A large slice of tropical paradise bordering the Coral Sea has become one of the first properties in regional Queensland to be put up for sale for cryptocurrency.
Aquila Cove, 100km south of Mackay, has been owned by the same family for generations and recently hit the market for 30 bitcoin or 440John De Costa, the owner of the 162-acre block of land, said he had been trying to sell the place on and off for five years for $2.2 million.
"They were looking for a property that offered them and their families a refuge from the world of COVID." "He explained it to us, and we sort of agree with the philosophy of cryptocurrencies, and bitcoin in particular," Mr De Costa said.Antonia Mercorella, the chief executive of the Real Estate Institute of Queensland, said this was probably the first time she had seen a regional Queensland property being offered for sale in this way.
Mr De Costa said he realised the use of crypto was not very common or widely understood in Australia, but he believed it was gaining momentum."Teenagers are buying apartments in New York with bitcoin that they've mined and that sort of thing.""For them to transfer bitcoin to me is a simple low cost, almost no cost operation," he said.
Dr Breidbach said to the best of his knowledge, there were no legal restraints on selling a property for bitcoin.
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