Mister Piso, a real estate company based in Barcelona, sold first property for Bitcoin. The company hopes that increased use of cryptocurrencies could accelerate sales and revitalize the real estate sector.
Basic advantage of cryptocurrencies is circumvention of middlemen such as banks and other regulators. They also offer themselves in the real estate sector as a simplistic means of payment: Both buyers and sellers can trade directly with each other without the influence of banks and the additional payment claims they collect.
Home sweet home for 40 Bitcoin
Apartment in the province of Tarragona in southern Catalonia was sold for 40 Bitcoin. At the current price of 9,711.95 euros (as of 19 January), the price would therefore be 388,478 euros. Mr. Piso is aware of the risk he takes by accepting crypto payments. The price of a property can fluctuate significantly in a short time. It should be remembered, however, that in the past year just in Bitcoin an incredible increase in value of 1,500% has taken place.
Gerard Platero, Managing Director of the Tarragona subsidiary explained:
“It’s much cleaner transaction and you do not have to have instant cash available, you can have this Bitcoin wallet and have something that is not tangible. If I see an apartment and I like it, instead of having to pay and sign and go to a notary, I can do the transaction very quickly at the moment, according to the value of Bitcoin, and all parties are happy. “
According to regional media Mister Piso is already offering a second property for Bitcoin. Despite all the crypto-euphoria at the real estate company, the payment with Bitcoin is not yet mentioned on the otherwise very informative website.
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