Two bidders pushed the final bid up by $15,000.
An expired domain auction for bitcoin.xyz ended at $42,501 on Namecheap today.
Bidding was at $15,001 with less than a minute left on the original auction, but like most hot auctions, late bids continually extended the bidding. Only two remaining bidders duked it out when the auction hit $27,000.
This domain is a registry premium domain, meaning the winning bidder also has to pay a premium to renew it each year. They’ll have to pay $3,250 to Namecheap on top of the winning bid. If you consider the renewal fees in perpetuity and use a 10% discount rate, they’re paying an additional $32,500 to acquire this domain. If you use current interest rates of around 5%, they’re paying an additional $65,000.
.Xyz has become popular for web3 businesses, and bitcoin is one of the most popular terms in the space. Web3 purchases of .xyz domains seem to have slowed over the past month as the crypto market imploded, though. I think this domain would have sold for more two months ago.