First official property crypto sale worth 0.33 BTC registered in France
Cryptocurrency is increasingly involved in real estate transactions
The French platform Bitcoinimmo announced the first officially conducted real estate transaction in France paid in Bitcoin.
With Bitcoinimmo's mediation, a resident of the city of Gap sold two parking spaces for 0.33 BTC. A unique aspect of the transaction was that the property owner insisted on payment in cryptocurrency to protect her savings from inflation.
The final agreement was reached via video conference, and the transaction itself took around two minutes.
Bitcoinimmo is owned by entrepreneurs Renaud Esco and Nicolas Fourchet, who highlighted the advantages of blockchain technology, including the transparency of transactions, as all records are immutable, and the speed of fund transfers.
In reality, cryptocurrency is increasingly involved in real estate transactions
According to the entrepreneurs, the notarization process for this transaction was nearly identical to a typical real estate purchase agreement and holds full legal validity.
Bitcoinimmo claims to be the first to facilitate real estate sales in cryptocurrency in France. However, digital assets are increasingly being used to purchase property in Europe, particularly by foreign buyers. Platforms like Bitcoinimmo assist buyers in converting their national currencies into crypto, which can then be exchanged for euros or other fiat currencies for sellers. The responsibility for fulfilling tax obligations rests with the transaction participants.
Renowned financial analyst Tom Lee has shared his optimistic forecast for Bitcoin’s price in 2025. Highlighting a best-case scenario, Lee stated that Bitcoin could potentially reach $250,000 within the next 12 months, driven by the current price cycle and strategic developments in the U.S.
