December 6, 2022

The Latest Crypto Adoption: Buyers Can Pay in Bitcoin for Manhattan Retail Properties

2 min read

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.

New York City. Source: Street Easy
New York City. Source: Street Easy ASF Accepts Crypto Donations Another example of cryptocurrency adoption originated from the Autism Science Foundation. The non-profit organization that supports the lives of kids and grownups suffering from the disease revealed that it now accepts donations for its cause in 7 different digital possessions. Namely, those are Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, USD Coin, and Dai.

Alison Singer – – Co-Founder and President of the ASF – – raised hopes that the brand-new opportunity could rely on be extremely helpful for the people in requirement:

“We are enjoyed broaden our fundraising mechanisms to now include cryptocurrency, which allows both individuals and corporations yet another method to make a significant distinction in the lives of individuals with autism.”

She also pointed out the Wall Street Rides FAR (WSRF) fundraising event. Numerous prominent crypto companies such as Gemini, BlockFi, FTX, Paxos, and Fireblocks have sworn to sponsor the upcoming annual charity biking and walking occasion that has raised more than $2 million for the ASF to date.