- F2Pool co-founder Wang Chun said a condo he bought in Thailand for 2,900 BTC in 2015 was recently sold for just 7 BTC.
- The trade has drawn fresh attention to Bitcoin’s long-term opportunity cost when early holders used it for real-world purchases.
One of crypto’s oldest lessons has resurfaced in unusually concrete form. This time, it came with a condo in Thailand.
F2Pool co-founder Wang Chun said he has sold a property in North Pattaya for 7 BTC, years after originally buying it for 2,900 BTC in 2015. He described the apartment as the first home he had ever owned, adding in a post that,
“In 2015, I purchased this Naklua condo in North Pattaya for 2900 BTC. It was the first home I had ever owned… Yesterday, I sold this condo for 7 BTC.”
A real estate deal that became a Bitcoin time capsule
At the time of purchase, Bitcoin was trading at roughly $270, which valued the condo deal at around $785,000. Measured against today’s Bitcoin price near $66,764, those original 2,900 BTC would now be worth dramatically more, while the 7 BTC sale price represents only a small fraction of that earlier coin amount.
Even on a simple fiat comparison, the numbers are striking. Based on current pricing, 7 BTC comes to roughly $470,000, implying a drop of about 40% from the original dollar value attached to the 2015 purchase. But the sharper point, really, is not the condo market. It is the Bitcoin market.
Bitcoin’s opportunity-cost problem shows up again
Crypto has always had these stories. Early holders spent Bitcoin on pizza, laptops, travel, rent, sometimes homes, long before the asset’s later price expansions turned ordinary purchases into cautionary folklore. Wang’s condo sale belongs in that same category, though on a larger scale and with a more personal tone.
The episode also lands at a time when Bitcoin is increasingly treated less as spending money and more as treasury collateral, reserve capital or long-term store of value. That shift changes how old purchases are viewed. What once looked like practical use now reads, at least in hindsight, like a very expensive disposal of scarce digital property.
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