Bitcoin (CRYPTO: BTC) is currently trading for US$48,993 (AU$68,413). That means if you're sitting on 14.6 bitcoins you could be the proud owner of the Sushi Sushi outlet, located on Cavill Avenue in Surfers Paradise, Queensland.
If you're looking to pay the $1 million in cash instead of Bitcoin, you're out of luck. The Sushi Sushi retailer is the first in the world to offer its store for sale for crypto.
Image source: Getty Images
Prime location and an NFT
The prospective buyer will get more than just the bricks and mortar location for their Bitcoin. The company's CEO, Scott Meneilly, a self-proclaimed crypto enthusiast, is also throwing in a non-fungible token (NFT).
As The Australian reports, he's hoping "a craze in 'Bored Apes' and 'Crypto Pugs' will translate into real-world success".
The future owner won't have to run the store, that's all taken care of. For 14.6 bitcoins (at current prices) they will receive all future profits, and not be liable for any losses.
Meneilly said that despite the fact NFTs are "sweeping the globe" they remain elusive to most people.
According to Meneilly:
We wanted to put a flag in the ground and move as quickly as the technology space is moving, and selling a store with crypto was a great way to let people know we are serious about playing in this space. We see a massive opportunity in using blockchain, and we felt that selling a franchise store was a great place to start.
Meneilly added: "There are billions of dollars in crypto currencies and people are looking to use their crypto and transfer that wealth into more traditional investment opportunities."
Bitcoin and cryptos going mainstream
In 2021, Bitcoin and the wider world of altcoins took some big steps towards mainstream adoption.
Ian Lowe, CEO of crypto wealth platform Dacxi, told The Motley Fool: "Cryptocurrency's role is evolving. Our research shows that the vast majority, 56%, of investors in Australia are investing in cryptos with long-term goals in mind."
With this evolving role for Bitcoin and altcoins in mind, on 3 November Commonwealth Bank of Australia (ASX: CBA) became the first Aussie bank to offer its customers the ability to buy, sell and hold cryptocurrencies via CommBank's app.
Customers can trade up to 10 selected cryptos including, of course, Bitcoin.
