The real estate listing looks like any other, advertising a condominium for sale in Miami with a Euro-style kitchen and unobstructed views of Biscayne Bay. But interested buyers can’t make an offer with just any currency.
In all caps at the end of the property description, the listing sends a warning to anyone shopping with cash or credit.
“PRICE? ONLY ACCEPTING BITCOIN.”
Redfin, the Seattle-based real estate company, pointed out the MLS listing to GeekWire on Wednesday, saying that while it may not be the first of its kind, it’s definitely rare.
The home price is listed at $33 in Bitcoin and a 20 percent down payment equates to $7. That price translates roughly to $535,000 at current market prices for the cryptocurrency.
“Buying or selling a home is generally the largest transaction in someone’s life,” Redfin chief economist Nela Richardson said in statement to GeekWire. “Switching to a currency with so much volatility puts people at risk in an area that should be a sound, steady investment. We think this home for sale is more of a rare event than the start of a larger trend.”