Actor-turned-crypto entrepreneur Brock Pierce used bitcoin as collateral to purchase a $1.3 million mansion in Amsterdam. The real estate transaction represents the first-ever crypto-backed mortgage.
Swiss cryptocurrency startup Nexo facilitated the purchase. Nexo is a crypto wallet that lets you borrow up to $2 million in 45 different fiat currencies within 24 hours.
“He backed the entire loan for the house with bitcoin,” Nexo co-founder Antoni Trenchev told Fox Business. “This was our first-ever crypto-backed mortgage.”
Brock Pierce is a former child actor who starred on the hit 1992 film “The Mighty Ducks” (opposite Emilio Estevez).
Pierce has since become a crypto entrepreneur and venture capitalist who’s now the chairman of the Bitcoin Foundation. Amazingly, Pierce holds more than 95 percent of his net worth in cryptocurrencies.
Former child actor Brock Pierce is the chairman of the Bitcoin Foundation. (PR photo)
In November 2018, Pierce used $3 million in bitcoin as collateral to buy his lavish Amsterdam mansion.