The New York-based home management company – – Magnum Real Estate Group – would accept Bitcoin (BTC) as a payment technique for the sale of three ground-level shops worth almost $30 million located in Manhattan.
In addition, the Autism Science Foundation (ASF) announced it would enable individuals to make cryptocurrency contributions. At first, the non-profit organization would accept the following digital properties: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), USD Coin (USDC), and Dai (DAI).
BTC Invading The Real Estate Industry
According to a recent report, among the prominent American property management companies – – Magnum Real Estate Group – would allow purchasers to utilize bitcoin for the purchase of three ground-level stores worth $29 million. BitPay – – a bitcoin payment service provider – – would process the future cryptocurrency transactions.
The shopping mall, also referred to as CODA, is located on the luxurious part of Manhattan – – 385 First Avenue. It covers over 9,000 square feet of area and includes M&T Bank, clinic ProHEALTH Urgent Care, and restaurant Mighty Pita.
Ben Shaoul – – Managing Partner of Magnum Real Estate – – pointed out that his firm has experience with digital possessions as it has formerly sold houses using this payment approach.
In his turn, Sonny Singh – – Chief Commercial Officer of BitPay – – described that possible purchasers from every part of the globe, including those from Hong Kong or mainland China, can use bitcoin to purchase the residential or commercial property:
“The appeal of crypto is that it is a global digital property. The buyer just scans a QR code to pay.”
If someone pays the $29 million in BTC, the deal would mark the most costly transaction in the property market acquired with crypto. Since the minute, the record belongs to a luxurious penthouse in Miami Beach. In June this year, a confidential buyer paid a whopping $22.5 million in digital assets to acquire the oceanfront condo.