The Spanish company that made headlines in early November, by helping sell a medieval palace in Ibiza for bitcoin, is coming back for more. This time, there’s an extra twist: buyers can pay in Bitcoin Cash too. With several popular cryptocurrencies booming, there are plans to make real estate sales a full time business.
Spanish Estate With Mansion and More
The new property, called Palm Ridge 527, is another high-end listing near southern Spain’s Mediterranean coast. The entire property is 344,445 square feet (32,000 sqm.), near Benahavís and the exclusive Sotogrande development.
Like the Ibiza deal (which is still ongoing at press time) the Palm Ridge estate is aimed at equally high-end hospitality operators — the mansion itself is 17,222 square feet (1,600 sqm.) and there are guest and conference facilities, nine bedrooms, a tennis court, wine cellar, and the usual hotel amenities like pool and gym.
To give you even more idea of the clientele you could expect to host there, Palm Ridge also has parking garages for 16 vehicles and its own private gas station.
Here’s a saxophone-playing drone to give you a better view:
Fixed Bitcoin Prices, Take a Punt
And the price? 750 BTC, or 3,850 BCH. There’s no fiat currency listing, so both buyer and seller are taking a chance on digital currency prices too.
Speaking to Bitsonline, Curro Quevedo Bueno of tech company Zooo.es explained that was part of the fun:
“We have a target price in fíat, but our idea is, think in bitcoin. Now we know there’s possibility to go down, but it will be a new opportunity to go UP with more power, so it’s one inversion for us.”
The Spanish approach sets it apart from other “property for bitcoin” stories around the world — others, like one this week in Melbourne, Australia, are “willing to consider” part-payment in BTC, giving the impression it’s a publicity stunt. The seller, however, described bitcoin as a possible way to assist with financing the property if banks weren’t offering enough.
People Got Bitcoin Cash ‘for Free’
Bueno is definitely punting on digital currency — and will soon help launch a new subsidiary devoted entirely to bitcoin sales. BitcoinEstate will serve as a platform to connect independent buyers and sellers — listing both luxury and “normal” properties for sale, as well as rentals and possibly Airbnb-style exchange deals as well.
He and other luxury real estate dealmakers like the UK’s Baroness Michelle Mone OBE and Douglas Barrowman are capitalizing on 2017’s bitcoin and cryptocurrency boom, offering attractive investments to newly-minted multi-millionaires.
Bueno is going one step further though — the fact large BTC holders also received “free” Bitcoin Cash in August offers an even larger customer base. He said the decision was purely business and not ideological:
“We love the crypto world, and we think it’s a good idea to support BCH because many people have it, like, for free — and now it’s a good moment to invest in property, and diversify the investment.”
Would you consider making such a large purchase for BTC… or BCH? Tell us about it in the comments.
Images via Palm Ridge 527
The ‘Bitcoin Cash’ section at Bitsonline is sponsored by Bitcoin Cash. In hopes of bringing cryptocurrency to the masses, Bitcoin Cash has set out to provide a digital currency with on-chain scalability, so everyone can use the blockchain affordably. Learn more at BitcoinCash.org and join the official Telegram Group.