Man Buys California Home with Bitcoin, Makes $1 Million Profit
A buyer who purchased a house using bitcoin got a 25% windfall, thanks to this month’s jump in the bitcoin price between when the contract was signed and when the transaction took place. Sonny Singh, chief commercial officer at BitPay, shared the story in a recent Bloomberg Markets interview (MP3) with hosts Cory Johnson and Carol Massar. He said a real estate developer approached BitPay because a home buyer wanted to buy a house with bitcoin. The real estate developer wanted help in facilitating the transaction. “We’ve actually helped facilitate several bitcoin transactions for persons....
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A tech entrepreneur, John Sweeney, who made his fortune during the dot-com boom is putting his waterfront property in Tiburon, California on the market for a cool $3.6 million - payable in bitcoin. "I believe Bitcoin is going to change the world, and I'm ready to demonstrate my confidence by accepting the digital currency as payment for my one-of-a-kind home," said Sweeney, who has since relocated to his own private island in the Sacramento Delta. Marianne Bordogna with Keller Williams Realty in Danville, California sprinkles in all of the details: "John's home commands sweeping and....
A real estate buyer in California profited nearly $1.3 mln after purchasing $4 mln worth of Bitcoin with an intent to purchase a house in California. Earlier this month, BitPay chief commercial officer (CCO) Sonny Singh was approached by a real estate buyer based in California who wished to purchase a $4 mln house solely using Bitcoin. Singh and the BitPay team, which provides a wide range of Bitcoin services assisted the buyer and the real estate developer in coming to terms with the final settlement. At last, a $4 mln price tag was agreed upon to be fully paid in Bitcoin. The buyer went....
The 39th Governor of California Jerry Brown has officially signed Assembly Bill 129, the measure that sought to grant bitcoin and other digital currencies 'legal money' status, into law, Reuters reports. The news comes just weeks after the approval of the final amended version of the bill earlier this month through key votes in both the California Assembly and Senate. AB-129, which first received approval in the California Assembly earlier this February, sought to update a California law under which alternative forms of value such as rewards points, coupons and digital currencies were....
A major online poker website has been buying millions of dollars of bitcoin every day to meet demand from players wanting to cash out in bitcoin. This amounts to $100 million in bitcoin a month as about 95% of players now demand payouts in the cryptocurrency. Poker Site Buys $100 Million of Bitcoin Demand for bitcoin payouts has been rising, particularly after the recent price rally. One of the largest online poker websites, Winning Poker Network (WPN), has been buying millions of dollars worth of bitcoin in recent weeks from OTC desks to meet players’ cashout demand, Bloomberg....
According to a California-based real estate technology company called Propy, a four-bedroom home in Gulfport, Florida, will be tokenized leveraging non-fungible token (NFT) technology and sold for $650K. In addition to the Gulfport home, another blockchain project has launched aiming to purchase The One Bel Air 105,000-square-foot megamansion by creating a decentralized autonomous organization (DAO). Gulfport Home in Florida to be Tokenized and Sold for $650K On February 8, 2022, a home in Gulfport will be auctioned as an NFT, according to the homeowner Leslie Alessandra. The current owner....