A homeowner in Quebec is looking to exchange his beautiful 16-acre lakefront property for $3.95 million (CAD) in bitcoins, according to an announcement made on Thursday.
Located on Lake Mempremagog, the estate (called ‘Le Porte Bonheur’) is embellished with centennial pine trees. Under current law, the property is large enough to accommodate seven homes, should the next owner take the land development route.
For those who don’t, prospective homeowners can enjoy a boat house, guest house, and tennis court all on the property.
The upper level of the main property includes a spacious loft complete with varnished wood floors, walls, and ceilings. This includes a family room with a fireplace, two beds, a fully equipped kitchenette and a full bathroom.
It’s the largest property of its kind being offered for bitcoins in Canada in an area that is becoming increasingly attractive to entrepreneurs in the digital currency sector.
But this homeowner isn’t the first to discover the power of digital currency for these types of transactions. There have been a number of other expensive properties offered for bitcoin, including a $2.7 million property in South Carolina, a $3.6 million property in California, and an impressive $7.85 million mansion owned by a Nevada tycoon.
In January of this year, Canadian real estate developer Quantum Properties announced they would be accepting bitcoin deposits for condominiums in Abbotsford.
So why is bitcoin an attractive option for homeowners looking to sell?
Put simply, the lack of a middleman. A full payment in bitcoin (especially with these multi-million dollar sums we’re dealing with) can be sent from point A to point B in a matter of minutes, with little to no fee.
Try doing that with the traditional banking system.
For more information on the property (including pictures), you can visit this page.