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Bitcoin Accepted: Homeowner Puts £80,000 Property for Sale

Last Updated March 4, 2021 5:01 PM
Rebecca Campbell
Last Updated March 4, 2021 5:01 PM

A 49-year-old man has decided to put his house up for sale for £80,000; however, he’s willing to accept bitcoin for it too.

Sean Atkinson from Grimsby, a major seaport on the east coast of England, said that he is willing to sell his three-bedroom house for £80,000 or £100 ‘plus bitcoins,’ reports The Telegraph .

Bitcoin has been enjoying an unprecedented rise in recent weeks. Yesterday, it was reported that the digital currency had risen to a new historic high of $7,598. Such is the rise of the cryptocurrency that it remains to be seen if it will hit the $10,000 mark by the end of the year.

However, while bitcoin has seen its value rise it could also drop in price. How far it could potentially fall, though, is not known. For Atkinson this is a risk he’s willing to take and that if bitcoin does decline in value he would honour the deal agreed.

He said:

I will honour the agreement and we’ll agree at what point the sale takes place. If the [bitcoin] price drops through the floor, I’ll still honour it.”

According to the report, there are two potential buyers that have expressed an interest in purchasing the property. One of which has held the digital currency since 2012.

Atkinson added:

At that time there were about $10 (£7.65) and now they’re over $6,000 (£4,700) so he’d be getting the house for practically nothing.

Rather than spending the money he makes from his house selling on the purchase of another house, Atkinson states that he will be holding his coins to spend them as businesses begin accepting them for everyday items.

With bitcoin’s value rising homeowners are becoming more open to accepting the digital currency for the purchase of their home. In October, a luxury London mansion was put up for sale with the asking price of £17 million pounds. Located in the trendy Notting Hill area in west London, it’s hoped that the transaction will be conducted via the cryptocurrency.

It’s not just homeowners that are realising the benefits of accepting digital currencies. So too are retailers. So much so, that luxury furniture retailer and interior design service provider Juliettes Interiors has become the first high-end U.K. retailer to accept bitcoin.

The aim is to provide customers of Juliettes Interiors with the opportunity to pay for high-end furniture with the digital currency, thus enabling the company to expand its customer base.

Featured image from Shutterstock.