People keep saying Bitcoin is a fad. People keep talking about the Bitcoin bubble, and yet, the digital currency keeps plugging along. Now, right after another round of doom and gloom from the establishment financial experts, a home has been purchased by bitcoin for the first time ever.
A day after Bridgewater Associates Founder Ray Dalio claimed that bitcoin was “definitely in a bubble” partly because he said the digital currency was too difficult to spend, CoinTelegraph is reporting that the first-ever bitcoin-only real-estate transaction has been completed in Texas.
The transaction “illustrates crypto’s potential to transform how financial transactions are conducted,” according to Futurism.com.
The Texas-based real estate brokerage firm Kuper Sotheby’s International Realty, the firm that reperesented the buyer, declined to disclose the number of bitcoins that were exchanged for the home. Futurism.com noted the ease with which the transaction was conducted. “The buyer simply transferred the bitcoin to the seller, who then converted it into US dollars.”