Have you ever dreamt of having a small personal heaven on Earth? If yes, then you should definitely take a closer look at a 13-acr piece of land on an island in the Caribbean.
Union Island is a part of the nation of Saint Vincent and the Grenadines and this is where you can purchase a real estate for 600 Bitcoins. Today the company Bloody Bay has announced that it sales a land property with an area of 52609 square meters for 600 bitcoins. This price already covers a new stone house built by the company Seth Stein Architects. A balcony or a big full glass facade can also be built. Union Island has more than 3000 residents including some rather famous people. For instance, you can have Mick Jagger, Richard Branson or Madonna in your neighborhood. Architectural Digest reports that the company Bloody Bay accepts only bitcoin payments.
Applications offering more than 600 Bitcoins (almost $7.5 million) will be rejected. This means that a potential purchaser should be a miner or an investor.
Considering the fact that bitcoin rate increases every day and has already broken its all-time record several times within only a few months, the cost of this real estate on Union Island is anticipated to increase.
It wouldn’t be the first time when blockchain technology is used in the real estate sector. In October an investment company listed a villa for sale in London. Its price was set in fiat money but there was a possibility to pay Bitcoin equivalent.
Currently several countries are developing special programme to introduce blockchain in their land registry systems.