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A couple from Calgary in Canada, Jennifer Blachette and Martin Kanka, are selling their house and asking for 27.1 Bitcoin(BTC)trade instead of dollars. This might be the first case of its kind that has drawn a lot of attention from media outlets.
The local news outlet CTV News Calgary reported that the husband and wife Blachette and Kanka have recently put their house for sale. The surprising thing about it that caught the attention of many is the price they were asking for, or more accurately, the price’s currency. The couple asked for 27.1 Bitcoin (approximately $235,000), instead of dollars.
Bitcoin and other cryptocurrencies are becoming more and more prevalent, and being accepted worldwide for buying goods and services. However, it isn’t something you get to see everyday (but it might become common in a nearby future) that people sell their house for Bitcoin. it could also be the entry point of Bitcoin to the real estate industry.
As reported by CTV News Calgary, Martin Kanka says he is more bullish on cryptocurrencies than on Calgary’s real estate. He further said that cryptocurrency i.e. Bitcoin will give whopping returns in the near future compared to investment in real estate in Calgary. He stated:
“Quite frankly I’m very certain that the value of those houses will deteriorate or go lower in five to 10 years. Whereas I’m certain that bitcoin two years out, five to 10 years out, is going to be astronomically higher.”
Jennifer Blachette said that she had faced several issues while dealing with cash and one of them was being duped by banks. “I’ve been defrauded through banks,” says Blanchette, “I’ve had stuff happen, (and) I’ve had my purse stolen. This is totally different.”
Bitcoin, alternatively, is not regulated by the government and no big institutions control it. With the advancement of crypto technology, particularly blockchain, it has also become convenient to transact with Bitcoin. Moreover, BTC has been around for a decade now and accepted by service providers across the globe.
Canadian Land for 2,800 Bitcoin
Talking about property exchange for Bitcoin, the above-mentioned case wasn’t the first crypto-real estate one. Recently, a land near Calgary Airport has been put for sale for around 2,800 Bitcoin (nearly $33 million dollars).
Kris Dennis, with Greater Property Group, who represents the seller, said that “This is a one-of-a-kind property and offering the option to buy in bitcoin opens up to the international audience,” he says. “When a buyer uses bitcoin or any cryptocurrency, the transfer of funds is much faster than the traditional banking system and less expensive.”
Dennis further said that out of the clients whom he met, many of them are interested in using cryptocurrency for acquisition purposes.
Getting back to Blanchette and Kanka, they haven’t received any serious offer yet but they are willing to wait. “Some of them think I’m crazy,” says Blanchette. “But I do believe it’s the future.”