Who says bitcoin isn’t real money? Certainly not the early-adopter who purchased a luxury apartment in Berlin, according to the .com service.
The individual, a newcomer to the German capital city, reportedly called the purchase “the perfect investment for where I am in my life now,” including that, “Having an apartment I can call my own, especially in Berlin, is a dream come true.”
The total cost? Over 500,000 Euro for the 150-square-meter property, which features two balconies and large, open spaces.
The transaction, as explained by All4BTC:
By using Bitcoin directly, this transaction took only 10 minutes for the real estate agent to receive their money. Martin from All4Btc.com worked closely with both the customer and the agent to create a fluid and secure transaction, as well as assuring that all taxes and fees were accounted for. Personal contact and support established a clear understanding for the agent exactly how they receive the money immediately by using Bitcoin.
All-told, the process took three weeks from the time the buyer contacted All4BTC to getting access to the apartment.
And it’s not the first story of it’s kind. Most recently, a Balinese villa sold for over 800 BTC (approximately $500,000 USD). Other properties have also been bought using the digital currency.
But then there’s the question of value. Many in the community are hesitant to spend their bitcoins (particularly for larger transactions) in fear that their digital currency may be worth magnitudes more in several years.
Just ask the guy who bought pizza for 10,000 bitcoins in 2010 (that’s over $5.6 million USD) at current exchange rates!
My question to you: would you use bitcoin for large purchases like real estate?