Global use of Bitcoin for real estate payments ‘evaporates’ as crypto market crashes ~ June 30, 2022

Rose Rambles...

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After seeing explosive growth over the last few years, the use of cryptocurrencies to pay for real estate has practically come to a standstill in the aftermath of a precipitous decline in the value of digital assets.

Indeed, over the last five years, worldwide cryptocurrency payments for residential and commercial real estate have increased from almost nothing to about $100 million, according to Kashif Ansari, co-founder and group CEO of property technology firm Juwai IQI noted in a South China Morning Postreport.

As per Ansari, last year the use of Bitcoin and crypto to pay for real estate anywhere in the world was still in its relative infancy, and it is now on hold again as a result of the crisis.

“The use of digital coins to pay for real estate globally has all but evaporated after strong growth in recent years, say property analysts” the SCMP…

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