The current world record for the largest Bitcoin transaction sits neatly at R10 million – which is a damn good showing for a currency that should really still be in its infancy.

Now, a casino-owner and property developer, Jack Sommer, hopes to smash that record by some margin. He’s selling his 25,000-square foot Las Vegas mansion for R78,5 million, and he’s willing to accept the whole sum in good-ol’ digital Bitcoin.

He’s aware of the risks, he says, but he’s still going ahead with his plan:

It’s very volatile, and of course… there is a lot of speculation. But there seems to be a growing amount of trade and commerce involving Bitcoin as well. So it gives me the confidence that we can accept it as a viable currency.

Two of his kids have been buying into BitCoin since 2010, and they may have played a hand in convincing their old man to go digital.

My kids started picking them up at $5 and then they went to over $1,000 and they were making all this money.

It’s actually good that not that many people know about it, because that means there are many more people who are going to know about it

If BitCoin continues to grow by the same margins it did between 2010 and 2014, then Sommers may well be a lot more wealthy than even he could ever imagine.

[Source : The Verge]