Malta is always in the news when it comes to cryptocurrencies and innovative projects in the field of blockchain. In the latest news, the country is offering a huge palace that is centered in the heart of Valletta for sale.
Worth $3 million, the mansion can only be purchased via Bitcoin. The current price is 550 BTC – which is definitely a great way to buy a palace that has historical value. Centered in the heart of the capital of Malta, this 860-square meter historic building can be easily transformed into a hotel or even office space.
Right now, Valetta is undergoing a complete transformation, selling its abandoned mansions and palazzos in an attempt to convert them into high-end boutique hotels that would cater the nouveau niche.
What’s also interesting is the fact that this building comes with a 3 million EUR price tag – but can only be purchased in Bitcoin – which gives investors an opportunity to claim the title of making it the first cryptocurrency property purchase in the well-known “Blockchain Island” of Malta.
Maltese Mansion goes on sale for BTC in advance of Malta conference.https://t.co/8uzPtHTRfu
— John McAfee (@officialmcafee) September 4, 2018
The sale is also part of an initiative known as CryptoHomes.io. The initiative seeks to make more real estate listings available for sale via crypto. As of recently, this company has partnered with Cubits (a trusted and well-established multi-currency wallet).
One of the main guys behind CryptoHomes, Dennis Avorin, said that the move was a big step in proving that cryptocurrency has a future, adding:
“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”.
There are many other real estate companies in Malta which are also looking forward to the possibilities of buying property with cryptocurrency.
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