Welcome to 2018 – a year when cryptocurrencies are entering the real estate market. As of recently, a Tokyo-based real estate company has decided to sell a small commercial building for $6 million or (currently) around 547 bitcoins. This marks the first building in Japan (and probably the world) that will be sold using Bitcoin.
The news comes from an interview where the South Korean mainstream media outlet MK and the Japanese real estate startup Yitanzi have both stated that selling properties in this way allows great potential for cryptocurrencies. However, you shouldn’t be surprised by the fact that there is also an increasing number of investors overlooking the cryptocurrency market when buying real estate.
According to Yokozawa Yuske which is Yitanzi’s CTO, the increasing number of investors in the crypto space are looking to sell multi-million dollar properties in exchange for Bitcoin and capitalize on the rise of the cryptocurrency. They hope that they would win double – once on the price and a second time on the growing price of Bitcoin.
Japan is moving to a state of greater adoption of Bitcoins, cryptocurrencies and blockchain. Some of the largest electronics manufacturers, budget hotel chains, airlines and retailers are already accepting Bitcoin and regulated the exchange market. Experts predict that very soon, this will be happening all around the globe.
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