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Luxury Penthouse in Netherlands to be Sold for Millions in Bitcoins Only

For the first time in the Netherlands, the purchase of a house will be paid entirely in Bitcoins (BTC).

A buyer has recently signed up for a luxurious penthouse in Veghel at the asking price of 21 BTC, which is worth around €1 million at time of writing. The brokerage stated that the sale will be finalized within a few days.

Bart Greijmans of the brokerage said that, while they are figuring out how to arrange the transaction, he is confident that it would go smoothly in the end.

Greijmans noted that preparations must be made in order to sell the property. He said that a notary is often used when transferring in euros; however, this transaction is carried out entirely in bitcoins. Lawyers will need to be involved, ensuring that everything is properly written down for both the seller and the buyer. He commented on the novelty of this situation and that he is excited to experience this for the first time.

As the price of BTC can fluctuate wildly, people are still waiting for the right time to purchase the house. The brokerage costs will still be settled in euros for now.

Real estate agent René van de Laar said that, previously, houses were only partially bought with bitcoins. For example, they were used as a down payment.

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