In what could be a new record for a real estate transaction involving bitcoin, an unnamed Silicon Valley entrepreneur has paid the equivalent of $1.6 million for a 1.4-acre home site in Truckee, California.

While sellers sometimes offer to accept bitcoin when they put their property on the market — it’s a sure way to attract some press — this time it was the buyer who proposed it.

“When we originally heard the idea of bitcoin, everybody had a little pause. We weren’t educated at how the transaction would go,” Brian Hull, director of sales for luxury resort Martis Camp, told the Wall Street Journal.

Hull said now that the company knows more about the process — BitPay handled the deal — it’s open to using bitcoin in the future. Source: online.wsj.com.

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