Hedge fund manager will accept Bitcoin for NYC mansion

Roy Niederhoffer, President of R.G. Niederhoffer Capital Management,  is selling a 10,720-square-foot, 32-foot-wide mansion. The house, situated in New York, is listed for $15.9 million, with Niederhoffer accepting either cash or the equivalent in Bitcoin.

“I’m a big believer in Bitcoin,” he tells Bloomberg. “I really am so bullish on it, and I want to own more of it.”

Were someone to pay in the cryptocurrency, he adds, he would simply cover his share of the closing costs in hard currency. “Whatever the obligations and brokers fees are, I would pay in cash and keep the Bitcoin.”

Malta

Last month, we reported that Malta’s seemingly unstoppable rise as the world’s leading blockchain hub had stepped up a gear as one of the island’s many crypto-related businesses put a vast property up for sale in Bitcoin.

The 860sqm historic building in Valletta comes with permission to be transformed into a hotel or even office space. It comes with a three million euro price tag but can only be purchased in Bitcoin, giving its investor the opportunity to claim the title of making the first cryptocurrency property purchase on ‘Blockchain Island’.

“I believe that there are a number of affluent individuals in this new business community viewing Malta as the most attractive place for investment,” said Ian A Fitzpatrick – the property’s current owner. “Investing in real estate in Valletta is certainly a smart step for anyone looking to establish himself on Blockchain Island.”

Further real estate listings

The sale is part of an initiative called CryptoHomes.io which, according to a statement on its official website, seeks to make more real estate listings available through crypto.

CryptoHomes has partnered with Cubits – a multi-currency wallet. One of the venture’s initiators – Dennis Avorin – said the move was a big step in proving cryptocurrency has a future in purchasing assets in the same way as regular cash.

“Crypto is here to stay and we want to showcase that cryptocurrencies are not only commodities for speculators but also a means to purchase solid assets,” he said.

“Purchasing real estate with crypto is like purchasing real estate with fiat – the same due diligence and rules apply. We simply want to promote the use of crypto as a vehicle for solid investments and Malta is a great start with the incredibly strong real estate market that we have seen in the past few years. With the launch of Blockchain Island, we are certain that this trend will strengthen even further.”

In order to deliver full know your customer (KYC) knowledge and due diligence, CryptoHomes has also partnered with blockchain venture KnowMeNow.

For further information, visit https://cryptohomes.io/