The home was listed on Craigslist for 2,099 Bitcoin, roughly five million Canadian dollars
A Coquitlam home was advertised for sale on Craigslist earlier this month for 2,099 Bitcoin. Not dollars, only Bitcoin. While 2,099 may not sound like much, the number actually equates to roughly five million Canadian dollars with current exchange rates. The Craigslist ad appeared in the Vancouver and Hong Kong real estate pages of the website, garnering quite a bit of attention from media outlets and Craigslist browsers alike.
The ad did not provide any of the home's specifications, but rather stated that Vancouver is "one of the hottest markets on the planet, voted #1 place to live in in the world" and that the seller was also willing to accept payments in Ethereum, another cryptocurrency comparable to Bitcoin.
The less-than-conventional Craigslist ad was deemed "suspicious" by the Huffington Post and drew attention to the Chinese government's crackdown on cash outflows from its local economy. Chinese citizens are not allowed to take out more than $50,000 outside of the country for investment purposes and are required to sign a letter stating that they will not be using the cash to invest in overseas real estate. In order to circumvent these regulations, a growing number of Chinese investors have resorted to using the Bitcoin currency for real estate transactions.
The Craigslist ad has since been taken down but below is a photo of the original posting.
Bitcoin House
