An £18 million ($24 million) mansion in the trendy Notting Hill district of London is going on sale this month and can only be purchased in Bitcoin (Bitcoin) Reuters reported.
At the current exchange rate the mansion’s price is equivalent to about 4,200 Bitcoins.
Wealth management firm London Wall, which bought the mansion for £9.5 million about three years ago, hopes to find a buyer for the six-storey building willing to pay in the biggest and best known cryptocurrency.
Ned El-Imad, a partner in the firm, said payment in physical currencies, such as pounds sterling, would be accepted but the firm hopes to conduct the transaction in Bitcoin to show investors that buying property with digital currencies is a “no-fuss” way to do business.
Meanwhile, the first ever single-family home sale in Texas involving Bitcoin was announced last month. The buyer, who works in the tech industry, purchased the newly built home in Austin using Bitcoin, but the seller, a custom homebuilder, wanted the currency converted to dollars during the transaction, CNBC reported.
"Austin is a really technologically advanced city, I'd say, so I was surprised we hadn't heard anybody wanting to do this before," said J Kuper at Sotheby's International Realty, which brokered the deal. "But, candidly, we didn't know how to do it. It was a quick challenge and scramble to figure out all the moving parts, but we were instantly excited about the opportunity to figure that out."
They used BitPay, a global Bitcoin payment service provider headquartered in Atlanta. It converted the Bitcoins into dollars for the buyer.