SAN FRANCISCO, April 26, 2018 /PRNewswire/ -- Cryptocurrency is an increasingly common topic, having edged its way into mainstream conversations. Unregulated by banks, these digital currencies manage to penetrate almost every industry, including real estate. Many investors are curious to find ways they can capitalize on this trend, regardless of its fluctuating values. Although there are still some critics, it continues to entice buyers and sellers in the real estate industry.
The Bullock & Sarkissian Team of Golden Gate Sotheby's International Realty were involved in two of the first real estate transactions involving cryptocurrency in Marin County. "As real estate professionals, we are curious to see how our roles will be changing due to this trend, and we advise everyone to do their research before they get involved," says the Bullock & Sarkissian Team. "It is safe to say we will most likely see transactions improving in the long road ahead."
For the first time ever, tech savvy buyers have the chance to use cryptocurrency in the purchase of a home in Belvedere, CA. Listed for $6,495,000, 408 Golden Gate Avenue is completely private with expansive views of Tiburon and Belvedere Cove–the ultimate entertainer's paradise. Ideal for a young professional, family or the avid host who aims to please, this rare residence feels a world away from it all, while just minutes from San Francisco's tech, finance and venture capital epicenter.
The seller, Hank J. Holland has offered to accept partial payment via Bitcoin, Ethereum, or Ripple, making this the first property in Belvedere up for cryptocurrency sale. While there have been a handful of homes sold this way in other cities it is still a relatively rare option. Excited to be on the cutting edge of history, Holland says, "I am optimistic about the cryptocurrency ecosystem and about the potential of developing a viable store-of-value alternative to fiat currencies." It has been predicted that the use of cryptocurrency will soon gain more popularity with big-ticket purchases, including real estate.
This 4,890 square-foot, three-level modern home has it all. The architecturally-significant retreat designed by Daniel Hunter, AIA, is approached through a lush, tropic-inspired garden and floating entry bridge leading to a dramatic foyer and central staircase with curved glass walls.
The home's interiors feature grand entertaining and living spaces, four bedrooms-including a spacious and completely private master suite-media room, exercise room, pool room, a sleek open-plan kitchen and a detached guest suite currently used as a virtual reality golf course where the grass is guaranteed to always be greener. Outdoor living spaces offer a plethora of lifestyle and entertaining options, from a swimming pool with expansive terrace and poolside lounge area, to a verdant garden terrace with al fresco dining area, to a level turf athletic green.
For a buyer that is well-versed in the nuances of cryptocurrency, this exciting chance to use their digital assets to purchase a luxury home is possibly a once-in-a-lifetime opportunity.