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With the growing acceptance of Bitcoin as a means of payment, people have been using digital currency to purchase coffee, pizza, and other items. Recently, something new has joined the list, which is buying luxury cars and houses with crypto.
Let’s say you have been able to accumulate BTC and are now a millionaire. If you are looking for a luxury home to buy, Tony Buzbee is to the rescue.
A high-ranking lawyer in the United States, Tony Buzbee, has decided to sell his house in Houston. He noted that he is ready to accept payment using Bitcoin. This is according to the listing on the real estate firm’s website in charge of the sale, Douglas Elliman.
Is The Home Worth $27.5M?
The house is going for $27.5 million, making it one of the most expensive houses in Houston. One would be wondering why the tag price is high. The house is located in River Oaks and is one of the houses in the Country Club Estate. The size of the property is 12,000 square meters. The five bedrooms available all have their own private bath. The garage can accommodate six cars comfortably. The spacious wine cellar located underground is another of its perks.
Other things found in the house include a library, movie theater, game room, fireplace, and a personal gym for those who want to stay fit.
One thing that sets this house apart from the others listed for sale is the description provided by the property agent, Beth Cassidy. Underneath the description is a phrase stating that Bitcoin will be accepted for payment.
According to Wall Street Journal, The lawyer bought the property in 2013, paying in cash. He purchased the house when he was with his previous wife, Zoe. Now that the former candidate for state Mayor has another wife, health wishes to sell the property directly that the estate market is booming and settling down.
Price Of The House In BTC
Accepting crypto as a means of payment is a risky choice, considering how the Bitcoin market has been fluctuating lately. Bitcoin has no financial regulation and is prone to severe volatility.
There have been recent cases where the price fluctuated wildly. One of such cases was the 35% drop recorded by the crypto after reaching a peak of $67k last November. Currently, the coin is trading at the $43k region.
At the current value of BTC, the price of the luxury home is about 625 BTC, but as of November, when it peaked, it would have been 407 BTC. However, any risk the lawyer would be taking will even out if he sells the house when prices are high in the city.
One other instance of BTC use in connection to selling a house was back in 2021. CODA became the first house open to Bitcoin lovers to buy.
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