Word comes that Manhattan real estate brokerage Bond New York is now accepting Bitcoins as payment for real properties. Bond, a firm launched at the beginning of the new millennium, says it’s the first brokerage to the accept alternative peer-to-peer currency.
Here’s what they had to say in a news release:
“Right now a bitcoin is worth about 750 USD. The currency is earned by computers solving complex mathematic equations first; so far about half of 21 million bitcoins that will ever be created have been created, and earned,” explains Noah Freedman, co-founder, BOND New York. “Bitcoin is a convenient and inexpensive way for our customers to transfer money so we see it as a win-win situation which will impact the real estate industry.”
We’ve talked a little about alternative currency and real estate transactions, but we’ve tempered our look to the future with news that the government is definitely wary of this completely unregulated payment method. Several questions remain, such as how the buyer will pay taxes that are owed on the sale if they’re buying a property with currency not recognized by the U.S. Treasury. Or, what will the point of sale on this volatile currency be, because the value of a bitcoin varies widely by the minute.
And if brokerages accept bitcoin, what about their clients who aren’t so open to using Bitcoin in lease or purchase transactions? Seem to be more questions than answers.
What do you think of this brokerage’s move to accept Bitcoin? Is it just a way to get attention? And would you consider accepting Bitcoin in a transaction?