- Two-Bedroom House Sold for 3 Bitcoin Without Conversions
- At the time of writing the news, one BTC was worth around Rs 26.85 lakh
- European nation legalizes real estate deals in virtual currency
A two-bedroom house in Portugal’s Braga district has been sold for 3 bitcoins without converting to euros. The buyer has purchased this asset by paying directly in BTC. At the time of writing the news, one BTC was worth around Rs 26.85 lakh. The deal is Portugal’s first real estate sale financed entirely in a cryptocurrency. Apart from this, let us tell you that recently a decision was taken by the European nation to legalize real estate deals with virtual currency.
A Portuguese real estate agency Zome completed the sale with the help of law firm Antas da Cunha Ecija and partners from Switzerland-based Crypto Vallery.
Zome added his Facebook Post “The first public work for the sale of a cryptocurrency house in Europe was carried out today with the participation of Zom. This deed is a historic milestone, the transfer of a digital asset to a physical asset (a house) Euro without any conversion.”
of bitcoin.com Report According to reports, the president of the Portuguese Chamber of Notaries was also kept in the loop.
The phenomenon was also first witnessed by Carlos Santos, chief technology officer of Zome, Nuno da Silva Vieira, partner at legal intelligence firm Antas da Cunha ECIJA, and Paulo Cardoso do Amaral, professor at the Catholic University of Lisbon.
Bitcoin.com has Report According to the Bank of Spain, Portugal’s share in the volume of crypto transactions in the Eurozone exceeds the weight of its Gross Domestic Product (GDP) in the single currency region’s economy.
The European country has been taking steps in support of cryptocurrencies for some time.
Credit: ndtv.in /