How many bitcoins is that? - Crypto, latest art currency

The House of Fine Art (HOFA) gallery has made its entire £115 million art portfolio available to purchase with digital currencies like bitcoin.

AMSTERDAM (REUTERS) - A collection that includes artists like Zhuang Hong Yi, Emmanuelle Rybojad and Maxim Wakultschik will be available to purchase in cryptocurrencies via the cloud-based digital money platform 'Upheld'.

On Tuesday (Oct 2), Amsterdam based HOFA artist Joseph Klibansky said he made a 1.2 million euro (S$1.92 million) sale (in cryptocurrency) two days before the latest exhibition even opened in London.

In the past web-based "cryptocurrencies", like bitcoin, have been overlooked by traditional financial players who viewed it as too volatile, complicated and risky.

Bitcoin climbed 125 per cent in 2016, outperforming every other currency, as it did every year since 2010 bar 2014.

A recent report by the Anti-Phishing Working Group said criminals have stolen about $1.2 billion (S$1.65 billion) in cryptocurrencies since the beginning of 2017.

Artist Bran Symondson is presenting his works including For Everything To Change We Need Everybody, made from a decommissioned AK-47 gun with origami dollar.

The exhibition runs from Oct 3 - Nov 1 in London and Oct 25 - Nov 24 at the Los Angeles House of Fine Art gallery.