Are you hunting for a new apartment in the Miami area? Do you have an aversion to traditional currency? Then you’re in luck.
As pointed out by Business Insider, a "spectacular" Miami penthouse has recently been listed for 33 bitcoins, which, as of Wednesday night, is the equivalent to $549,000. It’s also important to note that the seller will not accept any other form of payment.
So what will 33 bitcoins get you in real estate? Well, this property is a one-bedroom, 1.5 bathroom "boutique style condo" complete with high ceilings, wood floors, and an unobstructed view of the Biscayne Bay. The owner will also have access to the complex’s fitness center, spa, pool, and party room.
"You're taking money out of an asset class that is highly regulated and putting it into something whose value is based on no regulations," said Nela Richardson, the chief economist at real estate company Redfin. "We think this home for sale is more of a rare event than the start of a larger trend."
According to Business Insider, the value of bitcoin has increased more than 1,500 percent year-to-date. Though there is a lot of speculation surrounding cryptocurrency, as it’s a largely unregulated market, more and more real estate investors are warming up to it. Just look at other listings on Redfin.
There’s a five-bedroom, 4.5 bathroom San Francisco house on the market for $5.1 million, with the seller accepting payment in bitcoin. There’s also this $2.5 million home and $339,000 townhouse listed in Miami, both of which can be bought with the cryptocurrency.
So, yes, this sales pitch is “rare,” but it seems to be catching on.