Domain Name Reportedly Acquired For $1.1 Million

An interesting report from news website reveals some interesting information with regard to a bitcoin-related domain sale.

Josh Garza of GAWMiners miners told the website that he managed to pick up the domain name for a whopping $1.1 million — a record sale in the bitcoin industry.

Other bitcoin-related domain names have previously gone up for sale, but none have been bought for quite as much as, which is the most commonly used symbol for bitcoin (and it’ll really stink for Garza if the community decides to formally adopt XBT as the symbol).

In February of this year, Niko Younts, an entrepreneur, managed to sell the domain name for a whopping $250,000 (a domain he picked up for $11,000), and said that a similar domain name,, was fetching a similar price.

Domain squatters have found the new and emerging bitcoin industry a gold mine for harvesting potentially valuable domain names, proving it could very well be a big business.

And speaking of domain names, former Mt. Gox CEO Mark Karpeles was planning to auction off a valuable domain name he holds, That is until a Seattle judge threw a monkey wrench into the works and blocked the auction due to a complaint from Coinlab, who is suing the company for breach of contract.

As for now, the domain simply displays a web page that says “Something amazing is coming soon.”

I can’t say what that is, because I simply don’t know, but it’ll get off to a very good start with a memorable domain name like

I’ve only got three more letters on the domain name. Where’s my big bucks?

Subscribe to our newsletter

With recent news that the highly-valuable domain name was going up for auction, many start-ups and entrepreneurs may have seen an acquisition as nothing short of beneficial.

We’re learning however, that a Judge’s ruling may derail the auction — which presently holds a reserve price of a whopping $750,000.

This particular case involves CoinLab, a former Mt. Gox partner, who last year sued the company for $75 million for breach of contract.On July 22nd, a U.S. District Court of Seattle Judge granted a temporary restraining order against Tibanne — Mt. Gox’s parent company, also led by Mt. Gox CEO Mark Karpeles.

This restraining order (according to a press announcement) calls for Tibanne to preserve all of its assets, of which includes a significant portfolio of intellectual property items.

“We are pleased that the court entered an order requiring Tibanne to preserve and account for all of its assets, including any ownership it might have in MtGox, domain names, or payments that it has received since the bankruptcy,” said Roger Townsend, CoinLab attorney.

“This [temporary restraining order] sends a strong message to Tibanne that they cannot dissipate assets without the court’s approval.”

NEWSBTC inquired about the currently-appointed trustee in Tokyo that’s handling Mt. Gox assets and whether or not that would conflict with this ruling.

“Mt. Gox is in bankruptcy. Tibanne is not[,] and Tibanne is the registered owner of,” Townsend told us in a brief statement.

Townsend expects the auction house — Heritage Auctions — to honor the judge’s order and formally decline to auction the valuable domain name on Thursday, when the auction is due to begin.

NEWSBTC did not receive a response from Heritage Auctions on the matter before time of publishing.

Update, 18:20: Heritage Auctions has withdrawn the auction for ‘’, according to a notice sent to prospective bidders, NEWSBTC is learning.

Greetings from Heritage Auctions.

A lot you have been tracking, lot # 49, lot description [description omitted for brevity] in the 2014 July 24 Domain Names Signature Auction – Dallas, #1120 has been withdrawn from the auction and is no longer available for tracking.

Thanks for your understanding.
If you have questions regarding this lot, please email [email protected]

Unfortunately, anyone looking to pick up the domain will no longer be able to for the time being.

We know that is involved in a five-year deal with, but what about the highly sought-after domain name?

There’s now a chance to pick up the domain, with news today that the domain will hit the auction block later this month as part of Heritage Auctions’ Domain Names & Intellectual Property Auction, which will see the sale of a slew high-value of web addresses.

The domain was owned by Mark Karpeles, CEO of the Mt. Gox bitcoin exchange, which took a devastating tumble into bankruptcy protection following the loss of investor monies earlier this year.

“We are hoping, with the sale of, to provide some relief to the people impacted by the Mt. Gox bankruptcy,” said Mr. Karpeles in a press statement, “and [we’ll] be putting at least half of the sale amount toward that purpose.”

The domain is expected to fetch a pretty penny (or should we say bitcoin?), given bitcoin’s explosive growth over the past eighteen months.

