Bitcoin Was Just Used to Pay for a New Home in Texas

It's the first bitcoin-only real estate transaction.

9. 19. 17 by Dom Galeon
Pixabay
Image by Pixabay

Texas-based real estate brokerage firm Kuper Sotheby’s International Realty has completed the first-ever sale of a real estate property using just bitcoin.

The world’s most popular cryptocurrency has long moved on from its shadowy past to become a legitimate currency used to purchase Starbucks coffeeXbox games, and now, a newly built custom home with grand entertaining areas, a master suite, and a chef-worthy kitchen.

The price of the home hasn’t been disclosed, but more important than that is the ease of the overall transaction. The buyer simply transferred the bitcoin to the seller, who then converted it into U.S. dollars.

“In all of my 33 years of closing transactions, I honestly couldn’t have expected something so unique to go so smoothly,” Kuper Sotheby’s Sheryl Lowe, the buyer’s agent, said in a press release. “In a matter of 10 minutes, the bitcoin was changed to U.S. dollars and the deal was done!”

Advertisement

This real estate transaction is further proof that bitcoin isn’t “a fraud,” as some have claimed. It’s also another example of the increasing acceptance of cryptocurrencies, which are poised to revolutionize a variety of industries beyond finance, from transportation to entertainment to politics.

Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.


As a Futurism reader, we invite you join the Singularity Global Community, our parent company’s forum to discuss futuristic science & technology with like-minded people from all over the world. It’s free to join, sign up now!

Share This Article

Keep up.
Subscribe to our daily newsletter to keep in touch with the subjects shaping our future.
I understand and agree that registration on or use of this site constitutes agreement to its User Agreement and Privacy Policy

Advertisement

Copyright ©, Singularity Education Group All Rights Reserved. See our User Agreement, Privacy Policy and Cookie Statement. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Futurism. Fonts by Typekit and Monotype.