The bitcoin craze has officially jumped to real estate.
Despite the risky, volatile nature of cryptocurrency, homes and property across the U.S., Australia, Canada, and beyond are for sale for the unpredictable coin. Even after one bitcoin dropped from $14,000 to $11,000 in value in a matter of days, homeowners are still putting up their homes for some of that flashy money.
It’s not just a few listings here and there. According to Bitcoin Real Estate, a site that has been tracking the business for several years, the trend is growing more and more and not slowing down.
At the end of 2017 a Miami condo reportedly sold for 17.7 bitcoin and actual cryptocurrency was exchanged between the buyer and seller. Not just bitcoin converted into cash, which is the more popular way to use the coin.
Trulia spokeswoman Andrea McDonald found 80 listings on the site that reference cryptocurrency in some way. Many just note “bitcoin accepted,” but others really get into it.
A property near Joshua Tree National Park in Southern California makes that case for paying with cryptocurrency, insisting that the property “can be a nice investment for future at a very reasonable $5,250 per acre for a total of $2.1 million or 124 bitcoins.”
Another home in West Palm Beach, Florida, is open to buyers with bitcoin and ethereum and litecoin, but with the caveat that cryptocurrencies are constantly changing. “Owner financing possible $149,900 USD, 13 bitcoin 375 ethereum, 950 litecoin (crypto price subject to change. Inquire crypto price at time of interest),” the listing says.
So far Trulia hasn’t officially seen a sale go down with the coin, McDonald said, but it’s probably just a matter of time.
SF real estate listings be like pic.twitter.com/yKPDmNc9uu
— Jill Carlson (@_jillruth) January 12, 2018