The domain is put for sale at an initial price of 200 bitcoins, which at the current exchange rate is about $2.8 million.

The seller is a private company XBT Holding, which is registered in Luxembourg and is engaged in hosting and data storage. The US media mentioned this company as an organization suspected of spreading viruses, hacking servers and stealing data from the Democratic Party during the last presidential campaign. According to a publication in BuzzFeed in early 2017, the key role in all these activities was played by the head of XBT Alexey Gubarev, who allegedly could have been recruited by the Russian spy agency the FSB. XBT dismissed all allegations and filed a suit against Buzzfeed.

The reason why this domain could be bought for 200 BTC, is that these letters are often used as an abbreviation of the word "bitcoin" instead of the more widely known BTC. Gubarev's company has owned this domain since 2010 when bitcoin was practically worthless.

“This domain has way more value in the hands of someone in the cryptocurrency business,” Gubarev said in emailed remarks provided by his lawyer, Val Gurvits. “Also, the brand name of XBT has severely suffered due to the false allegations in the dossier, and we are considering re-branding as the result of the reputational damage.”

The domain was put for sale on 5 January. Requests for purchase are accepted after making a deposit of $10,000 or 0.5 bitcoins, but so far no requests have been received. After selling this domain, XBT Holding intends to use the domain name