Gold Castings of Nelson Mandela’s Hands at Ten Million Dollars’ Worth of Bitcoins

The Gold castings were produced by Harmony Gold Mining Co. in 2002 and are one of the pieces that came up under Mandela name after anti-apartheid. The company has paid a deposit of $50,000 and will pay the rest in installments.

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An Ontario-based cryptocurrency company Arbitrade bought the gold castings of Nelson Mandela hands at ten million dollars’ worth of Bitcoins. The company, which is planning an ICO in a few coming weeks and is building a crypto mining facility in Waterloo, says its virtual are backed by gold and other physical metals.

Therefore, the purchase is that strategic although Chairman Len Schutzman. The company said will target gold bars or coins rather than art.

Duncan received a $50,000 deposit worth of Bitcoins and the rest he will receive in quarterly investments of at least $2 million per extremity, starting April 30.

He said,

“They take possession when I have the dollar amount in the bank. At two-and-a-quarter million at a time, they take one hand at a time.”

The golden hand of Nelson Mandela artwork weighs only 20 pounds but its real value is in the publicity. Mandela is a great patriot and internationalist and already passed on. However, the hand would definitely act as one educating millennials about him and his heroic acts.

The company even plans to make a global tour of “Golden Hands of Nelson Mandela.”      

The developments on artwork under Mandela’s name

It is not the only artwork under Nelson Mandela’s name: thousands of pieces of art under his name flooded the market after releasing from prison after anti-apartheid.

In addition to the various scandals involving the artworks, Mandela ordered the destruction of many artworks. And Duncan attempted to sell the hands in 2017 but was not successful. Therefore, due to a controversy over provenance and a possible missing charitable donation.

The casting was made by Harmony Gold Mining Co. in 2002 and paid double the price (double the 1.8 million-rand) with an understanding that the company would give half to Mandela’s charities. It is not clear whether the amount was donated. However, the company supplied Duncan with paperwork verifying the provenance.

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Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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