How to setup $1m> real-estate transaction?

[drnick]

Hi all,

I'm looking into potentially selling a multi-unit building in a major US city for bitcoins. The transaction size would be over $2M U.S. dollars.

I realize there is probably only a small pool of buyers with that kind of bitcoin on hand, but I'm interested in the potential for making something like this work. One issue with buying bitcoins, seeing the value go up (relative to fiat), and then selling bitcoins in order to make a large transaction is that you first have to pay capital gains tax (or worse, short-term gains tax) on the profits of your currency exchange.

The question is: where would I list this, and how desirable would it be for bitcoin millionaires to diversify some of their assets into secure long-term cash flowing real-estate in a major US city without first having to convert their bitcoins to cash? Is it even feasible/legal?

Thanks for any input.

[Shallow]

I don't see why it would be illegal.