Australian property for sale for 100 Bitcoins

The value of Bitcoin has increased dramatically recently. Photo / 123RF

A slice of Far North paradise can now be purchased for Bitcoin, a digital currency that has soared in value over the past 12 months.

In a move rarely seen in Australian real estate, the owner of the majestic 32ha property known as "Wooroonooran Falls" has made his home available for 100 Bitcoin (BTC).

At the foot of Mt Bellenden Ker, the property has an asking price of A$1.2 million ($1.3m).

"After extensive research the seller has decided that the digital currency offers significant chance of appreciation over the coming weeks, and buyers at the current price would get a discount on the asking price by paying in Bitcoin," said selling agent Cheyenne Morrison, of LJ Hooker Cairns South.

The value of Bitcoin has increased dramatically recently, and at the time of going to press was more than A$12,000 ($13,272) for 1BTC.

Morrison said listing the property through Bitcoin opened up a whole new market of potential buyers.

"I believe this will be the first property advertised for sale via Bitcoin in Cairns," the agent said.

"The seller and I are both big advocates of Bitcoin, and have personally invested in the crypto currency.

Wooroonooran Falls can be purchased using bitcoin. Photo / Supplied

"It was my idea to offer the property for 100BTC because of the recent swath of publicity about Bitcoin, and the seller was enthusiastic about the idea.

"Up until six months ago the value of Bitcoin was just bouncing along, and now it has gone through the roof.

"There's a lot of people in Australia who have Bitcoin, so you just never know who might come along."

Morrison said the property, which includes its own waterfall and a Queenslander-style house, had attracted a foreign buyer but the deal fell through.

Owner Rod Overell previously told the Cairns Post that he felt like a "custodian" of the property.

"I want to let it go to someone else who will be able to appreciate it," he said. "It's just a wonderful place — all you can hear in the afternoon is the chorus of bird life."