Hedge Fund Manager Will Accept Bitcoin for His $16 Million Mansion

Mansion for sale – Roy Niederhoffer, New York resident and President of New York hedge fund R.G Niederhoffer Capital Management Inc is placing his 10,720 square foot mansion for sale.

The six floors mansion located at 40 Riverside Drive in Manhattan was bought by Mr. Roy in 2013, for about $12.9 million. Five years after its renovation, he has reluctantly put up the mansion for sale at $16 million; with payment to be accepted in either Cash or Bitcoin equivalent (2500 BTC) at this time.

Speaking on his crypto interests, he says:

I am a big believer in Bitcoin, I really am so bullish on it and I want to own more of it. If someone decides to pay in cryptocurrency, I sure will prefer it. Whatever the obligations and brokers fee are, I would pay in cash and keep the Bitcoin.

A New Trend for Adoption

The above mansion sale is one of many real estate purchases accepting Bitcoin and other cryptocurrencies as payment. This new trend is set to continue as more landlords have adopted crypto payments for either outright sale or rental properties.

Notably in September, a mansion in Malta (World’s Blockchain Island) had been put up for sale on CryptoHomes.io with only’ Bitcoin payment accepted by the owner. Just as six moths ago, a townhouse owned by another hedge fund manager Claudio Guazzon de Zanett was put up for sale at $30 million cash payment or $45 million in cryptocurrencies.

According to Zanett, the varying prices was to carter for any possible volatility in cryptocurrency value. He also stated he would accept a  variety of choice cryptocurrecies including Bitcoin, Ethereum and Ripple.

For these landlords and crypto enthusiasts alike, aside its appreciative value, they describe cryptocurrencies as a perfect fit for buying property since it eliminates intermediaries (middle men) through peer-to-peer payments and thus lower costs.

Many crypto and real estate advocates opine that the current use case will prove that cryptocurrencies are not just used for regular transactions or speculative purposes but can also be used to buy solid assets.

Would you accept cryptocurrency payment for your property? Share your thoughts in the comment section.

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CryptoEnthusiast,CryptoEducator and Angel Investor,Writing Pro and Techie