A common misconception surrounding cryptocurrency is that it cannot be used in real-life transactions for necessary items. While several instances and companies have proved this idea wrong, not everyone seemed to be convinced. However, in a recent purchase using Cardano, luxury homes were sold to ADA holders.
Prometheus International, a leading real estate firm dealing in high-end properties, recently completed this transaction in Portugal’s Madeira. The total worth of the two houses sold is roughly $4.7 million.
Madeira is one of the most scenic groups of islands in Portugal. Every year, millions of tourists flock to these islands to experience the greenery and exotic appeal. It is also a popular retirement spot for millionaires and billionaires.
Priyesh Patel is the CEO of Prometheus International. In his words, adopting cryptocurrency appeals to a wider customer base. As many people have earned a fortune in crypto, many are also willing to spend it lavishly. For these crypto millionaires, buying real estate using crypto is a very lucrative option. The recent deal is estimated to be the biggest ever crypto transaction in Portugal. Crypto experts, especially Cardano enthusiasts, are excited at the news of such a major crypto transaction.
Buying property using cryptocurrency marks a definitive moment for the crypto sphere. It would also attract more conventional investors to try their hands in cryptocurrency.