[Update 1: An earlier version of the article referred to the 33 price as $33 in order to help visualize the single currency. But that caused some confusion so we changed it. By far the most commonly used symbol for bitcoin is BTC, or a capital letter B with two falling strokes at the top and bottom (₿). ]
A luxury condo in Miami just went on sale for 33 but only in bitcoins.
So translated to dollars, that would be (what’s the date today? Oh yes…) $459,459 at today’s rate of $13,923 per bitcoin. But Tuesday at $16,461, this would be worth $542,000. But last week at $17,221, the condo would cost $568,000. But last Thursday at $11,589/bitcoin, the condo was on sale for $382,000.
The Redfin listing for the one-bedroom 828 square foot condo clearly states the seller is only accepting payment in the form of bitcoin.
Bitcoin recently began slowly penetrating the housing market, however due to its large fluctuations it has yet to become a major player.
Earlier this year, taking real estate purchases in the Lone Star state to a new level, Kuper Sotheby's International Realty said it finalized the first-ever home in Texas that was purchased entirely with the cryptocurrency, bitcoin.
HousingWire wrote an article back in August 2014 on the most expensive bitcoin real estate purchase to date, which was in a posh Lake Tahoe, California community. The community broke the record with a land sale for $1.6 million in bitcoin.
For those new to digital currency, Bitcoins are a long series of incredibly complex, military-grade encrypted alphanumeric characters that can be stored on a piece of paper, in a digital wallet or on an individual computer.
Bitcoin is subject to wild fluctuations in value as its value is based purely on supply and demand, unlike the dollar and other national currencies that have fiat value.
To see photos of the condo being sold for 33 bitcoin, click here.