House Sold In Portugal For 3 Bitcoin In Countrys First-Ever Direct Transaction

An apartment in Braga, Portugal was sold for 3 BTC on Thursday in the first-ever real estate sale directly and entirely made in bitcoin, local news outlet Idealista reported.

The feat was possible thanks to new rules that became effective last month setting the directives as to how owners and real estate agents could sell properties for cryptocurrency directly. Before the rules, someone buying a house with bitcoin in Portugal had to first convert it to euros at the time of purchase in order to do the transaction and receive the house deed.

This deed represents a historic milestone, the transfer of a digital asset to a physical asset a house without any conversions to euros, said real estate company Zome, according to the report, which participated in the sale in conjunction with a group of lawyers and other partners.

The sale of real estate for bitcoin has recently gathered popularity across different parts of the world.

Source: Bitcoin Magazine