Seller seeks buyer with bitcoin for Victoria property

Seller seeks buyer with bitcoin for Victoria property
From CBC - January 12, 2018

A vacant lot in an upscaleVictoria neighbourhood is for sale for $2.5 million or the equivalent in bitcoin.

Hugo Donais's20,000 square-foot lot sits on Midland Roadin the Uplands subdivision. The listing describes the lotas the perfect spot to build a dream home on a country lane andwalking distance from the golf course and yacht club.

Donaissaidhe's not a gambler, but he told his real estate agent, Jason Binab,he was willing to speculate on the volatile cryptocurrency.

"It'sbeen on the market for about a month and I thought hey, this is not really a busy market right now, so why do not we just offer it to people to buy it for cryptocurrency? Jason said:'Are you joking?'And I said no, I am not."

The crypto-currency's trading valuehas been volatile. Early Thursdaymorning the asking price for the Uplands homeequalled about 145 bitcoin.

RealtorBinabsaid an offer might already be in the works for the property.

"Aclient that owns quite a lot of bitcoin was alerted to this property by his realtor who sawmy post on Facebookyesterday,and he suggested to him let's write an offer, divest yourself of some of your bitcoin and put it in real estate."

Ryan DeLuca, professional standards advisor for the Real Estate Council of British Columbia, said many brokerages wo not touch cryptocurrency transactions because of the risks.


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