A house in far north Queensland has been put on the market for 100 Bitcoin.
The property is known as Wooroonooran Falls and is located at the foot of Mt Bellenden Ker.
Agent Cheyenne Morrison of LJ Hooker Cairns South and the seller, are both advocates of Bitcoin and have invested in cryptocurrency.
Morrison told News.com.au that she suggested the idea to the seller.
“After extensive research the seller has decided that the digital currency offers significant chance of appreciation over the coming weeks, and buyers at the current price would get a discount on the asking price by paying in Bitcoin,” she said.
The property, which includes its own waterfall and a Queenslander-style house, has an asking price of $1.2 million.
The value of that in Bitcoin depends on what day it is.
Bitcoin is known for being extremely volatile but is currently on an unprecedented bull run.
In the last year, Bitcoin has gone up from AU$961 to all-time high of AU$12,772 as I write this.
So buying the house right now in Bitcoin would cost $1.27 million, which is actually above the cash asking price.
A person who has 100 Bitcoin is probably better off hanging on to them. Although some say it is a bubble, the price just won’t stop going up right now.
Amazingly, Bitcoin was worth AU 8 cents in July 2010. At that point, the house would have been a real bargain at less than a dollar.