“Condition: Like New” – Buy an Abandoned Prison with Bitcoin

A private prison is up for sale in Colorado, and can be yours for only 88 bitcoins, according to a report from ZeroHedge.

A quick look at the entry on Craigslist in Denver shows that the facility retails for $1,200,000, but “We’re willing to be CREATIVE to sell or lease this property!”

The facility, situated in the small town of Brush, was built in the mid-1980s, and said goodbye to its last inmates in 2010. The property has been unoccupied since.

There are many attractive features for a potential buyer – walls, ceilings and floors constructed with 8 inches of concrete (“This facility is designed to withstand an F5 tornado”), a perimeter fence topped with razor wire, and even a gym. And at only an hour northeast of Denver International Airport, it is in a prime location too.

The facility left 85 people unemployed when it closed down. It was bought in 2014 for $150,000 by local resident Nicholas Erker, vice president of a grain company.

He had plans to use it as a marijuana growing facility, according to the Brush News Tribune, and was waiting for the result of a town vote, but apparently that came to nothing as it is now being sold by a company called Repurposed Materials, which is based in the state capital of Denver.

The first real estate transaction using Bitcoin occurred in September, by a family purchasing a custom-built home in Texas, according to CoinTelegraph. The transaction took place through BitPay, and the seller then converted the Bitcoin into USD.

In the UK, two luxury homes were sold with Bitcoin in December, according to The Telegraph. One buyer, described in the article as a Bitcoin miner, intends to go one step further and take rent payments from tenants in his £350,000 property in Bitcoin too.