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Australian auction house begins accepting crypto for all items

Auction house Lloyds Auctions Australia has begun accepting cryptocurrency for all purchases on its marketplace. The transition proved to be an early success, with a caravan selling for AU$100,000 (US$76,000) worth of Bitcoin within hours of the launch of the new payment method.

Australian auction house begins accepting crypto for all items

Fast facts:

Brett Mudie, Lloyds Auctions head of marketing told Forkast: “Cryptocurrency and blockchain technology undoubtedly is something that’s going to be playing a large role in the future, and we see there’s increased demand for cryptocurrency … it seems like there are just a lot more mums and dads and regular people who have cryptocurrency available to be buying things with.”


Lloyds has seen increased interest since making the change for its auction items, which range from classic cars to earthmoving machinery.


International art and jewelry auction house Sotheby’s also made news in the crypto world recently by announcing it would be accepting Bitcoin and Ether as payment for a 101.38-carat diamond. The pear-shaped stone, with flawless clarity, is expected to fetch as much as US$15 million at auction on July 9.

 

Source:forkast.news