Ever wanted to buy oceanfront real estate in British Columbia? It will currently cost you around 200 bitcoin today but tomorrow, it might cost you 250.
Camilla Stephan-Heck and her husband have decided to accept the highly volatile cryptocurrency in exchange for their beautiful Vancouver Island home. Calculated in dollars, the couple is seeking $2.7 million CAD for their 5 bedroom oceanfront mansion. The dentist and lawyer bought their dream property back in 2001. They listed the home back in November but hadn’t started advertising on cryptocurrency websites until this month.
Mrs. Stephan-Heck said:
“We dabble in cryptocurrency ourselves, we’re fairly diversified in our investments, bitcoin was gaining notoriety and we started doing some research. We’ve done reasonably well on it. It’s enough to have fun with.”
The couple would accept either a full or partial Bitcoin payment but the real estate agent they’ve decided to use, expects the couple to be paid in CAD. The property is paid in full and the couple are currently waiting for the right offer.
There are a dozen other Canadian homes listed for sale on the Bitcoin Real Estate website, including a farm and luxury condos. There is one buyer on the site that is looking for a home in Calgary and is willing to spend $450,000.
However, this isn’t new in the United States as many homes have already been sold in exchange for Bitcoin from Florida to Washington State. Many car dealerships have even begun accepting Bitcoin for luxury vehicles. Newport Beach California’s Lamborghini dealership has accepted payments in Bitcoin since late August of 2017.
It was inevitable that cryptocurrency would be adopted into goods, as many investors found it to be the most frustrating aspect of the digital currency. As returns continued to grow as the cryptocurrency market skyrockets at the last half of 2017, individuals grew frustrated that they were unable to spend their wealth on goods.. VISA and Mastercard have teamed up with projects and there are now cryptocurrency debit cards, that are accepted wherever these major card companies are accepted. The company does the conversion of the transaction and it is no hassle to the retailer. As cryptocurrency continues to grow, we could see more and more goods being bought in digital currency.
Featured Image: bitcoin-realestate.com