Bitcoin buyer snaps up Bali villa


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25/03/2014

A U.S. buyer has paid more than US$500,000 for a 3,000 sq ft villa in Bali in what is believed to be the largest reported Bitcoin real estate transaction ever concluded.

The sale of the fully furnished two-bedroom villa at the award-winning delMango Villa Estate in Seminyak (pictured) was finalised last month through the online bitcoin luxury marketplace BitPremier, according to media reports.

The anonymous buyer is reported to have paid more than 800 bitcoins for the property.

Other property currently listed for sale on the BitPremier website includes a luxury chalet in the French Alps, an apartment in Paris with views of the Eiffel Tower, land for development on the beach in Costa Rica and a private island in the South Pacific.

BitPremier is an online marketplace that connects bitcoin buyers and sellers. It facilitates communication between both parties who remain anonymous until the terms of the deal are settled. Funds are then held in escrow until the buyer confirms an item has been delivered. BitPremier then sends funds to the seller, with a five percent fee deducted from the proceeds.

 

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