X

1497 Views

Three Luxury Properties in Montenegro Were Sold For 420 Bitcoin (BTC)

Spread the love
  • 2
    Shares

Montenegro is promoting the use of cryptocurrency in any possible way. Three luxury apartments based in Budva were sold for 420 BTC, worth $ 3.2 millions, reported the Astra Montenegro Investment Association (AMIA).

AMIA is known as the promoter of crypto adoption. Following the association’s convictions, Dukley Hotel, Beach Lounge, and Marina have begun to accept cryptocurrencies. The apartments are situated on the coast of the Adriatic Sea, a highly developed tourist region. According to Nila Emilfarba, executive of AMIA, the apartments were sold for 420 BTC.

According to Emilfarba, this was the largest sale of this type in Montenegro, encouraging more merchants to adopt cryptocurrencies. In addition to sale worth millions, AMIA has been able to positively influence the Beach Lounge restaurant, the Dukley hotel, and the Dukley Marina to adopt BTC as payments.

Our company, unlike many who have doubt in cryptocurrency, is the first in the region that started selling real estate for the cryptocurrencies,” stated AMIA, adding that “We acquired brand new clientele — In the world, and especially in Europe, there is only a limited number of real estate that can be bought with BTC.”

One of the buyers …

One of the customers was a 25-year-old citizen of France who was delighted by the speed with which the financial transaction took place. The process was monitored by the Budva Notary, Pantov’s Law Office, and attorneys from Prelević’s Law. Immediately after the documents were signed and Bitcoins were transferred to the official account, the funds were converted into euros.

Beginning with 2017, real estate investments using crypto assets has become a trend, especially when the price of virtual coins has reached a memorable record in December. However, the big investments have taken place in Miami, Dubai, Amsterdam and other big cities. If we consider the sale of apartments in Budva, it looks like Montenegro wants to become a “crypto-friendly nation“.

1 Shares

You may be interested

Spain May Soon Require Investors to Reveal Their Crypto Holdings
News
173 views
News
173 views

Spain May Soon Require Investors to Reveal Their Crypto Holdings

Solomon Magawi - October 23, 2018

As Bloomberg reported recently, the Spanish government proposed a controversial bill that would require cryptocurrency investors to disclose their holdings.…

The US Government Seized Over $700,000 Worth of Cryptos from a Dark Web Drug Dealer
News
219 views
News
219 views

The US Government Seized Over $700,000 Worth of Cryptos from a Dark Web Drug Dealer

Joshua Tayo - October 23, 2018

Oxymonster, a dark web drug dealer who specialize in the sales of Grade drugs has been sentenced to 20-year in…

Cold Wallet vs Hot Wallet: What’s The Difference?
Learn
1075 views
Learn
1075 views

Cold Wallet vs Hot Wallet: What’s The Difference?

Anca Faget - October 23, 2018

Wallets are software programs and devices which store the private and public keys of Bitcoins and other cryptocurrencies. There are…