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Shanda Group, an IT company in China with an impressive real estate development business, has been accepting Bitcoin for on-sale properties in Zhangjiang Hi-Tech park in Shanghai. The 300 apartments sold out in just a few minutes, and that may or may not be attributed to the fact the developer is accepting Bitcoin.
Shanda Group locked the price per Bitcoin at 1,000 Yuan (CNY), with the ability to adjust the rate as they see fit at a time when the actual exchange rate was in the neighborhood of 1,200 Yuan.
Very interesting news. Read more about it here.
