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On the small Indonesian island of Bali, a big deal is going down as the a villa has
been sold in what is known to be the largest Bitcoin transaction to date.
The two bedroom, two bathroom property complete with private pool was bought by an anonymous
buyer in Texas with less than 1,000 bitcoin, which is the equivalent to roughly $600,000
US dollars.
I can't tell you the exact amount, but it's just short of 1000 bitcoins, which depending
on the exchange rate, translates into about 600,000 U.S. dollars.
Despite the digital currency not being regulated or accepted as legal tender, the deal was
sealed in late February through BitPremier, which is an exclusively-bitcoin trading website
for luxury goods.
We've been referred to it by a family member, who has been dealing with bitcoins for the
last two to three years so we thought we give it a try and see what happens. And that worked
out to be pretty good for us. And you know, I know it's not a legal currency, I don't
really know if it ever will be, but I think the thing that has to happen right now is that the various
governments, including the government of Indonesia, put the regulation in place and decide
how they want to deal with this currency or this phenomenon.
The Indonesian Central Bank said the villa sale did not violate its law, as it was done
in U.S. Dollars.