Chun Wang (춘 왕), founder of bitcoin mining firm F2Pool, said he sold in 2026 a condo in Pattaya, Thailand, that he bought in 2015 for 2,900 bitcoin, drawing attention online.

On March 31 local time, blockchain media outlet The Crypto Basic reported that Wang disclosed the transaction on X, formerly Twitter, and looked back on the time when he first entered property investment.

He bought the condo for 2,900 bitcoin when bitcoin was about $224 in 2015. The value at the time was about $650,000, or about 980 million won.

The sale took place in 2026. Using a bitcoin price of about $67,500, the value of 7 bitcoin is calculated at about $470,000, or about 709 million won. The dollar loss may not look relatively large, but in bitcoin terms it means an asset bought for 2,900 bitcoin was sold for 7 bitcoin, a difference of 2,893 bitcoin.

Wang said he lived in the condo for about 2 years while holding it. He developed and launched a Zcash mining pool based there, and later moved via Bangkok and Seoul to Europe as the business expanded, the report said.

The case clearly shows the "opportunity cost" discussed in the crypto market. If he had held on to the 2,893 bitcoin used for the property purchase, its current value could have exceeded $190 million, or about 287 billion won.

In 2015, bitcoin was recovering after the collapse of Mt. Gox, and cases of property transactions using bitcoin were rare. In that sense, Wang's choice can be seen as showing his conviction in bitcoin and his willingness to test new uses for it.

Wang's case shows that bitcoin has been used as a means of actual transactions beyond being a simple investment asset. It also shows how much valuation can change over time depending on what asset bitcoin is put into. As crypto penetrates the real economy more, the transaction is likely to remain a symbolic case showing the tension between bitcoin's usability and holding strategies.

In 2015, I purchased this Naklua condo in North Pattaya, for 2900 BTC. It was the first home I had ever owned. Although I only lived here for about two years before moving on to Bangkok and Seoul, and later to Europe, my time in Pattaya gave me my first real experience of living… https://t.co/zWnSrg21oK pic.twitter.com/RqYGQwSBip