As cryptocurrency adoption gains momentum, the real estate sector is making considerable strides into incorporating digital currencies into the industry. In the recent past, New York and Dubai have accepted digital currencies during the purchase of an apartment. In some cases, virtual currencies are marked as the only acceptable mode of payment. In that spirit, this week saw 3 luxury apartments in Montenegro sold for 420 BTC.
Although this is the single largest sale involving digital currencies in the country, Montenegro has always been warm to virtual currencies. The sale was witnessed by the notary office and Astra Montenegro Investment Association (AMIA), the investment firm which sold the apartments.
In terms of fiat currency, the luxury apartments which are located close at the coast of Adriatic sea, are valued at 3.2 million U.S dollars.
According to AMIA, the real estate firm,
“We got a brand-new clientele, people who did not intend to buy real estate, they did it. Among the buyers are young people who decided to invest their battles by becoming the owners of the luxury real estate in Budva. In the world, and especially in Europe, there is a limited number of real estate that can be bought by bitches [bitcoin], so that’s why we got a clientele from around the world. We also enabled the wholesale process to be done in a quick and efficient way, which is another advantage”
Apart from the AMIA accepting digital currencies, they are also the ones who advised Dukley hotel, Dukley Beach Lounge restaurant, and Dukley Marini to accept digital currencies as payment for services.
Not surprising, one of the owners of the three luxury apartments in Montenegro sold for 420 BTC is only 25 years old.
The buyers, after settling the payment, noted that “Just what was impossible before, this is now possible thanks to the battles bitcoin, and the process of transferring money is completed in a few minutes”
Do you think the real estate industry is the next industry to massively accept cryptocurrency payments?
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