An “Abstract” payment for Abstract art

Since Bitcoin and various other cryptocurrencies started gaining popularity, they were viewed as fads by people around the world. Even economists and finance investors disregarded them. Originally seen as a black market investment, Bitcoin has gone a long way to show that it has value. In fact, current markets are selling luxury items for bitcoins, which is only one of many steps investors are taking to prove its worth.

 

The Art of Bitcoin

After a prestigious year for all of cryptocurrency, bitcoin is the front runner. But bitcoin was not always this successful, six years ago the currency was only worth one US dollar. Yet somehow, six years later, bitcoin is now being used to purchase artworks. In London; Eleesa Dadiana owns and operates an art gallery that accepts art-for-bitcoin transactions. The Dadiana Gallery works primarily with older artists that have established themselves. Dadiana does not only accept bitcoin for her artist’s pieces; Etherium, Etherium Classic, and Ripple are approved as well.

As a business venture Dadiana views the cryptocurrency transactions as a brave way to be front runner for the future. She does however admit that until more business owners accept non-fiat currencies, progress will be slower. One of the pieces selling is a sculpture made from Formula-one engine parts by artist; Mike O’Connor. No other gallery owners accept crypto-transactions that the London Owner knows of, but what better than an abstract payment method for an artist?

 

Other Luxury Forms

Artwork is not the only thing with a luxury tax applied to it that can be bought with Bitcoin. Bitpremier.com sold a painting of Notorious BIg for 2.9 Bitcoins; about $10,000. Other sites also have boats and planes for sale. A generous buyer could even be the proud owner of a condo in the United States President’s “Trump Hotel”. Hopefully more practical items come for sale with Bitcoins soon, ones that do not require you to be a modern day crypto-millionaire.