Man in Australia Selling His House for Over 70 Bitcoins – Here’s the Story

Australian Betting for Bitcoin to Sell His House – Better Than Cash

The property owner, named Jim in Reservoir, Melbourne, Australia considers cryptocurrency ‘better than cash’ to sell his property. He has quoted 67-73 Bitcoins which is approximate $880K to $950K. 

This sounds a different story to what T. Harv Eker, an author and businessman, says about Real Estate. As Mr.Eker said ‘don’t wait to buy real estate, buy real estate and wait; this Australian seems to buy Bitcoin and wait. 

Jim said that selling the property to the bitcoin owner would be not as straightforward as selling it for cash. As the country’s authorities and the exchanges come into the picture, it would be a little difficult but possible.

The property deals using Bitcoin are booming lately as bitcoin has outperformed other asset classes in just a decade. However, Jim interestingly predicts that; 

“ Bitcoin, tomorrow, could jump to $20,000.” “There is no other better asset class that has outperformed Bitcoin in the last 10 years”. 

Bitcoin for Property Was on Hype Ahead of 2017 Bull Run

Australia is well known for its friendly crypto regulatory ecosystem. It has laws and taxes on cryptos set aside which has enhanced the adoption of the crypto payments in Country. The property deals have happened way back in 2017 before the bitcoin bubble.

Not only in Australia but property owners in Dubai, Rio De Janerio, USA, Brazil, etc have also sold their properties for Bitcoins. The increased adoption of the digital asset around the world might indicate a new revolution in the payment ecosystem.

More Offers Pour In

As the offer was put out on social media, many more people expressed their willingness to deal with Bitcoins for their properties. However, some people also felt that it might be a marketing strategy as the owner could buy Bitcoin with the money he receives from the deal.

Also Read: Real Bitcoin Dominance is Nearly 80 percent, New Tool Slaps CMC’s BTC Dominance Calculation

However, Bitcoin has witnessed a bull run in the last week with price touching almost $12000 but unfortunately dipped down below $11500 at the time of reporting. However, many analysts feel that this dump might be outperformed by a major outbreak in the Bitcoin price.

As Coinpedia reported earlier the Bitcoin’s latest trend mirrors the 2017 bull rally, the property deals to resemble the phase before the bitcoin bubble. In 2017, before the Bitcoin hit, it’s an all-time high, the property dealings using Bitcoin also rose. Currently, we’re likely in the same phase.

So readers, do you think that it’s the indication for the Bitcoin whale which would take over the whole market as it did in 2017? Let’s discuss on Twitter – Tag us @CoinpediaNews