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LA's real estate industry enters the age of bitcoin

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At the time of the January 2017 purchase, it cost 3,300 bitcoins to buy the home for $3.225 million. At its value a year later, 3,300 bitcoins equals around $34 million – which is likely a hard pill to swallow for both the buyer and the seller, who had the bitcoin immediately converted into cash, according to Mike Michalski of RE/MAX Estate Properties, who co-listed the property with Sachi Fujita.

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