Someone Bought A House In Texas Using Bitcoin

As a major proof that cryptocurrency is catching on and affecting real-world commerce, someone in Austin, Texas just bought a house using Bitcoin. The transaction details are still scarce, but according to the real-estate firm that handled the sale, the process could not have been smoother. If cryptocurrency can be used to purchase a custom-built luxury home, it can be used to be anything.

The firm that handled the sale is Kuper Sotheby’s International Realty, a real-estate company based in Austin, Texas. In the press release featuring the sale, the company boasted about being the first brokerage in the country to close a sale of a house using Bitcoin. Based on the firm’s description of the property, it seems to be a fairly luxurious piece of architecture, as well.

“Finalized mid-summer and purchased for an undisclosed sum, the newly built custom home boasts grand entertaining areas, a kitchen fit for a chef, lavish master suite and a finely landscaped backyard. Located in the central part of Austin, Texas, the property is just a few miles away from a vibrant and culturally-rich Downtown – widely known as the Live Music Capital of the World and a growing hot spot for technology companies,” the press release reads.

In the press release, the broker who represented the buyer, Sheryl Lowe also commented on how smoothly the transaction went. Converting Bitcoin to US dollars apparently only took a few minutes.

"In all of my 33 years of closing transactions, I honestly couldn't have expected something so unique to go so smoothly. In a matter of 10 minutes, the Bitcoin was changed to US Dollars and the deal was done!" Lowe said.

As Futurism points out, this transaction should go a long way towards convincing the general public and perhaps even some skeptics in the financial community that cryptocurrency is not a scam. Rather, it can become a major force in the retail industry down the road.