If you were a real early hoarder of Bitcoin who resisted the temptation to sell your stash during the cryptocurrency’s unprecedented rise, you just might be in the market for a swanky new property. Wouldn’t it be great if you could avoid the hassle (and not to mention scrutiny) that dumping $8 million on the market would surely entail?
Fortunately, the real estate firm Kalinka Group is offering a dream home in the Moscow suburbs, and they’re willing to take full payment in Bitcoin. The property is located in the village of Nikolino, where some of Russia’s most wealthy homeowners have converged. Ekaterina Rumyantseva, the chairman of the board of the Kalinka Group, had the following to say about their decision to offer the property for cryptocurrency:
For the first time we were faced with the client’s desire to sell a house for cryptocurrency. Such transactions are still a novelty, even for world real estate markets. The sale of the house in Nikolino will probably become a precedent in the legal practice and real estate market.
The current owner of the multi-million dollar pad wishes to remain anonymous but is reported as being a “well-known Russian man”. The property he is offering to exchange for Bitcoin is spread over a 930-meter area in a beautifully landscaped, green enclave with its own system of man-made waterways. It also comes complete with Turkish baths, an open-air Jacuzzi, and its own snow room and cryosauna. The real-estate group is also an exclusive partner with interior design studio YOO, so you know it will be furnished lavishly too. It seems $8 million, or close to 2,000BTC (at the time of writing) goes a long way in Russia.
The surrounding area is also ideal for the well-to-do with many restaurants, beauty salons, leisure complexes, and health facilities in the property’s vicinity. This prime Moscow real-estate joins a growing list of properties whose owners will accept various cryptocurrencies as payment. These include places in Dubai, Texas, Glasgow, and Florida.
Selling real estate for cryptocurrency is a progressive move, which could serve as a case study as Russia decides upon assigning a legal status to Bitcoin. The country’s government has a history of flip-flops when it comes to cryptocurrency regulations in the past. The Finance Ministry once drafted a law that could have turned possession and use of Bitcoin a serious offense that could result in jail time and hefty fines.