A house that can ONLY be paid for in cryptocurrency? Yes, the five-bedroom house pictured below is for sale in cryptocurrency and only cryptocurrency.
The owners won’t even accept cash. Is the Greater New York area getting “crypto-crazy?” Well, maybe the real estate sector is…or, maybe it’s getting smart. Cryptocurrencies have had an incredible bull run last year and some top analysts are predicting a second bull run this year, specifically in the alt coin market (other lesser known, cheaper coins that have to potential to boom to very large prices). In fact, cryptocurrency exchanges like Kucoin.com have been growing considerably with new investors looking for the next big cryptocurrency.
As for the crypto-only home for sale, it is a newly constructed property that measures a roomy 4,800 square feet. The current cryptocurrencies that can be used to pay for it are bitcoin and Ethereum. The house at 5 Ridgewood Lane has an asking price of 250 bitcoin, or 3,030 Ethereum, which as of May 17 equates to about $2 million.
“One of our motivations is to show a gesture of support and commitment to the cryptocurrency community, I love the idea of reaching an audience that may otherwise be overlooked,” says homeowner Susan Vanech.
Furthermore, says Susan Vanech, cryptocurrency investors are “unconventional thinkers,” which she thought would be a match for this home, which she calls “unconventional in decor.”
It looks like exciting times are on the horizon when it comes to cryptocurrency and the real estate market in the greater new york area.