Re: Buying a house with 100% Bitcoin is possible in Portugal
There have already been 13 purchases/sales of homes carried out with Bitcoin.
That is, there are more and more people trusting bitcoin and using it to buy high-value goods, such as a house (and houses in Portugal are at very inflated prices).
That is, there are more and more people trusting bitcoin and using it to buy high-value goods, such as a house (and houses in Portugal are at very inflated prices).
According to the Order of Notaries of Portugal, to date, 13 purchases have been made using crypto. But, according to one of the main real estate companies carrying out this type of process, it indicates that there are forecasts for a few more crypto sales by the end of the year.
These are promising numbers considering the service is more or less a year old, plus one could say most crypto holders may be reluctant to spend their BTC's on high value goods but perhaps these buyers are just too loaded to care
Interesting data from wikipedia says Portugal has 73.9% home-ownership rate which is pretty high. My guess is this probably played a part as home-ownership appears to be more on the norm side there indicating some locals may see it as an essential thereby making people more motivated to trigger the purchase button despite their inflated prices and bitcoin's long term potential.