Montenegro: 3 apartments bought for 420 BTC

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Three luxury apartments in Budva, Montenegro, were sold for 420 BTC, or $ 3.2 million. Notary Office, a Notary Office and the Astra Montenegro Investment Association (AMIA), an investment firm, made possible the payment in crypto-currencies of these real estate acquisitions.

An acquisition of real estate at 420 BTC

AMIA has promoted the use of cryptocurrencies in Budva, facilitating the acceptance of Bitcoin (BTC) as a method of payment. In addition, three luxury apartments located at the Dukley Garden Residence were successfully sold for a total of 420 BTC, or $ 3.2 million.

The sale of Duckley Hotel, Dukley Beach Lounge and Dukley Marina would be the biggest real estate sale using cryptocurrency as payment mode in Europe. AMIA was charged with facilitating the transaction.

“We have a completely new clientele, people who did not intend to buy real estate. Young people decided to invest their bitcoins to become owners of luxury real estate in Budva. Our society, unlike many who are skeptical about the cryptocurrency industry, is the first in the region to sell real estate through cryptocurrencies, “said AMIA, adding:

“We have acquired a whole new clientele around the world, especially in Europe, even though there is only a limited number of real estate that can be purchased with the BTC. That’s why we have customers all over the world. In addition, we have facilitated the entire purchase process, which is another benefit. ” 

A proven success of crypto-currencies in the real estate sector

One of the buyers is a 25-year-old Frenchman. He was initiated to purchase in digital currency by the notary office Notary Office.

“The sale was quickly concluded,” he said. “All the legal procedures were speeded up and the funds were immediately converted into euros, once the official documents were signed and the transfers made. “

Real estate purchases in virtual currencies are becoming commonplace. The trend began in early 2017 and grew when the market experienced impressive price increases in December 2017. Miami, Ireland , Amsterdam, Dubai , Manhattan and other regions around the world experienced consequent on real estate sales. With the sale of the three luxury cryptocurrency apartments, Montenegro seems to be moving towards a digital economy.

What do you think about the use of cryptocurrencies in the real estate sector? Tell us your opinion in the comments section below.

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