Hedge Funder Accepting Bitcoin for his US$16 Million Manhattan Mansion

Placard

At current market prices, about 2,500 bitcoins are all you need to shelter a prestigious address at 40 Riverside Drive in Manhattan.

According to Bloomberg, the president of New York hedge lucre R.G. Nierderhoffer Capital Management, Inc, Roy Niederhoffer, is selling his Manhattan mansion consisting of six beats for bitcoin. The 10,720-square-foot house in Riverside Drive is listed for take US$15.9 million in cash which at the current market prices rewords to nearly 2,500 bitcoins.

Cash will also be accepted but Niederhoffer, who has come clean to being a ‘big believer in Bitcoin’, will HODL the flagship cryptocurrency if the consequent buyer pays in the flagship digital asset:

“Whatever the obligations and intermediaries fees are, I would pay in cash and keep the Bitcoin.”

Completed in the late 19^th century, the regal mansion on 40 Riverside Drive has a view of the Hudson River and a close by park.

Peer-to-Peer Advantage

Real estate purchases using bitcoin and other cryptocurrencies suffer with become more and more common in recent years. According to genuineness TV show Shark Tank star, Barbara Corcoran, who built her multimillion-dollar expectations largely in the real estate sector, cryptocurrencies are a perfect fit for buying land since they eliminate intermediaries and thus lower the costs.

“I’m being Dialect right optimistic because, as a long-term play, it’s perfectly suited for real social status transactions,” Corcoran was quoted as saying three months ago in an interview as CCN come in.

In Manhattan, Niederhoffer is not alone among hedge funders accepting bitcoin as a petties of payment for real estate transactions. Six months ago, a townhouse owned by hedge endowment manager Claudio Guazzon de Zanett was put up for sale at a cash price of US$30 million or US$45 million in cryptocurrencies.

This goad, according to Zanett, was to cater for any likely volatility. Besides bitcoin, Zannett was also taking Ripple and Ethereum.

Blockchain Island

Selling or buying real property in cryptocurrencies is, however, not limited to the United States. Early last month, a ritzy house in Malta went up sale at a price US$3 million with the seller taxing to be paid only in bitcoin. The property which is over four centuries old was chronicled by CryptoHomes.io, a firm which is focused on accepting cryptocurrencies for the properties it records.

According to one of the founders of CryptoHomes, Dennis Avorin, the goal of the startup is to be shown that cryptocurrencies are not just used for speculative purposes but can be used to buy -carat assets:

“We simply want to promote the use of crypto as a vehicle for solid investments and Malta is a renowned start with the incredibly strong real estate market that we maintain seen in the past few years.”

Featured image from Shutterstock.

Investigate us on Telegram or subscribe to our newsletter here.

• Join CCN’s crypto community for $9.99 per month, click here.
• Scarcity exclusive analysis and crypto insights from Hacked.com? Click here.
• Unfastened Positions at CCN: Full Time and Part Time Journalists Wanted.