The early buyers of Bitcoin and various other cryptocurrencies have witnessed an exponential rise in their holdings’ value. Some early cryptocurrency millionaires are making the full use of this opportunity and are using their cryptocurrencies to buy real estate in the US.
Various early birds are following the same route. As per a report, a beef salesman by trade, Guo Hongcai, happened to adopt Bitcoin in its early days. Over the time, he has emerged to be one of the crypto millionaires and has diversified his investment by using its crypto gains in the global real estate industry.
Hongcai sold his 500 BTC in the US in April and purchased a 100,000 square foot mansion in Los Gatos which is located at a distance of 90-minute drive from San Francisco in California. Additionally, he is also a proud owner of Rolls-Royce which he purchased by selling his BTC holdings.
Hongcai was spotted confessing that is very easy to sell Bitcoins in the US, and you can almost buy anything from the income so generated.
The Hub of Cryptocurrencies
Similar to Hongcai, there are various others Chinese crypto millionaires who are selling their Bitcoins either to directly purchase a property or convert them to foreign currencies to buy properties with. This has become more evident after the Chinese government started clamping down on the crypto activities within the country.
Natalia Karayaneva, the CEO of Propy, a real estate a real estate marketplace powered by cryptocurrencies, admitted that there is a sudden upsurge in the industry as more and more people are willing to buy properties with their cryptocurrencies. This is probably because this way it has become easier to get the money out of the country rather than putting your money in a Hong Kong Bitcoin account.
Karayaneva revealed that both the UK and the US are the most popular locations for real estate investments. Further, crypto millionaires are only interested in buying the properties next to a good education institute, like Stanford.
Crypto Wealth is Rolling High
Dekel, CEO at SetSchedule, says that various blockchain enthusiasts are interested in investing in real estate properties overseas. This has sparked the interest of sellers who are not accepting cryptocurrencies from international buyers unhesitatingly.
Further, online marketplaces like Propy have simplified the whole process. These portals are in line with various jurisdictions and help the investors in tax evasion.
However, it would be wrong to conclude that the people purchasing real estate properties with the help of cryptocurrencies are only China-based. Instead, this has slowly emerged to be a worldwide trend. Recently, Europeans used their BTCs to buy Aston Crypto Plaza in Dubai, which is a luxury apartment project supervised by British Baroness Michelle Mone.
No matter the country and the people involved in crypto trading, one thing is for sure that crypto wealth is undoubtedly going to impact the global real estate market immensely.
Read more on Business.
Thanks a lot for sharing this with all of us you really know what you are talking about! Bookmarked. Please also visit my site =). We could have a link exchange contract between us!
Wow, amazing blog layout! How long have you been blogging for? you make blogging look easy. The overall look of your website is great, as well as the content!
excellent points altogether, you simply gained a new reader. What would you suggest in regards to your publish that you just made some days in the past? Any certain?
Magnificent website. Lots of useful information here. I?¦m sending it to some buddies ans also sharing in delicious. And certainly, thanks to your sweat!
Thank you for the good writeup. It in fact was a amusement account it. Look advanced to more added agreeable from you! However, how could we communicate?
Thanks for the ideas shared on your blog. Another thing I would like to mention is that weight reduction is not information about going on a dietary fad and trying to shed as much weight as you’re able in a couple of weeks. The most effective way to lose weight naturally is by getting it slowly but surely and using some basic tips which can provide help to make the most from the attempt to drop some weight. You may recognize and already be following many of these tips, nonetheless reinforcing know-how never affects.
I have been reading out a few of your stories and i can claim pretty good stuff. I will make sure to bookmark your site.
I discovered your weblog site on google and verify a few of your early posts. Proceed to keep up the excellent operate. I simply additional up your RSS feed to my MSN News Reader. Looking for ahead to reading more from you afterward!…
Another issue is that video gaming has become one of the all-time largest forms of excitement for people spanning various ages. Kids have fun with video games, and adults do, too. The XBox 360 is among the favorite games systems for those who love to have hundreds of games available to them, and also who like to relax and play live with other people all over the world. Thank you for sharing your ideas.
Aw, this was a very nice post. In idea I would like to put in writing like this moreover ? taking time and actual effort to make a very good article? but what can I say? I procrastinate alot and by no means appear to get something done.