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Bitcoin

There’s a one-bedroom condo for sale in Miami — and the seller will only accept bitcoin

Condo is for sale on Redfin for 33 bitcoin, which translates to about US$544,038 at current bitcoin prices

PUBLISHED : Thursday, 14 December, 2017, 12:51pm
UPDATED : Thursday, 14 December, 2017, 12:50pm

A penthouse condo in Miami is for sale and the seller will only accept bitcoin.

It’s the first property that’s listed for sale where the seller only wants cryptocurrency, according to online real-estate broker Redfin, which spotted the listing on its site.

“It’s the only one we could find where the seller was only accepting bitcoin, but when we searched our database of listings across the country we found about 75 properties in the listing remarks where the seller said they would accept bitcoin as payment,” a Redfin spokesperson told CNBC, adding that those sellers would also accept other payment methods.

“This is interesting because it looks like it’s US$33 but it’s 33 bitcoin. We noticed a lot are in south Florida and in California, where they mention bitcoin, though they’re all around the country. We’re going to be polling agents to see if buyers who came into bitcoin are going to be buying.”

Bitcoin has already been used to acquire real estate in the United States . A home was sold in Texas earlier this year, though the buyer converted bitcoin to dollars before making the final purchase. That means it wasn’t a pure bitcoin-for-home transaction.

Bitcoin is currently trading around US$16,500, which means the condo is priced at roughly US$544,500. The seller, perhaps encouraged by the stratospheric rise of bitcoin, likely believes the trend will continue, suggesting that they’ll continue to make money well after the sale of the condo.

After all, if bitcoin doubles after the sale, the seller walks away with more than US$1 million.

Read the original article at CNBC

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