Man buys house with Bitcoin, lucks into a $1.3M profit

Jan27

by Sindy Cator on January 27, 2017 at 4:46 pm

While Bitcoin has starred in a series of horror stories about wasted retirement funds and lost fortunes due to its notorious unpredictability, one man from California lucked out big time on his recent house purchase – and all thanks to the popular cryptocurrency. Speaking to Bloomberg Markets, Bitpay CCO Sonny Singh told an intriguing story how Bitcoin’s volatility accidentally helped the buyer in question take home a profit of approximately $1.3 million during the exchange from the cryptocurrency to American dollars. Singh and his company were recently approached by a real estate developer that received an offer from a prospective buyer who expressed a…