By Stephanie Baker Sep 18, 2014 11:00 AM GMT+0700 2 Comments Email Print
Photographer: Michael Runkel/Getty Images
A software developer is selling a private island off Pohnpei in Micronesia for $599,000, or 1,030 bitcoins.
An island in Micronesia. A gold mine in Canada’s Yukon Territory. Tickets to the 2014 Victoria’s Secret fashion show in London. Those are just a few of the assets on offer at BitPremier, a website targeting bitcoin holders looking to unload some of their digital hoard.
The number of listings on BitPremier took off when the price of a single bitcoin — the controversial currency that exists only in cyberspace — skyrocketed to $1,137 at the end of November 2013 from $12 at the start of the year.
After regulatory crackdowns around the world, the value of bitcoins dropped by more than half. However, even with the price fall, there are those sitting on bundles of bitcoins with very few ways to spend them. Others are finding it hard to obtain large quantities of bitcoins without moving the price in the still-nascent market.