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Bitcoin for Real Estate, Anyone? Sellers Accepting Bitcoin Payments against Properties

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The Bitcoin craze is not going anywhere, or at least that is what some developments point out.

It was recently reported by the Los Angeles Times that two properties on the San Diego market are up for sale against Bitcoin.

If this sounds oddly familiar to you, then you might be thinking about any of the multiple properties that were sold last year in exchange for Bitcoin; the latest, most notable of which were two expensive homes in the U.K., which were valued at £350,000 and £595,000.

Still accepting bitcoin for real estate

Despite the recent issues and the drop and fluctuation in value that Bitcoin has faced in the past two months, people still seem to believe in what is considered the world’s prime cryptocurrency.

The two extravagant homes in San Diego are worth around $19.8 million – a value that could be a big gamble for the seller if Bitcoin’s price goes up or down in the next few weeks.

However, that is not stopping the seller or his friend, the former of whom is actually the CEO of a real estate company himself, called Canter Cos.

Speaking to the L.A. Times, Andrew Canter, Canter Cos chief, stated that he and his friend are willing to take the risk when it comes to the value of Bitcoin and where it will go.

“I don’t think we can speak to a financial benefit here or there. Obviously, the chance [that bitcoin’s value] goes up is just as much as it goes down right now.” Canter stated.

It really does seem like a personal preference, since there does not seem to be any tax gain on selling the properties in Bitcoin – as capital gains taxes would still be levied upon the buyer when they hold the Bitcoin.

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