Commercial Building in Japan to be sold with Bitcoin

One of the most interesting bitcoin transactions until now might be taking place in the near future. A commercial building in Tokyo, Japan, that is valued at $6 million will be sold with bitcoins. This means that the commercial building will cost 547 bitcoins.

First building in Japan sold for 547 bitcoins

So, the building which was placed for sale by Yitanzi, a Japanese real estate startup, will be sold for cryptocurrencies. The company said during an interview with local media outlet MK that it was actually selling several properties for cryptocurrencies. Of course, the first question that pops to mind in this context is why the company made such a decision.

According to Yitanzi, there are many local cryptocurrency investors who are interested in the real estate market. Apparently, they want to invest the profits that they have made by investing in cryptocurrencies, which have enjoyed huge price hikes. Of course, offering them the possibility to pay for properties directly in bitcoins or other cryptocurrencies could be very beneficial.

However, things might also work the other way around. During the interview, Yitanzi's CTO, Yokozawa Yuske, stated that many investors in real estate are also interested in selling their properties for bitcoin.

Apparently, the reason for this is that they want to invest on the cryptocurrency market, but it is not easy to buy a high amount of bitcoins from cryptocurrency exchanges. Exchanges make investors who are interested in big purchases to go through a complex verification process.  

So, the property is expected to be sold in the coming weeks for bitcoin. The company said that other properties will also be sold for bitcoin, but did not reveal if it plans on accepting payments with other cryptocurrencies, as well, and which would be those accepted.