- Posted at 4:56, January 02, 2014
- By Russ Bleemer
New York City-based real estate brokerage firm Bond New York is bring bitcoin to residential and commercial leasing deals.
In other words, you can now pay for your real estate transactions in virtual currency.
Bitcoin is an online currency that passes transactions through databases, like bit torrent file-sharing, and not banks--providing privacy that is both sought by users as well as a source of suspicion about the transactions.
Valuations spike wildly in the bitcoin world, so both Bond and its customers will have to time deals.
Bond, a seven-office, 14-year-old firm, said in its release that it "is believed to be the first real estate brokerage to accept this fairly new form of currency."
The Real Deal this morning ran an item about the press release and noted that Bond isn't really the first. Go HERE.
Bitcoin is gaining acceptance, if warily. A conservative Texas congressman is using it to solicit donations--potential Federal Election Commission disclosure issues notwithstanding. And competitors are emerging: Just today, "Coinye West," with no relation to the hip hop star, said it would launch next week, according to the Washington Post.
Bond says its clients will benefit by using bitcoin for real estate transactions for a variety of expediency reasons, including identity protection.