Bitcoin is the currency a condo owner is looking for in the sale of his residence in Mississauga, just west of Toronto.
Derryn Shrosbree listed his two-bedroom unit at 35 bitcoin, which according to yesterday’s values, would value the home at around $450,000 (Cdn).
Brett Starke, the real estate agent selling the property acknowledges the currency will disqualify a lot of potential buyers, but provides an opportunity to foreign buyers.
Bitcoin fluctuations have real estate agent Brett Starke, left, updating the price of Derryn Shrosbree’s condo daily. (CBC News )
“For example, if I live in a country where I can’t get my money out of the country but I can get it into Bitcoin, then it gives me the opportunity to enter the Toronto real estate market,” Starke told CBC reporter Natalie Nanowski.
As for the volatility of the digital currency, Derryn Shrosbree is not really concerned.
“I’m an ex-derivative trader from Wall Street, so I don’t mind volatility that much,” he said. “I believe in cryptocurrency… I think it’s the future.”
If and when it sells, it could be the first condo transaction in a cryptocurrency in Canada.
There is a property in Victoria, British Columbia that will accept Bitcoin in payment. And there was another listing in Alberta, but it has been taken off the market.
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