ArteQuesta, a fine art investment company, is to accept Bitcoins as a method of payment for the purchase of artworks.
Bitcoin is a popular peer-to-peer online payment that enables users to transact directly without the reliance on banks, and has become the first decentralized digital currency. Bitcoin hosts every transaction, tracking the provenance and the ‘true’ market value of artwork from buyer to buyer, based on actual numbers and not based on appraised values.
Rayah Levy, art market expert at ArteQuesta, commented: “We are excited to offer this new form of payment, reassuring our clients that they have the opportunity to invest in art, not in a controlled and manipulated fashion, but in a clear, traceable way via the blockchain Bitcoin presents.”
Levy added that this payment option gives millions of people access to easily invest in art, at any level, without any political and social implications or unnecessary fees.