McEvoy to trade $1.1m GC home for bitcoin
SWIMMER Cam McEvoy is offering to accept bitcoin for his $1.1m Gold Coast pad in a bid to reinvest his money into cryptocurrency.
The Olympian, who listed his luxury Surfers Paradise townhome on the Isle of Capri this week, said he hoped to take advantage of the seller’s market on the Gold Coast and appeal to a broader range of buyers by accepting bitcoin or ethereum as payment.
McEvoy, 27, purchased the four-bedroom, three-bathroom property for $1.1m after returning from the Rio Olympics in 2016, at the height of his swimming stardom. The physics and mathematics student began researching and trading in the cryptocurrency market in late 2017.
“I wanted to do something that was considered a little bit unique in terms of offering for the house to be paid for in crypto, or in bitcoin more specifically,” McEvoy said.
“I see that on another angle as a good investment as well, converting my initial investment
with a property into something like bitcoin.
“It’s got a lot of similarities to the evolutions we saw with the internet, moving finance online and the general movement towards decentralisation as well. I have no doubt that eventually over time it’s going to be a very fundamental backbone to our society.”
McEvoy said while he had concerns about the volatility of the cryptocurrency market in the short-term, he was confident bitcoin’s value would continue to rise.
“I have a high-risk tolerance in this case,” he said.
McEvoy will compete in the Tokyo Olympic swimming trials in Adelaide next
month, where he hopes to qualify in the competitive 100m freestyle event.
“I’m still not 100 per cent sure what my direction will be post Tokyo Games,” he said.
McEvoy is selling the townhouse, at 1/40 Via Roma, Isle of Capri, through Lucent Property’s Josh Longhitano.