A mansion just outside of Dallas, Texas worth $9,975,000 is available to be purchased through bitcoin, the seller has stated. The mansion has five bedrooms, five bathrooms, a five-car garage, and an elevator to a second-floor guest suite, BitcoinNews reports.
To buy the mansion would require roughly 1,200 bitcoin at current pcie. To mortgage the house, however, one would need to put down $2.02 million, or about 246 BTC, and then pay seven BTC a month. This is based on zero volatility though, so it may not be ideal for big transactions.
However, Coinbase and BitPay provide services to merchants to help guard against fluctuations when accepting bitcoin. These services allow for the instant conversion of BTC to fiat and then deposit the money directly in the merchant’s bank account.
A $1.35 million home in Delaware that was sold earlier this month marked the first successful real-estate transaction with bitcoin in the Northeast United States. Earlier this year, a mansion was sold in Miami for $6 million, paid for in bitcoin.
Bitcoin is making a name for itself in the real-estate industry. Since September 2017, 20 homes around the world have been bought through the cryptocurrency. Realtor Stephen Burke predicts that within five years 25-30% of real-estate transactions will be made with cryptocurrency.