In Bangkok, Thailand, a brand new high-end river-view apartment is being sold under shocking conditions: no Thai Baht, no USD, only accepting Bitcoin, with a price firmly locked at 3.88 BTC, leading to a flurry of comments from netizens. (Background: After the $5 million purchase of BlackRock IBIT: DAT was halted, can SBR take over and reignite the Bitcoin bull market?) (Additional context: Swiss crypto bank Sygnum collaborates with Debifi to launch Bitcoin lending platform MultiSYG, aimed at allowing users to retain control of their assets.) Threads user Edward Lai recently shared a property listing: a brand new high-end river-view apartment in downtown Bangkok, where the owner insists on “only accepting Bitcoin” and has firmly set the price at 3.88 BTC. The post notes that this transaction was initially listed when Bitcoin was about $126,000 (the historical high for Bitcoin this year), and now Bitcoin has fallen to around $87,000, meaning the buyer only needs to pay approximately 69% of the original price (in fiat), effectively saving 30%. Edward Lai stated: “Having coins allows you to directly enter the market! Who says real estate can't be Web3?” Apartment details: Life Rama 4 – Asoke high-end new development According to information disclosed by Edward Lai and publicly available data, this property, which boasts “pure Bitcoin transactions,” is part of the Life Rama 4 – Asoke project, completed in 2024, developed by the well-known Thai developer AP (Thailand). It is a 39-story residential building located next to the MRT Queen Sirikit station, overlooking the Chao Phraya River and the Asoke-Sukhumvit business district. The unit for sale is a rare duplex with an indoor area of 65.33 square meters and a ceiling height of 5.5 meters, situated on a high floor with river views. Project amenities include an infinity pool, sky garden, gym, and 24-hour security, with foreign buyers able to hold 100% freehold. According to the latest listing data from mainstream Thai property platforms, the normal selling price for this type of unit is around 11 million to 15 million Thai Baht (approximately $320,000 to $430,000). If calculated at the “fixed” price of 3.88 BTC: When Bitcoin was at $126,000 ≈ $489,000 (slightly above market price) When Bitcoin was at $87,000 ≈ $338,000 (considered market low price) Is it legal to buy a house with Bitcoin in Thailand? It is worth noting that it is currently completely legal to buy property with Bitcoin in Thailand. Since 2022, Thailand has incorporated cryptocurrencies into its regulatory framework, and the Thai Securities and Exchange Commission (SEC) allows digital assets like Bitcoin to be used as payment tools. Several large developers (such as Ananda, Origin, and AP) have already partnered with the local exchange Bitkub to launch “cryptocurrency home buying plans.” Foreign buyers only need to ensure their funds are from legal sources, complete KYC, and declare forex transactions (FEC) during the transfer to successfully pay with Bitcoin or stablecoins. In practice, most cases still involve third-party trusts (Escrow) or legal witnesses to reduce the risk of paying in coins or transferring ownership first. Public opinion Netizens quickly left over a hundred comments on this post about “pure Bitcoin sales,” with opinions generally divided into the following camps: Optimists: “This is true BTC-based! Physical assets are starting to be repriced in Bitcoin; in the future, houses will be valued in 'how many coins'!” Pragmatic: “Prices should be listed in Thai Baht, and accepting Bitcoin for equivalent payments is reasonable; locking in the number of coins is just gambling on volatility.” Skeptics: “Not even accepting Thai Baht? Feels like the owner is eager to offload and might not be worth even 1 Bitcoin.” Risk-averse: “Bitcoin has no performance guarantee; should the transfer happen first or the private key be given first? What if there's a scam?” Spectators: “I don't have 3.88 Bitcoins anyway, I'll just watch the show for now.” Mathematicians: “This provides a gambling opportunity for both buyers and sellers; if BTC rises again, whoever misses out on these 3.88 Bitcoins will regret it.” Arbitrageurs: “Buying with BTC now, selling at a higher price in fiat, and then using fiat to buy back BTC, isn't that an arbitrage opportunity?” Whether this transaction is a good opportunity for crypto millionaires to buy the dip, or the owner is tearfully cutting losses, or has other motives remains a topic of debate. However, it is undeniable that from Wall Street institutions hoarding coins to the public using Bitcoin as a transaction metric, Bitcoin is gradually moving from once being a speculative tool on the fringes to becoming a mainstream financial market and even part of ordinary people's daily lives. Related reports The four-year Bitcoin cycle has ended, replaced by more predictable two-year cycles. SpaceX transfers $100 million in Bitcoin; is Musk cashing out? Tom Lee lowers Bitcoin year-end target from “$250,000 to $100,000”: All I can say now is that it is possible. <Thai homeowner sells property for a fixed price of only 3.88 Bitcoins! Netizens comment: betting on BTC's high volatility> This article was first published in BlockTempo, the most influential Blockchain news media.
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