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Phillips has announced that bitcoin (BTC) and ether (ETH) will be part of the accepted payment options for art-lovers interested in participating in the upcoming auction of Banksy\u2019s \u201cLaugh Now Panel A\u201d artwork, which is worth between $2.8 million and $4.1 million, according to reports on June 7, 2021.<\/strong><\/p>\n Phillips, a leading auction house for arts, watches, jewelry, photographs, and more, has joined the growing list of highly reputed brands accepting cryptocurrencies as legitimate payment options for their products and services.<\/span><\/p>\n Per <\/span>sources<\/span> close to the matter,\u00a0 the British auction house, which was founded by Harry Phillips in Westminster in 1796, has made it clear that participants in the upcoming auction of Banksy\u2019s \u201cLaugh Now Panel A\u201d artwork, which is slated to take place on June 8, 2021, will be able to pay with bitcoin (BTC) and ether (ETH) during the event.<\/span><\/p>\n Estimated to be valued between $2.8 million and $4.1 million, the painting is one of Banksy\u2019s earliest and most internationally recognized works and it depicts a forlorn monkey wearing a sandwich board that says \u201cLaugh now, but one day we\u2019ll be in charge.\u201d\u00a0<\/span><\/p>\n With a presence in New York, Hong Kong, Geneva, and various jurisdictions across the world, Phillips, which claims to be the only auction house to have ever held a sale inside Buckingham Palace, says the integration of established cryptocurrencies like bitcoin and ether into its operations is in a bid to satisfy the yearning of its clients.<\/span><\/p>\n The team says bidding will be done in Hong Kong dollars, and the exchange rate of the supported digital currencies will be referenced from the Nasdaq-listed Coinbase crypto exchange on the event day.\u00a0<\/span><\/p>\n Despite the energy consumption narrative of bitcoin (BTC), the world\u2019s flagship cryptocurrency, as well as other blockchain-based digital currencies, have continued to see significant <\/span>adoption<\/span> globally, both as a borderless payment option and store of value.<\/span><\/p>\n<\/span>Phillips Adds Support for Crypto<\/strong><\/span><\/h2>\n
<\/span>Meeting Clients Demand<\/strong><\/span><\/h2>\n