Child-Actor-Turned-BTC-Guru Buys Amsterdam Mansion with BTC

Child-Actor-Turned-BTC-Guru Buys Amsterdam Mansion with BTC

Date: 
April 05, 2019
Read time: 
2 minutes

Brock Pierce. What a guy. You know he stared in one of my favorite movies when I was a kid? The title will show my age a bit: The Mighty Ducks. It came out in 1992. A group of kids forms an ice-hockey team and goes up against a seemingly unbeatable team. They win of course. It’s almost like an analogy for Bitcoin. Satoshi Nakamoto inspires a bunch of ragtag cryptography misfits to join forces and go up against the seemingly unbeatable big banks. Spoiler alert: BTC is winning!

Brock Pierce. What a guy. You know he stared in one of my favorite movies when I was a kid? The title will show my age a bit: The Mighty Ducks. It came out in 1992. A group of kids forms an ice-hockey team and goes up against a seemingly unbeatable team. They win of course. It’s almost like an analogy for Bitcoin. Satoshi Nakamoto inspires a bunch of ragtag cryptography misfits to join forces and go up against the seemingly unbeatable big banks. Spoiler alert: BTC is winning!

Brock Pierce uses Crypto Lending to buy a $1.3 million dollar mansion

Buying real estate with Bitcoin is old news. The newly crypto rich have been buying mansions, yachts, and exotic cars with their BTC for years. But this latest acquisition by Brock Pierce is something new. Brock didn’t want to part with his BTC -- so he instead paid for the swanky Amsterdam chapel-turned-penthouse by using NEXO. Basically, NEXO is a platform where you put your crypto up as collateral to secure a loan for basic fiat cash.

The CEO of Nexo, Antoni Trenchev, went into detail when asked for comment about Brock Pierce’s monumental, and historic, purchase.

We take that bitcoin and other digital currencies as collateral using a third-party qualified custodian to store it and give them fiat cash for it. But neither the client nor us have access to the coins.”

For a loan of $10,000, you will need to deposit $20,000 in bitcoin. So we lend you 50 cents on the dollar.

Are you New to Cryptocurrency? Get Started Investing Today.

Crypto-backed Lending -- a new and growing market.

During a bull run (or the start of one, as perhaps we are in now) the most sensible option on the table is to HODL (Hold On for Dear Life). Why part with an asset you believe will increase in value significantly? To help address this pain point in the market companies like Nexo have sprung up. They allow HODL’ers to “HODL on” while still using fiat to transact with the world. This helps HODL’ers keep their BTC and thus avoid one of the “25 Mistakes Investors Make.

This future is “a quadrillion-dollar-market.”

That’s a direct quote from Brock Pierce himself. He recently discussed his BTC backed loan with FOX news, commenting that real estate and tokens will one day be an everyday staple of our lives. Indeed, as more people buy BTC and other cryptocurrencies, lending them out will also grow commonplace. This requires trust, transparency, and regulations. Fortunately, we are well on our way!

 

Posted by R.R. Hauxley

R.R. Hauxley traveled around the world ... on 1 Bitcoin. 18 countries, 12 months, 1 Bitcoin. Along the way he met and interviewed the sharpest, brightest minds in crypto today: Vitalik Buterin, Charlie Lee, and more. These travels solidified in him the truth: cryptocurrencies will set us free. Today Rafael educates the crypto curious and continues investing in refreshing, innovative, success driven projects.

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