Would You Pay $1 million in Bitcoin to Live Next Door to the Packers?
A house directly next to the Green Bay Packers’ home ground is for sale, and the owner is looking to get no less than $1 million in bitcoin for it. Despite the asking price being almost four times what he paid for it in 2011, Chris Murphy is so positive about the sale that he believes the house will be snapped up within four months.
As one would think, Murphy is a born and bred Packers fan, having held season tickets throughout his life. As a child, he used to cycle over to Lambeau Field to watch the games, he recalls fondly.
The three-bedroom home is owned by Murphy’s company, FinPar LLC, and used to host Packers parties for his family and friends. Being one of only six properties with access to the Lambeau Field parking lot, Murphy’s piece of real estate is in prime position for the good old post-game tailgating party.
910 Stadium Drive is not the only house alongside Lambeau Field to go for $1 million. A nearby neighbor in Shadow Lane was asking a similar amount in September 2017 for his two-bedroom, two-bathroom property, although not specifically in cryptocurrency.
Why opt for the payment in cryptocurrency?
Surprising to some, it is not all that uncommon anymore for property to be exchanged for a decentralized digital currency, albeit largely speculative. Several Miami real estate brokers have accepted bitcoin payments in 2017, with many luxury homes in the United Kingdom and throughout the world following the same trend.
According to Murphy, his primary motivation for requesting a cryptocurrency payment is to raise awareness about digital currencies and blockchain technology.
For those yet unaware, blockchain is the underlying technology infrastructure that Bitcoin and Ethereum are built on. Simply put, it is a digitalized open-source ledger which records and encrypts every transaction ever made.
Not only are blockchain payments highly secure, they are incredibly fast with a significantly reduced transaction fee.
Besides raising awareness, a bitcoin property purchase is far less complicated than one might think. With the transaction completed in a matter of minutes, it makes the process a breath of fresh air for all who are involved, offering a much smoother experience than a traditional housing sale.
Murphy also sites that he wants to show people that bitcoin has value as an actual currency, which has always been its intended purpose. With the exponential rise in value over 2017, many people saw it akin to a stock investment; an asset to be held while it appreciates.
Now that bitcoin’s value dropped and has been hovering between $14,000 and $15,000 for some time, more people may begin to appreciate its worth as a seamless digital payment system.
Murphy partnered with the pioneering real estate company Propy for the sale. The decentralized title registry will list the property on its website and facilitate the cryptocurrency transaction on Murphy’s behalf.
The listing for the house can be viewed here.