“ is absolutely the best remaining, and available name for this new market,” said Aron Meystedt, who serves as Founder and Director of the Domain Names & Intellectual Property category at Heritage Auctions. “, the singular version, is owned and used by, the world’s most popular bitcoin wallet, and itself is also already tied up. For the right investor this is a golden opportunity.” was one of the few valuable intellectual property items Karpeles and Mt. Gox held. Mt. Gox also held a trademark for ‘Bitcoin’ in both the European Union and Japan.

“The current market capitalization of all bitcoins in circulation is between $7 billion and $8 billion,” continued Meystedt. “Daily, there are millions of dollars in transactions in Bitcoins. This auction offers the opportunity to capitalize on one of the most significant developments since the inception of the Internet.”

The auction is slated to begin on the 24th of July and could fetch over $750,000, according to estimates. The opening bid will start at $185,000.

April’s news that would be managing the ‘‘ domain name for a period of five years made a splash in the community. It’s prime internet real estate, not to mention easy to remember.

A premium domain broker is now attempting to sell the revered domain name. If the fact that a three-letter domain name wasn’t enough, it also represents the most common abbreviation of bitcoin.

So if you’re not getting the point here, it’s a rare domain, and it’s likely anything but cheap.

“Whether you’re a Bitcoin startup or existing company wishing to solidify your authority and optimize your marketing, there is no better opportunity than acquiring,” said Jen Sale, co-founder of Domain Guardians, the company exclusively brokering the domain name. “In the right hands, this domain has the power to change the Bitcoin landscape and establish a market leader.”

Interestingly enough, domains related to bitcoin are becoming a big business in themselves. Take, for example, the recent sales of, which is estimated to have sold for $250,000. Another noteworthy domain sale included, acquired by Bitcoin Shop, Inc. for an undisclosed sum.

“For Bitcoin related companies, is the best domain name currently available for sale that I am aware of,” says Roger Ver, a bitcoin evangelist who’s better known as “Bitcoin Jesus” in the community. “Any business using would almost certainly catch a lot of extra attention because of this premier domain name.”

“In our fast-paced mobile world, a shorter name is always best,” said Mike Robertson, co-founder at Domain Guardians. “There’s a reason companies are buying and using 2-3 letter domain names – they are quick to type and easy to remember. ticks all of the right boxes!”

No word as to whether or not the broker will be accepting bitcoin for the acquisition, but you can probably bet it’s going to be a pricey one!

Domain names can be prime property if they meet certain criteria. They can sell for millions of dollars if they’re just right. And since bitcoin has become an international phenomenon, you can bet that “” would be in high demand.

Indeed it was, and on Thursday, announced they’ve struck a five-year deal to exclusively manage the domain name. is positioning itself to maintain and build its preeminence in the Bitcoin community by building strategic relationships that promote the understanding and usage of cryptocurrency. The domain name is the latest addition to a growing stable of products from

Already, the page features a link to the wallet, the company’s block chain explorer, and to Zeroblock, a subsidiary that aggregates news and presents chart data, in addition to a new trading service.

Our mission is to provide the tools and services that build on Bitcoin’s core strengths. We’re excited to create new learning experiences and introduce millions of users to Bitcoin as a result of this exclusive deal. Finally, understands that it’s important to drive this education today so that tomorrow the whole community can benefit from the next generation of world class Bitcoin infrastructure and applications.

The company did not provide any information as to how much the deal went for, but with a domain name like that, you can probably bet it wasn’t cheap.

This week, CEO Nic Cary took to Twitter to somewhat ambiguously express his excitement.

“I am so excited I can’t contain myself,” he wrote, possibly referring to this deal. continues to grow at an incredibly rapid pace. Not terribly long ago, the company announced the creation of their 1.5 millionth bitcoin web wallet.

[textmarker color=”C24000″]Image[/textmarker] Wikimedia/Rock1997

Niko Younts BitcoinWallet

Bitcoin has become big business, if you weren’t already aware. So it should be no surprise that bitcoin-related domain names are going for a pretty penny while on the market.

Such is the case with — a domain name owned by entrepreneur Niko Younts. Younts tweeted that the domain fetched a whopping $250,000. But it doesn’t end there. Younts has a similar domain, (plural) that is expected to bring in $200,000. That’s nearly a half-million for two domain names. The domains were registered in 2010 and 2011, respectively.

A quick Whois of the domain shows it’s in the possession of Alex Charfen — a self-described entrepreneur, teacher, author and speaker. It’s unclear what Charfen plans to do with the domain, but with a six-digit price tag, you can bet it’ll be serious business. (via CoinDesk)

What do you think? Vastly overpriced or worth every cent?