On Thursday, 5 May, an unnamed owner of an apartment in the city of Braga (Portugal) sold it for cryptocurrency without converting to fiat. The deal was reported by Zome, which accompanied the transaction.
\”This deal marks a watershed moment in turning a digital asset into a physical one — a home — without any conversion into euros,\” the statement said.
According to Idealista, the house cost the buyer 3 BTC ($108,335 at the time of writing). The outlet noted that in April owners and real estate agents were allowed to transact using digital assets. Previously, buyers had to convert them into fiat.
In February 2022, a Dutch family that had invested all their funds in Bitcoin explained their move to Portugal, citing the authorities’ favourable attitude toward cryptocurrencies.
However, according to a survey by the country’s National Financial Supervisory Council, among respondents cryptocurrencies were the least popular financial instruments.
In May 2021, the Arte Surfside boutique condo opened the sale of apartments in Miami for Bitcoin and Ethereum.
In spring 2022, one of Dubai’s largest developers of luxury real estate — DAMAC Properties — said that it would allow clients to use BTC and ETH as a means of payment.
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