While governments around the world look with some doubt at Bitcoin's digital currency, that doesn't mean they don't want to make money out of its high value, which France is doing by auctioning the crypto currency for the first time.

As part of an investigation, more than 600 coins were seized that could bring in more than $30 million if tenders reached current market prices.

The online sale of the auction house "Kapandji Morhange" attracted more than 1,600 participants. The auctioneer Jeslyn Kabandji said, "We've had the best time" in preparing for the auction.

When preparations began in September, Bitcoin's price was around $100,000, far from the $60,000 it made last weekend, putting the sale of 611 units at a very different level in terms of return.

Although Bitcoin is often a speculative asset and a means for criminals to move and launder money, the value of the cryptocurrency has soared in recent months, with major companies like Tesla and BlackRock behind it.

It should be noted that no information has been disclosed on the origin of Bitcoin currency sold by France, since the legal process is still under way, and if the defendant wins, he will receive the money from the auction less commissions paid to the auction house, otherwise the State will deposit the money to victims or charities.

France is not the first country to sell cryptocurrencies, being preceded in 2014 by the United States, followed by Canada, Australia, Belgium and Britain, according to the auction house.

The President of the European Central Bank and former Director of the International Monetary Fund, Christine Lagarde, said that it was unlikely that central banks would keep bitcoin as a reserve currency, and that she did not view it as a real currency, noting the development of a digital euro, but said it would take a few years.

 

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