NEW YORK - American artist Mark Flood's painting was the first art piece to be purchased with Bitcoin in the US. When it sold last week in New York for 12.3 BTC (equivalent to $100,000). The White Company, a purveyor of fine art and luxury goods which specializes in working with clients in the cryptocurrency space sold the piece. "Select a Victim", the 2013 painting by Mr. Flood was offered privately to a Canadian citizen who wishes to remain anonymous.
Bitcoin, a cryptocurrency, rose significantly in 2017, to over $10,000 per BTC this year.
Elizabeth White, CEO of The White Company said, "We have tremendous demand for art and luxury goods from buyers who have recently come into significant cryptocurrency wealth. They want to purchase tangible items with their newfound wealth and are finding it troublesome."
While there is an increase in merchants accepting payments in cryptocurrency, the adoption in the luxury goods world is virtually non-existent. The White Company is the first and only US fine art and luxury goods dealer that accepts payment by cryptocurrency.
"One of the main advantages of Bitcoin is anonymity," continued White, "and we highly respect the privacy of our clients, even communicating with them through secure methods such as Signal and Telegram if they wish. We work with anyone in the world, and are able to offer same day delivery of any confirmed purchase in New York City or their choice of shipping worldwide. Our buyers enjoy the comfort of full anonymity throughout the purchase process, that our combination of cryptocurrency payments and private communication channels provide."
Bitcoin gained popularity due to its ability to send payments without revealing the identity of the sender or receiver. Unfortunately, when trying to convert BTC into USD, holders of Bitcoin must reveal their identities to the exchange. However, by being able to pay directly for things in Cryptocurrency privacy is fully reassured.
The White Company is currently offering other art pieces by Mark Flood, Peter Beard, Michael Dweck as well as other luxury items, watches and even high end automobiles.
White says "If there is anything a client wants to purchase with Bitcoin, we will be able to get it for them. Just yesterday we had a client wanting a suite at the Super Bowl and we made that happen for them."
About: The White Company was started for clients who hold wealth in cryptocurrencies to purchase luxury goods without giving up their desire for anonymity. With experience, knowledge, and connections, the team at The White Company brings together the world of fine art, watches, luxury automobiles and more to their client's fingertips.
Source; The White Company