It seems that Malta is continuing its way in establishing itself as the ‘Blockchain Island’.
We have already discussed that the Maltese parliament has approved several laws that establish a regulatory framework for blockchain technology.
Although the price of cryptos is still being beaten down, a breakthrough deal seems to be in its final stages. A huge palazzo in the heart of Valletta, which is more than four centuries old, is being sold for 550 BTC (over $3 million). This mansion can only be purchased in Bitcoin giving its investor the opportunity to claim the title of making the first cryptocurrency property purchase on the Island and in Europe.
The property market in Malta is booming and nowadays there are a number of high net worth individuals who are looking at Malta as a place to invest their crypto wealth. This property purchase could be the first of many transactions which are moving away from the traditional Fiat currencies.