The official ISO code domain name for Bitcoin, "xbt.com", starts bidding at nearly 2.8 million US dollars at Lloyd's auction house

Lloyds Auctions has announced the auction of the "XBT.com" domain name, which is closely related to Bitcoin's historical status in traditional finance. The starting bid is $2,798,917 and the auction will end on March 28th. Lee Hames, Chief Operating Officer of Lloyds Auctions speculated that Musk, Bezos or even Trump might participate in bidding. "XBT" is Bitcoin's ISO 4217 currency code launched around 2013 similar to gold (XAU) and silver (XAG). Exchanges like Kraken and BitMEX still use XBT for some URLs and API endpoints but switched to BTC during Bitcoin's last halving cycle.