Apartment T3 was sold in Braga for 3 bitcoins. For the first time, a house was bought through an exchange for cryptocurrencies and without any conversion into euros.
ZOME says that history was written in the Portuguese real estate market after the sale of this apartment.
3 Bitcoin currently corresponds to approximately 100 thousand euros
The first real estate sale in cryptocurrencies in Europe was carried out with the participation of ZOME, in collaboration with the law firm Antas da Cunha ECIJA, Bastonário dos notaries in Portugal and other Crypto Valey partners in Switzerland.
Carlos Santos (Zome Chief Technology Officer), Nuno da Silva Vieira (Antas da Cunha ECIJA partner responsible for legal information), Jorge Silva (Bastonary of Notaries in Portugal) and Paulo Cardoso do Amaral (Professor at the Catholic University of Lisbon) , firsthand witness to this unique events!
The whole process was strict, with tax frameworks and compliance with the rules for the prevention of money laundering and terrorist financing.
This act represents a historic step, the transfer of a digital asset into a physical asset at home without any conversion into euros.
The use of virtual currencies continues to be highly controversial and their adoption experiences constant successes and failures. Satoshi Nakamoto, the creator of this digital currency, limited the Bitcoin currency to just 21 million units, and by some estimates, this amount is slightly lower, 20,999,817.31 BTC. Thus, after this step, there are only about 2 million bitcoins left to be mined, and 90% of all available bitcoins are already in circulation.
Bitcoin is a virtual currency based on a peer-to-peer (P2P) system. P2P is a system that does not provide for a centralized authority to control the currency or transactions, as for other currencies (for example, the euro is controlled by the European Central Bank).