Bitcoin

Multi-Million Dollar Properties Are Selling for Bitcoin in San Diego

Adam James · @Shasdam | Feb 16, 2018 | 16:00

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Since getting crypto rich has become a bit of a thing in recent times, some select properties have gone up for sale while accepting Bitcoin — the dominant cryptocurrency — as a form of payment. Now, two properties have hit the market in San Diego, with price tags that redefine what it means to be ballin’ on Bitcoin.

Bitcoin mansions in San Diego, USA

Canter Companies, San Diego’s leading financial and advisory investment firm, has just announced two multi-million-dollar properties up for sale — assuming you’ve got the Bitcoin to buy them. (You probably don’t.)

As reported by The Daily Telescope, the first property is located at 6653 Neptune place, and currently carries a price tag of $11,800,000 — or roughly 1202.42 Bitcoin at the time of this writing. The second property can be found at 1257 Silverado in La Jolla and will run you $7,995,000 — or approximately 814.69 Bitcoin.

Alan Ezier, one of the sellers, sees blockchain technology as a pillar of the future, and Bitcoin as a legitimate cryptocurrency creating an entirely new financial system. As he explained to The Daily Telescope:

I think blockchain technology is here to stay, and Bitcoin as a currency creates a new self-sustaining independent financial system. The reach of cryptocurrency on a worldwide basis has given people more confidence in the currency. With its increase in popularity, it now reaches an audience that maybe wouldn’t have been interested a year ago.

Canter Companies would seem to agree, as they have plans to offer even more properties to crypto-rich buyers in the future. Explained CEO and founder Andrew Canter:

Our job is to make sure our clients are aware of emerging technologies and trends. After carefully studying this industry, it’s clear there is an entire new class of wealthy individuals which are underserved and our mission will be to help bridge that gap between them and our real estate clients. This won’t be a one-time campaign. We’ll continue to research and implement different strategies to gain access.

An Emerging Trend

Canter Companies isn’t the first real-estate seller to accept Bitcoin payments for prime property.

Lingerie tycoon Michelle Mone and her billionaire boyfriend, Doug Barrowman, initially put 50 of their 1,300 developments, located in Dubai’s Science Park, up for sale with Bitcoin — all of which sold out extremely quickly.

Coloma River Capital and the Alex Venditti Group of Coldwell Banker Residential Brokerage are also accepting the dominant cryptocurrency for down, partial, or full payment at four prime spots in St. James Place Condos, located in Washington, DC.

Are you planning on buying a home with Bitcoin in the future? Do you think property sellers will be more open to accepting Bitcoin and other cryptocurrencies as payment in the future? Let us know in the comments below!

Images courtesy of Bitcoinist archives.