. 2 min read
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Venezuela’s most expensive house has been put up for sale – and its vendor is willing to accept payment in crypto. Tokens are widely accepted as a form of payment throughout the Latin American nation, but the sale of the $20 million property would be a major landmark for crypto adoption in the country.
The nation’s government – which is thought to have considerable bitcoin (BTC) and ethereum (ETH) reserves – has pushed the idea of a crypto-powered economy. It has also launched its own oil-backed coin, named the petro (PTR), partially in a bid to circumnavigate international sanctions imposed upon it by the USA and its allies. Many state-owned organs also operate crypto mining operations.
But should a buyer decide to pay in crypto for the property, it would be a major turning point for crypto’s cause in the private sector – with most adoption-related breakthroughs thus far taking place in the remittance field. Supermarkets and other stores accept BTC and other coins, but large-scale crypto-powered real estate deals remain terra incognita in Venezuela.
The house, the media outlet Amando reported, is a mansion belonging to the brother of the founder of domestic banking giant Banesco. The media outlet explained that the property has a commanding view of the capital, Caracas.
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