Silbert, CEO of online portal BitPremier has successfully completed the sale of a $500, 000 villa in Bali, Indonesia, with the transaction being completed entirely in Bitcoins.
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Alan Silbert founder and CEO of online Bitcoin dealers BitPremier, has successfully concluded the world’s largest Bitcoin only transaction to date , handling the sale of a 3, 000-square-foot villa in Bali, Indonesia for a sum reputed to well in excess of $500, 000, ( around 800 Bitcoins) although Silbert , is prevented from revealing the final sale price to protect the confidentiality of the buyer
After details of the sale well announced Alan Silbert emphasized the fact that it provides bricks and mortar proof that there are an increasing number of people who believe in Bitcoin and are willing to use the electric currency as a means of conducting large-scale online transactions.
What is for sure is that the Bitcoin transaction certainly leaves the more than $100, 000 paid for a Tesla Model S electric powered sports car in December last year well in its shade.
BitPremier, which is backed by Alan Silbert’s brother Barry’s Bit Coin Opportunity Fund was established in the middle of 2013 with the intention of acting as a middleman for sellers of high-value items who would prefer to be paid in Bitcoins.
Barry Silbert is well-known in the world of conventional banking as the founder and CEO of SecondMarket, which deals in the non-liquid stocks held by privately owned community banks.
Since it was established in the 2013, BitPremier has succeeded in establishing an online marketplace where Bitcoin buyers and sellers can browse what they are interested in buying and selling, including properties, objects of fine art and jewelry, as well as electrical goods, cars and even yachts. One of the most unusual items to appear on the BitPremier portal are a pair of unique Wooly Mammoth tusks which are currently on offer for an asking price of $175, 000 as well as a 1969 Boss 429 Mustang, with a list price of around $290, 000.
Apart from the currency used BitPremier’s online marketing facilitates our summer to a number of similar websites, with the notable difference being that all sellers and buyers remain anonymous, until the deal are settled. If a deal is successfully negotiated , BitPremier hold the Bitcoin funds in escrow until final delivery has been confirmed, at which point BitPremier releases the funds to the seller, after deducting 5% handling charge.
The entire concept of Bitcoin, created in 2009 by a Japanese software programmer, has been the subject of some negative attention in the last few months, due to the exceptional fluctuation of its exchange rate against the dollar. In April of last year Bitcoin values hit an all-time high of $266 before dropping dramatically to $50, since then it has been steadily climbing, with today the value of a single Biotcoin is it in excess of $500 per unit.