Changpeng Zhao, or “CZ”, the CEO of Binance, one of the largest cryptocurrency exchanges in terms of trading volume, has tweeted to his nearly 300k followers that “the world's first live property auction using cryptocurrency” will be held next month.
Binance Coin And Bitcoin Accepted As Payment
The forthcoming auction will begin on April 8th, 2019 (at 11 am AEST) and people can make payments in bitcoin (BTC) and Binance Coin (BNB). As explained in a blog post on RealEstate.com.au, the auction is set to “utilize a borderless payment system” which includes accepting payments in decentralized cryptocurrencies. The blog also noted that “the onsite auction will be conducted by James Pratt Auctions” and that the luxurious property “set new benchmarks in design excellence, innovative engineering and ultimate liveability.”
Located on 1 Beech Lane, Casuanna, New South Wales (NSW), Australia, the beachfront residence has “drawn inspiration” from Google Architecture, the blog mentioned. As described in the post, the property has been built according to the “exaggerated and once-futuristic style, where buildings are defined by geometric shapes and bold use of glass, concrete and steel.”
The blog also noted that “the 412\m2 elongated residence balances bold elements with timeless materials.” Some notable features of the property include:
- “a soccer pitch”,
- “in-ground trampoline”,
- “gated beach access”,
- “covered alfresco entertaining terrace”,
- “outdoor shower”,
- “a 25m heated lap pool with an adjustable Olympic-grade starting block and black-tiled lane markings.”
Property On Sale For $1.8 Million In Bitcoin
Clarifying via Twitter that the residence is “not a Binance house”, CZ mentioned that he “liked the [property] a lot.” Responding to CZ’s post, Trigon Trading (@TrigonTrading), a firm that facilitates high volume over-the-counter (OTC) trades in bitcoin, ether, litecoin, and XRP, revealed that it will be assisting NuYen (@NuYenExchange) in settling the BTC to Australian dollars (AUD) real estate auction.
Commenting on the listing, Twitter user rallyqt (@rallyqt) wrote:
This house is futuristic! It’s for sale for 471 Bitcoins $BTC (appr. $1.8 million at current prices) or I’m guessing ~200K Binance coin $BNB. The crypto price is way cheaper than fiat price. Nice.
Meanwhile, Brad Laurie, an Australian resident who has his own Youtube channel to help educate users about cryptocurrency, remarked:
I actually have seen this house for sale for a while now, (it's down the hill and road for me in Australia). Imagine @cz_binance in a decade. When it was first advertised it was just in $BTC so this addition of $BNB is interesting.