A Manhattan millennial is doubling down on cratering crypto by hawking his nearly $2 million Columbus Circle condo for Bitcoin or Ethereum instead of cash.
“I know the market’s crashing, but I believe in cryptocurrency,” said Ronen Segev, who is peddling his swanky pad — a two-bedroom, seventh-floor condo at 340 West 57th Street — for $1.8 million.
Segev, who sells pre-owned Steinways through his company, Park Avenue Pianos, bought the apartment for $1,025,000 out of foreclosure during the financial crisis of 2009, then sunk half a million into renovating it.
But over the past 18 months, his portfolio has been pounded by plunging prices for the digital ducats. Segev’s retirement investment in crypto-linked security Grayscale Bitcoin Trust Corp took a high six-figure hit after he bet big on the fund in late 2020.
“The losses there are almost a million dollars,” he said. “So now my goal is to double down on that loss.”
(Cryptocurrency has dropped more than 50 percent of its value this year and about 70 percent since November.)
If he gets someone to pay crypto for his crib, Segev, 42, plans to put the proceeds into a short-term fund for his immediate needs.
“I believe now is as good a time as ever to get into Bitcoin,” he said. “I’m bullish long-term.”
He said he bases his confidence on there being “a basic human need” for crypto.
“I buy pianos in China and they go through so many hoops to convert yuan into dollars. It’s the same with Europe. It makes sense for everybody to be part of a universal currency.”
“The Ethereum network I see as similar to the…
