Hedge fund manager will accept Bitcoin for his $16 million Manhattan mansion

21 Oct, 2018
by Richard Allen
News
Hedge fund manager will accept Bitcoin for his $16 million Manhattan mansion

According to Bloomberg, president of the New York-based R.G. Niederhoffer Capital Management Inc, Roy Niederhoffer is selling his six floor, 10,720-square-foot Manhattan mansion for around $15.9 million, or the equivalent in Bitcoin, which translates to 2,500 BTC.

“I’m a big believer in Bitcoin,” Niederhoffer says. “I really am so bullish on it, and I want to own more of it.”

If someone were to pay in Bitcoin, Niederhoffer says he would cover his share of the closing costs in hard currency. Whatever the obligations and brokers fees are, I would pay in cash and keep the Bitcoin,” he said.

Completed in the 19th century, the mansion sits on 40 Riverside Drive overlooking the Hudson River.

CCN reports TV show Shark Tank star Barbara Corcoran, who made her fortune in real estate, says that cryptocurrencies are a perfect fit for buying property since middlemen are not required, lowering costs.

Chepicap reported earlier this month that Manhattan tokenized its first real estate property in East Village, valued at $30 million.

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