Now You Can Buy a Condo in the Trump Hotel With Bitcoins
Congratulations, rich people, there's now a luxury marketplace where you can spend your digital currency.
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BitPremier, an e-commerce site that launched Thursday, accepts only bitcoins (BTC). It features some pretty spectacular items for sale, including a condominium in the Trump SoHo Hotel in New York that's going for over 18,000 BTC ($1,947,500).
"There's a lot of wealthy bitcoin owners who have nowhere to spend them," BitPremier founder and CEO Alan Silbert told CNBC in an interview.
A seller lists an item in U.S. dollars, and a real-time ticker on the site converts the amount to bitcoins. Other listed items include an ocean-view condo in the Bahamas for over 5,100 BTC ($550,000), some pricey artwork and an Ulysse Nardin watch, which is going for over 200 BTC ($24,900). Two Ferraris and a Mercedes are expected to go up on the site next week.
Silbert, who has a background in commercial banking, said the Washington-based start-up is a part-time venture for now. He added, however, that he envisions healthy demand for the service from bitcoin millionaires and pointed out that this is the only luxury sales site for digital currency.
"In general, we want to elevate the purchasing power of bitcoin and give the bitcoin community something they don't have right now," Silbert said. "It's an amazing concept and opportunity, and it's going to evolve many times over from here."
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The company is backed by NYC-based Bitcoin Opportunity Fund, which has invested in a number of start-ups, including bitcoin exchanges CoinLab.com and Tradehill.com, and payment platform BitSpend.net.
Bitcoin was trading at about $110 on Mt. Gox on Thursday afternoon.
—By CNBC's Cadie Thompson; follow her on Twitter @CadieThompson