Bitcoin can get you a more than four centuries old historic building in the scenic Malta city 22373
News
Madhurima Roy
Sep 5, 2018 at 10:50 AM

The breakthrough of Bitcoin (BTC) in real estate is no longer something new to look forward to. But this mansion in Malta is grabbing people’s attention as it is up for sale and can be bought only with Bitcoin.

Thrilled at the prospect, even the Bitcoin enthusiast, John McAfee posted the news on Twitter, stating: "Maltese Mansion goes on sale for BTC in advance of Malta conference."

The historic building up for sale in Bitcoin

With the mansion on sale in the digital currency, people are eyeing the property and its sale in Bitcoin. Long before earning its reputation in blockchain and cryptocurrency, Malta earned reputation for holding historic buildings and fortresses. The sale of the 860sqm historic building in Valletta, the capital of Malta once sold, can be converted into hotel or office.

The property is currently owned by Ian A Fitzpatrick. He said: “I believe that there are a number of affluent individuals in this new business community viewing Malta as the most attractive place for investment.”

“The palazzo on sale, which has more than four centuries of history, can be developed into a boutique hotel or even into a cool housing project for employees.

“Investing in real estate in Valletta is certainly a smart step for anyone looking to establish himself on Blockchain Island.”

CryptoHomes responsible for the unique crypto initiative in real estate

Purchasing property with cryptocurrencies is a venture of a company called CryptoHomes. The real estate company allows the buying and selling of properties in Bitcoin and other cryptos. An initiator of the crypto-real estate company, Dennis Avorin stated that the unique initiative is a way to establish the fact that digital currencies are “here to stay”.

Avorin said: “Crypto is here to stay and we want to showcase that cryptocurrencies are not only commodities for speculators but also a means to purchase solid assets.”

“Purchasing real estate with crypto is like purchasing real estate with fiat – the same due diligence and rules apply.

“We simply want to promote the use of crypto as a vehicle for solid investments and Malta is a great start with the incredibly strong real estate market that we have seen in the past few years.

“With the launch of Blockchain Island, we are certain that this trend will strengthen even further.”

 

SEE ALSO: Former Deutsche Bank MD welcomes Yasuo Matsuda aboard on his cryptocurrency startup

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Image via Shutterstock

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