Bitcoin Now Being Used to Buy Real Estate

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We have had several posts about how blockchain technology, and in particular Bitcoin could be transformation agents in real estate.  Recently, CNBC’s Diana Olick recently reported that the cryptocurrency is now making its way into closings across the nation.  Just how much is one Bitcoin worth in dollars?  Click here to see the current price/exchange rate.

Our buyer has evolved, they’ve moved from mom-and-pops to young people who want to pay with various forms of payment,” said Ben Shaoul, president of Magnum Real Estate Group. “Cryptocurrency is something that has been asked of us — ‘Can you take cryptocurrency? Can we pay that way?’ — and of course when somebody wants to pay you with a different form of payment, you’re going to try to work with them and give them what they want, especially in a very busy real estate market.”

Click here to read the full story on CNBC.

 

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Director of Education & Outreach, National Real Estate Investors Association

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