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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Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
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‘’VR and crypto go from bad to worse. AI fails to live up to the hype. 3D printing rises from the ashes. Smart cameras become a hot category.’’His assessment seems to be accurate but can the crypto market prove to be the odd one out? This can be so since many industries are really committed to the crypto sector. Companies such as Fidelity, ICE, and Nasdaq have funded at least five projects in the crypto space over the past year. Venture capitalist Jim Breyer even said:
“So many of the very best computer scientists and deep learning Ph.D. students and postdocs are working on blockchain because they have so much fundamental interest in what blockchain can mean. You don’t want to bet against the best and brightest in the world.’’
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"Bitcoin created the ability to send money around the globe cheaply and easily without having to trust a third party," Krug was confident.He also went on to discuss several revolutions in the past, from the information revolution triggered by printing press up to the telegram, telephone, radio, television and finally, the Internet. When asked about finance, Krug believes that the industry has made leaps of progress such as increases in execution speeds, online user interfaces, brokers etc. However, he stated that a financial revolution powered by the blockchain could advance us into a next era where money, value and finance will all be coordinated thanks to crypto.
"This infrastructure will be borderless, cheap, quick, and, most importantly, will let people trade on things they’ve never been able to exchange before, and if markets for those don’t exist yet, it’ll let them create it," Krug concluded.
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