By Lindsay Cohen Published: Sep 5, 2014 at 6:59 PM PDT Last Updated: Sep 5, 2014 at 8:18 PM PDT
SAN JUAN ISLANDS, Wash. — A million dollar home in the San Juan Islands is expected to hit the market later this month, and the sellers don’t want a single dime for it.
Instead, they’re asking for payment by Bitcoin, the digital, worldwide currency. If the sale goes through, it will likely be the first of its kind in Washington state, real estate experts said.
“It’s just a better currency for today’s transactions, which are all electronic. No one’s using cash anymore,” said real estate agent Matt Bohner, who will be listing the house. “The writing’s on the wall that this is going to win out over time.”
Bitcoin, a virtual currency developed in 2008, has risen to popularity in recent years. It isn’t backed by a central bank or government and has fluctuated in value, but proponents argue it is a safe and easy way to tranfser funds without large bank fees.
A tech entrepreneur made a Bitcoin gift to a Washington college earlier this year, and a Lake Tahoe home recently sold for $1.6 million in Bitcoin.