Auction house Sotheby’s is now accepting Bitcoin and Ethereum

During the Tuesday broadcast of CNBC’s “Squawk Box”, Sotheby’s CEO Charles F. Stewart announced that his top auction company would begin accepting payments in Bitcoin and Ethereum.

Auction firm Sotheby’s currently accepts payments in two of the largest cryptocurrencies: Bitcoin and Ethereum

He said:

“We are really excited to make this happen. It’s something we have been thinking about for quite some time.”

Art lovers will be able to auction “Love Is in the Air”, the most famous painting by British street artist under the pseudonym Banksy, in cryptocurrency next week.

Sotheby’s is a New York-based auction company that has signed a partnership with Coinbase Commerce, the merchant arm of America’s largest crypto exchange, to process cryptocurrency payments.

When asked whether the company will keep the cryptocurrency or convert it to dollars, Stewart said the artists will decide for themselves:

“That will ultimately be up to them.”

In mid-April, Sotheby’s auctioned its first NFT tokens after the $ 69.3 million sales of Beeple NFT – Christie’s historic record. This news caused a stir in the media in March 2021.

You can see the BTC price here.

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