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Former Banker Dismisses His Profession, Purchases Land in Nicaragua Using Bitcoin

By: PanAm Post Staff - Jan 2, 2014, 12:10 pm

Gregory Simon, a former 12-year-career banker, has purchased a 0.3-acre lot of land using bitcoin in San Juan del Sur, Nicaragua. Simon purchased the land through Nica Life Realty and plans to build a home there with his girlfriend.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” Simon said.

“The current banking system is beyond immoral. It takes advantage of the most helpless and poor people on earth,” he added looking back upon his career.

Bitcoin, a peer-to-peer virtual currency, has grown in influence reaching an all-time high of US$1,242 in November, 2013. Currently, it is worth around US$773 per coin.

Source: CoinDesk.