Risto Pietilä, an owner of a Bitcoin fortune worth approx. €2 million euros, bought an old manor in Northern Estonia in order to turn it into a major Bitcoin center.
Malla, a more than 600-year-old manor, was purchased by the Finnish investor early this year for money earned with Bitcoin. According to Pietilä, he wanted to spend his bitcoins on something material, because then he would be still able to keep his purchase even if Bitcoin eventually lost its value completely.
The idea of creating a global Bitcoin transaction center is nothing new, but the case in point seems to be different: Malla is far removed from business and commerce centers. Pietilä’s optimism is enforced by his belief that the project will attract Bitcoin investors and enthusiasts from all over the world. The Finnish entrepreneur doesn’t consider it an easy task, however. In Pietilä’s estimation, the reconstruction of the estate will cost about a million dollars, and the millionaire finds it more than just reasonable to wait for Bitcoin value to rise again. This would provide Mr. Pietilä with sufficient funds to implement his Bitcoin center idea.
The good news is that the entrepreneur has already found at least one like-minded person. David Latapie, one of the creators of virtual currency Monero, is expected to move into Malla estate for residence next month. Pietilä hopes other crypto-currency activists will join him as well.