50% of real estate transactions will be in cryptocurrency!

More and more properties are starting to sell with this new type of payment says Ryan Serhant – the real estate broker, author and star of “Million Dollar Listing New York” – has sold over $1 billion in real estate.


He predicts that 50% of real estate transactions will be done using cryptocurrencies in the next five years.


Earlier this month, someone paid the equivalent of $450,000 in SAND tokens for a house in the meta universe next door to Snoop Dogg. One could buy a physical home for that kind of money.


While 2021 has seen a boom in the virtual property real estate market – with people and companies paying hundreds of thousands of dollars in ETH and other cryptocurrencies to mortgage their claims – some are instead taking their cryptocurrencies and buying real-world properties.


The U.S. real estate market alone is worth $156.2 billion, according to IBISWorld. New York City is one of the places seeing an increase in crypto holders, with investors using their profits to move into luxury addresses.


“There’s just going to be a lot of crypto whales moving money around and putting it into hard assets, buying penthouses and all that,” said the founder and CEO of eponymous real estate firm Serhant.


“I think we’re at a very unique moment in time.”


“We’ll end up doing, just in New York, maybe one or two deals this month that are wallet-to-wallet,” Serhant said.


“And then six or seven transactions this month using an intermediary like BitPay.”


The celebrity real estate broker says that as more people get comfortable with cryptocurrencies, they will become a means of potentially saving for things like home ownership. Banks should also be more comfortable handling the asset and start facilitating loans. But that time hasn’t come yet.


info from: cryptodnes.bg