Tags: bitcoin | currency | trump | condo

Bitcoin Is the Only Currency Accepted by Trump Condo Seller in SoHo

By    |   Friday, 03 May 2013 03:07 PM

Bitcoin, the new, decentralized digital currency that has investors wondering whether it will be the wave of the future, is the currency of choice for a Trump SoHo building condo owner.

The owner recently put his one-bedroom apartment up for sale with an asking price of 20,874 BTC, which equates to roughly $1.9 million.

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The condo is being advertised exclusively on BitPremier, the first-ever online Bitcoin exchange that exclusively offers luxury goods. The site, which launched on Thursday, is backed by the NYC-based Bitcoin Opportunity Fund.

"I prefer to own Bitcoin to property that's why I would be happy to sell it in bitcoin," the unidentified seller wrote. "I think property is a better asset class than USD, and bitcoin a better asset class than property."

BitPremier Founder Alan Silbert told Business Insider why the seller chose Bitcoin as his preferred form of currency.

"There are plenty of Bitcoin millionaires out there, and it's burning a hole in their pocket," said Silbert, who is also a vice president for GE Capital. "I think buyers will be easy to come by."

Other luxury items featured on BitPremier include: a limited edition signed print of LeRoy Neiman's "Basketball Superstars" from 1977, offered at 103.728 BTC, or $9,750, an Ocean View Condo at a Bahamas Resort for 5,851.32 BTC, or $550,000, and a Ulysse Nardin GMT Perpetual Watch at 267.167 BTC, or $24,900.

Silbert said he thinks Bitcoin will continue to become more mainstream.

"We're finding a lot of wealthy, smart people are getting into the game with Bitcoin," Silbert added. "I think as the ecosystem matures, I think you're going to see a lot more of that."

Not everyone believes Bitcoin is viable though.

The digital currency's highly fluctuating value has some thinking Bitcoin is nothing more than a bubble.

Economists have also expressed the following concerns about the currency to Newsmax's Moneynews.

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Bitcoin, the new, decentralized digital currency that has investors wondering whether it will be the wave of the future, is the currency of choice for a Trump SoHo building condo owner.
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2013-07-03
Friday, 03 May 2013 03:07 PM
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