By Michael J. Casey | The Wall Street Journal
When James Canning-Cooke sold his Volkswagen van to a Russian buyer in is home of Tallinn, Estonia, the deal came with an unexpected condition: The man wanted to pay for the vehicle with bitcoin.
Although the 42-year-old expatriate Englishman’s digital-currency holdings have since doubled in value, he now is faced with the challenge of what to do with the 22 bitcoin—currently worth about $18,600, according to Coindesk’s index of three bitcoin exchanges.
Mr. Canning-Cooke may have found the answer in RealtyShares, a San Francisco startup that this week will become one of the first real-estate investment platforms to accept bitcoin. The firm, which operates a crowdfunding marketplace connecting property owners with prospective investors, will allow bitcoin investments worth as little as $1,000—or just over one bitcoin—in various property ventures listed on its site.
Statement by Rose Law Group partner Ryan Hurley: “This is a great example of the “mainstreaming” of Bitcoin. What was once the domain of drug dealers and computer programmers is now creating new asset classes and ways for individuals to participate in innovative investment opportunities.”
