Since Bitcoin reached its all time high of almost $20,000 in the beginning of 2018, the price has fallen by over 80%. Towards the end of the year, BTC fell as low as $3,150. It carried the entire cryptocurrency market down as over $700 million was deleted from the total market capitalization of cryptocurrencies. Many investors have called for a bottom but its still not clear when this would happen. Irrespective of this, people are still selling their homes for cryptocurrencies.
People Sell Their Homes For Cryptocurrencies
Many homeowners have been reportedly selling their homes in cryptocurrencies amid the bear market. According to media reports on the 30th of January, people in Australia still have properties that they are selling in BTC and other cryptocurrencies. One real estate agency known as Ray White has listed a beautiful, luxury three-bathroom home for $580,000 in Surfers Paradise and the owners are willing to accept Bitcoin payments. Also, in a suburban area in Darwin, an apartment is being sold for about one hundred and twenty six Bitcoins which is equivalent to $600,000 at current rates. The statement in the private listing was as follows:
“We welcome Bitcoin payments along with any other major cryptocurrency. We prefer these to cash payments to the Australian dollar.
Apart from selling houses in cryptocurrencies in Australia, parcels of lands are being sold for cryptocurrencies as well. One listing for a parcel of land worth $86,000 is to be paid in BTC if the buyer wants.
Bitcoin (BTC) Price Today – BTC / USD
Australia is one of the many regions that are listing real estate in cryptocurrencies. In San Francisco, Craigslist is advertising a mid-century estate at a hillside for $3.3 million to be paid in BTC and other cryptocurrencies if this is what the highest bidder is offering.
A $2.3 million home in Hughson California is being listed to be sold in Bitcoins. The property includes 14 acres of land that were designed by Conrad Sanchez. In Playa Colorado, a beautiful property has been listed for just 70 Bitcoins. Another property on Saddlebunch Key is being listed for $900,000 in Bitcoins. Still in California, there is a four bedroom in a luxury cherry estate that is being listed for $2.3 million in digital currencies.
Finding Value From Cryptocurrencies
Over the last two years, there has been a steady rise in the number of real estate listings that accept cryptocurrencies. When the price of cryptocurrencies fell, many people expected this interest to fade. However, people are still finding value in selling their homes in cryptocurrencies. In fact, it’s possible that these homeowners are taking advantage of the reduced price in cryptocurrencies using the opportunity to gather more coins. So far, there are still many who want to sell their houses in cryptocurrencies in 2019. There are many new listings coming up of properties that can be sold for cryptocurrencies rather than fiat.
Do you think the trend will continue throughout the year 2019? Why do you think individuals are willing to sell their properties in cryptocurrencies despite the cryptocurrency winter? Feel free to post your comments.