Administrator of mining pool discusses unprofitable real estate transaction involving Bitcoin., 2026/03/31 14:37:08

The administrator of the F2Pool mining pool, Wang Chun, shared details about his recent sale of an apartment in Pattaya for just seven bitcoins. He had originally purchased the property in 2015 for 2900 BTC, at a time when the first cryptocurrency was valued at $224.

At the time of acquisition, the real estate was appraised at approximately $650,000. By 2026, with Bitcoin priced around $67,500, the proceeds from the apartment sale would amount to $470,000. In terms of bitcoins, Wang Chun incurred a loss of 2893 BTC, which would currently be worth $190 million.

The pool administrator mentioned that throughout his ownership of the apartment, he only lived there for about two years. He resided in the unit while he was involved in the development and launch of the Zcash mining pool. After some time, the developer relocated to Bangkok, then to Seoul, and later to Europe as his operations expanded.

Investment firm Cardone Capital has begun offering products that enable simultaneous investments in real estate and Bitcoin. Recently, the American mortgage company Fannie Mae announced its readiness to utilize digital assets for housing transactions. Fannie Mae aims to implement a mortgage model that allows borrowers to use bitcoins and USDC stablecoins as collateral.

A few months ago, Wang Chun recounted another story about a hacker to whom he personally transferred 500 bitcoins. The hacker chose not to withdraw the entire amount, leaving Wang with 10 bitcoins for his “bread and butter.”