According to Bloomberg, the president of the New York hedge fund R.G. Niederhoffer Capital Management Roy Niederhoffer sells his nearly 1000 square-meter six-story mansion located on Riverside Drive, 40 in Manhattan, for bitcoins. At present, this building is estimated at about $15.9 million, which is about 2500 bitcoins at the current rate.
You can pay for the purchase with fiat money, but Niederhoffer, who calls himself “an ardent supporter of Bitcoin,” said he would leave the flagship cryptocurrency if the buyer still decides to pay at BTC.
“Whatever the conditions of the contract and the broker’s commission, I will pay with traditional money and in the future, I will keep these bitcoins,” he said. The mansion, which is currently owned by Niederhoffer, was built in the 19th century. It overlooks the Hudson River and the nearby park.
The practice of buying real estate for bitcoins and other digital currencies has recently become more common. According to the star of the reality show Shark Tank Barbara Korkonan, who earned her multimillion-dollar fortune mainly in the real estate sector, cryptocurrency is ideal for buying real estate, because it eliminates intermediaries and reduces costs.
“I look at the situation very optimistically, because, in the long run, they are perfect for transactions involving the purchase of real estate,” Korkonan said in an interview three months ago.
Niederhoffer is not the only resident of Manhattan related to hedge funds and who decided to sell real estate for Bitcoins. Six months ago, the townhouse of hedge fund manager Claudio Guazzon de Zanette was put up for sale with a price tag of $30 million (or $45 million if the buyer decides to pay in cryptocurrency) was announced.
Such a big difference, according to Zanette, will allow him to avoid the risk of volatility in the crypto market. Zanette accepts Bitcoins, Ethereum and XRP as payment.
In September, a palace was put up for sale in Malta, which the seller estimated at $3 million, but demanded payment in bitcoins. The building, which is more than 4 centuries old, was decided to be sold with the help of the company CryptoHomes.io. This company is just engaged in selling real estate for the cryptocurrency.
According to Dennis Avorin, one of the founders of CryptoHomes, the goal of his startup is to prove that cryptocurrencies are used not only for speculative purposes and that they can also be used to buy real assets.
“We just want to popularize the use of cryptocurrency as a tool for real investment, and Malta is a great starting point with one of the strongest real estate markets that we have seen in the past few years,” he said.