Cryptocurrencies, mostly Bitcoin, are starting to entrench themselves in all sorts of places, and one of those is the property market. There have been many cases of houses – from modest Grimsby abodes to Notting Hill mansions – that have been given a Bitcoin price tag by their sellers.
There has to be something to it, as many real estate agents are seeing some surprising advantages to simply slapping a ‘Bitcoin accepted here’ sticker on the front door. Of course, the housing market and the transfer of property is exactly the type of market that is ripe for a Bitcoin-styled disruptive take over, but as it stands, is it worthwhile to sell one’s house for Bitcoin?
Magical marketing
One thing that is plain to see is those who decide to place their houses for sale in Bitcoin are suddenly inundated with media who want to push the story of adoption. The £17 mln mansion in Notting Hill has seen unprecedented interest since it went on sale in October. Lev Loginov, co-founder of property firm London Wall, which is selling the property, said:
“Last week we had 15 viewings. It’s coming from Asia. I don’t think we’ve had anybody older than 30.”
Even a small and unassuming abode in Grimsby, on England’s Northeast coast, garnered media attention across the globe. Cryptocurrencies are at the stage where they still elicit a “wow” factor when they crop up in new markets, and that makes them newsworthy. However, as more people do it, the media will likely move on…
Read Full: Bitcoin Bringing Hype to Real Estate Market
