One of the most extraordinary, rare and intriguing domains, XBT.com, will be auctioned by XBT Holding SA. Bidding starts at 200 BTC, which is approximately $2.76 million
Some institutional trading platforms use the abbreviation XBT instead of BTC to refer to the bitcoin cryptocurrency. The fact is that the abbreviation bitcoin as BTC does not fit into the ISO 4217 standards. The International Organization for Standardization (ISO) establishes three-letter and three-digit numeric currency codes. The first two letters out of three indicate that the currency belongs to the issuing country and the last letter of the code corresponds to the first letter in the name of the currency.
If we consider the abbreviation BTC from the point of view of ISO 4217, then the first two letters BT correspond to the country Bhutan. At the same time, Bitcoin itself in no way concerns this state. And the use of the abbreviation XBT resolves legal inconsistencies in the name of the digital currency.
The XBT Holding SA company, which stores and hosts data, is the owner of the XBT.com domain. But, due to the loss of reputation associated with the actions of the Webzilla subsidiary, management decided to rebrand the holding. (Webzilla is suspected of cyberattacks on the US Democratic Party and data theft.) These changes led to the decision to sell the domain.
Company representatives believe that the XBT.com domain is valuable for the crypto business and the starting price of 200 BTC is quite fair. Considering that free three-letter domains themselves are rare and do not go on sale often, XBT Holding SA has every reason to declare such a starting price.
The registration cost in the auction is 0.5 BTC, which is approximately $10,000.
According to cryptocurrency.tech
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