Bitcoin + Real Estate?
BITCOIN now buys into real estate? In case you didn't know...Bitcoin has already made its mark in retail locations and restaurants.
We knew it was only a matter of time until this ever-so-popular cryptocurrency took on real estate. That time is now.
The first single-family home in Texas was sold to a buyer using Bitcoin a few months ago - and apparently, it was pretty easy!
The transaction was for the purchase of a newly built custom home, and the full purchase price was transferred to the seller/builder via Bitcoin. The seller then converted the coin into USD. The broker for the purchase said:
"In all of my 33 years of closing transactions, I honestly couldn't have expected something so unique to go so smoothly. In a matter of 10 minutes, the Bitcoin was changed to US Dollars and the deal was done!”
The purchase of the home as an agreement between buyer and seller represents another step toward widespread acceptance of the currency. Other companies are seeking to use tokenization of assets to allow smaller-scale real estate investment via Blockchain technology as well.
There is a lot of talk about what many are saying Bitcoin is now the new money. The value of bitcoin has skyrocketed to $17K per bitcoin and it’s predicted that it will worth as much as $500K per bitcoin.
What are your thoughts on the cryptocurrency, and would you have accepted the Bitcoin as the seller in this transaction?
