A six-story stucco-fronted mansion near Portobello Road in Notting Hill, London, England is on sale for £17 million.
What’s the catch? The owner strictly accepts BITCOIN only for the payment.
According to Standards’ report, Lev Loginov, the co-founder of London Wall, aims to pioneer Bitcoin transactions in Great Britain. That’s the main reason why they strictly accept Bitcoin only as payment for the mansion.
“We want to shift all the perceptions on cryptocurrency. We think in future it is going to eliminate the need for solicitors and property title and is going to change how real estate transactions are conducted. We would like to be the first company to transact in Bitcoin. It can be done quicker, more efficiently and it is much easier to deal with than using banks, which are putting in unnecessary over-regulation.”
Despite the fact that they still need to address certain issues such as the need to resolve in consummating a sale, Loginov is still confident that all issues will be resolved based on his previous experiences in the industry.
”I grew up in Siberia [after] the Soviet Union collapse in the Nineties. We had no money, and barter was a common thing. We were exchanging potato bags for TV sets and cars. I’m sure leading London agents can figure out how to take commissions for a £17 million property in cryptocurrency and I have full faith in HRMC to figure out how to tax it.”
This is not the first time that we see news such as this wherein sellers wants to accept Bitcoin as payment for real estate properties. This is already happening in Texas, Miami, Turkey, and UAE.