Detailed on the ForSaleByOwner.ca site, Taylor More of Alberta recently listed his two-bedroom bungalow for 405,000 Canadian dollars (approximately $395,000). However, More is interested in accepting the digital, online currency known as Bitcoins as a portion of the purchase price or covering the entire purchase price. Sitting on nearly three acres, the property includes views of a mountain range in addition to a nearby river. The two-bedroom, one-bath home is approximately 900 square feet, however the property includes a 2,800 square foot workshop with two additional finished bedrooms separate from the bungalow.
In an interview with the BBC, More indicated that his family was shocked to learn that he was planning to accept Bitcoins for a portion or the entire sales price.When asked why he wanted such a large allotment of Bitcoins instead of Canadian currency, More stated “Bitcoins are really hard to get your hands on if you want to get them in large quantities. I have a couple projects that I want to get started, and they will take a lot of Bitcoins.”
With the current value of a Bitcoin hovering around $70, More would need to collect approximately 5,650 Bitcoins to match the purchase price. However, that number can easily rise and fall as the price of Bitcoins continues to fluctuate.
The value of Bitcoins have increased steadily from $30 at the start of March, but spiked over the past week possibly due to a BGR report that indicated residents of Spain were looking into the Bitcoin currency in order to protect their savings from the hands of government officials. The Bitcoin currency has also become significantly more mainstream over the past twelve months with blogging giant WordPress and domain-name site NameCheap accepting Bitcoins for payment. In addition, a startup is helping hungry Bitcoin owner trade their virtual currency for pizza made by Domino’s Pizza, Papa Johns or Pizza Hut.