First Bitcoin Real Estate Deal Takes Place in France

A historic transaction took place in the French city of Gap, where a real estate asset — parking spaces — was purchased using Bitcoin. The deal was facilitated through the Bitcoinimmo platform, which specializes in real estate transactions using cryptocurrencies. This is the first such instance in the country and demonstrates the growing interest among the French in using digital currencies for major transactions.

Payment in Bitcoin to Hedge Against Inflation

The seller of the parking spaces insisted on receiving payment in Bitcoin to protect their savings from inflation. The value of the property was 35,000 euros, or 0.33 BTC. This case highlights the increasing recognition of cryptocurrencies as an alternative to traditional currencies for protecting capital from inflation risks. Bitcoinimmo emphasized that one of the key advantages of this payment method is the fast completion of the transaction — the entire process took only a few minutes.

Full Legal Validity of the Deal and Notary Fees

Despite the use of cryptocurrency, the purchase of the parking spaces holds full legal validity and is no different from a traditional real estate deal certified by a notary. Bitcoinimmo noted that the notary acted in accordance with the law, and the transaction faced no legal restrictions. However, representatives of the platform declined to disclose how the notary fee was paid or whether the purchase was subject to taxes.

This step represents an important milestone toward the broader application of cryptocurrencies in real estate and financial sectors.