Giving buyers the option to pay in Bitcoin is a fairly new move in real estate, so this kind of news in media will sooner than we expect become quite usual as homeowners, real-estate agents, buyers will more and more put the option to purchase-sell the properties in Bitcoin, Ethereum or other cryptocurrencies, showing people that real-world goods and services are payable in Bitcoin and other cryptocurrencies.
Examples of Real Estate deals with cryptocurrencies:
- Miami Beach Condo Owners Accepting Bitcoin and Ethereum for $3.5 Million Penthouse
- Coral Gables Homeowner Will Accept Bitcoin for His $6.4 Million House
- Man Accidentally Makes $1.3 Million Buying a House With Bitcoin
Bitcoin, Ethereum will become the future of real estate, and it’s not so much a question of ‘if’ as it is ‘how and when’, because working with a global currency could prove to be an advantage in an international real-estate market.
The buyers are coming in from China, Russia, Dubai with Bitcoins, a buyer could come from anywhere in the world, because it’s cryptocurrency that’s not necessarily tied to where you live.
“I think the world is changing so quickly and everyone is adapting,” Cassis a real-estate expert says. “It’s a way of helping the public and our clients understand other ways of purchasing real estate.”
“Obviously, Miami is an ideal market for Bitcoin, giving buyers and investors from South America, Canada, Russia, Asia, and the Middle East the opportunity to make their purchases quickly and smoothly,” Realtor Stephan Burke, the listing agent for the Coral Gables mansion, wrote in an October op-ed for the Miami Herald. “Our city has a tremendous opportunity to be a trendsetter in this regard.”
Earlier this month, Fernandez listed the condo, a $3.5 million penthouse at the Blue Diamond in Miami Beach, with a note saying the owners would accept payment in Bitcoin or Ethereum, another digital currency.
“It’s only a matter of time to where it’s going to pick up in Florida,” says Fernandez, the owner of Sol/Mar Real Estate.
Because so few homes have been purchased with Bitcoin, there’s no playbook for how those real-estate transactions should work, but as for the logistics, Fernandez says he’s not worried about being able to work something out among the buyer, the sellers and the bank, as “At the end of the day, it can be done,” he says assuredly.
One of the main issues with Bitcoin from a mainstream adoption perspective is price volatility, but a man in California recently benefited from short-term Bitcoin price volatility in a major way, as the buyer of the home was left with an extra $1.3 million after the purchase of the home.
