Bitcoin Domain-Name Prices Defy Drop in Virtual Currency’s Value

Prices for addresses referencing digital currencies such as bitcoin have tripled since last year, Rob Lagsam, sales director at domain-name seller BinaryCoin.com, said in an e-mail. While some sold for $5 a few years ago, brokerage Domain Guardians Pty Ltd. is now trying to sell BTC.com, based on an abbreviation for bitcoin, for more than $1 million.

Should Domain Guardians get its price of more than $1 million, that still would be far short of the record for a domain name. The highest price paid was $13 million for Sex.com in 2010, according to DNJournal.com, which tracks the industry.