Friday, December 1, 2017 / by Leon Zhivelev
Would you accept Bitcoin as payment for your property?
Just one year ago, if a buyer approached you and offered you Bitcoin for your home, the majority of home-sellers would have kindly rejected the offer. We all know the saying, "Cash is King".
One year later, that same seller would have ended up with ten times as much profit for the sale of their home versus a traditional sale, as long as they held on to the digital 'crypto-currency.'
In December 2016, one BTC (Bitcoin) was valued just around $750 dollars. And today? It’s just a cool $10,500 per single BTC.
To put into simple math, if your property was listed for $300,000 and you accepted this prospecting crypto-buyer's form of payment and held onto it, you would now have roughly $4.2 million dollars after the 1,300% climb in value of bitcoin in the last year.
Cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.
After hitting $10,000 per single Bitcoin (BTC) this last month, the internet has been going crazy with speculation, the 5 stages of FOMO (Fear of Missing Out) and first time investors.
Would you accept Bitcoin or another Cryptocurrency as payment for your home?