Select Page

Want to Buy a Banksy With Bitcoin? Sotherby’s Says Yes

Want to Buy a Banksy With Bitcoin? Sotherby’s Says Yes
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Fine arts dealer Sotheby’s is now accepting Bitcoin and Ether as payment methods. The first offering to test the response is Banksy’s Love is in the Air, which depicts a masked man throwing flowers.

This is made possible by partnering with Coinbase, which has set up a bespoke solution to enable this. Stefan Pepe, Sotheby’s Chief Technology Officer, said, by doing this, the firm is enhancing the client experience and appealing to a whole new clientele as well. The move represents another step towards cryptocurrency going mainstream.

“Leveraging the trusted exchange Coinbase is a natural progression and is in line with our dedication to enhancing our client buying experience and developing new ways to expand our client base by meeting them where they are.”


Bitcoin as a Payment Method

Speaking to CNBC, CEO of Sotheby’s Charles Stewart said accepting cryptocurrencies is something the firm has been thinking about for a while now.

Stewart mentioned that the positive response to its recent Pak NFT auction, which netted a total of $16.8 million, gave the incentive to explore accepting cryptocurrency for physical art.

“This will be the first time cryptocurrency will be accepted as payment for physical artwork. We’re really excited to make this happen. It’s something we’ve been thinking about for quite some time. You may recall we had our first NFT sale a few weeks back. We had over 3,000 bidders and participants in that sales series.”

The first piece to test the waters will be Banksy’s Love is in the Air. Stewart said buyers can pay cash as well if they wish. He estimates the piece to net between $3-$5 million.

“Banksy has been, as you might be well aware, a very popular artist at auction. And there’s a lot of interest in his work, paying with physical money as well. But what better combination to introduce crypto than an iconic Banksy painting?”

Bitcoin-bull Anthony Pompliano chimed in by saying soon, every company will accept the currency of the future rather than cash.

Bitcoin daily chart

Source: BTCUSD on

Banksy’s Message

Banksy is a pseudonymous street artist whose real identity remains unconfirmed and the subject of much speculation.

He came to prominence during the 1990s and follows a subversive, satirical style that expresses anti-war and anti-authoritarian themes. His artworks are publically displayed, such as on walls or repurposed prop pieces. These are often resold, which involves the removal of walls in most cases.

The artist unofficially sells a limited run of pieces through an agency called Pest Control.


Source: NewsBTC


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader.

Download Now

Don't forget to share your review/suggestions for android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here