There has been so much hype surrounding cryptocurrencies like Bitcoin in recent years, that it is difficult to ignore any longer.
More people than ever before in history are invested in crypto coins in some way, with over half having exposure to Bitcoin specifically.
Meanwhile, most of North America has experienced profound housing market gains in the past couple of years, which has pushed prices for homes listed for sale sky-high.
Intertwine that with the macroeconomic conditions like inflation that is plaguing just about everywhere, and trying times are seemingly upon us all.
What is Bitcoin?
Bitcoin is a decentralized blockchain comprised of autonomous computer code operating on many thousands of computers in the network simultaneously.
Every Bitcoin transaction gets recorded on its public ledger and updated simultaneously by the networked computer system that makes Bitcoin unhackable.
No one entity controls Bitcoin and the rules that regulate the system can not be changed or manipulated by central authorities, hackers, or anyone else.
Investors buy Bitcoin on crypto exchanges using WEB3 wallets such as Metamask the largest and most utilized decentralized wallet to date.
Why Would Anyone Use Bitcoin to Buy Real Estate?
The price for Bitcoin is very volatile and there are always drastic price movements up or down. Many people who purchased Bitcoin back when the price was $300, or $1,00, or even $10,000 are doing well and have made large ROI today while the price per Bitcoin hovers around $20K each!
After many people made large gains like that investing in crypto their next way to invest those gains was to buy new homes and investment properties, multiplying their investments gains.
Forward-thinking Real Estate Brokerages like Greater PROPERTY Group who operates in Toronto, Calgary, Vancouver, Edmonton, and most recently Connecticut, offer extensive educational content about crypto, real estate, and overall wealth building.
Moreover, like others, they specialize in crypto real estate transactions which provide a safe platform to buy, or sell any properties in Bitcoin or other popular cryptocurrencies.
Others like Bitcoin because you can remain anonymous for the most part, provided that your name doesn’t get associated with your Bitcoin wallet address that is publicly accessible via the Bitcoin ledger.
But the ledger is looked at as a good thing because it keeps the entire Bitcoin ecosystem honest and accessible to anyone and everyone.
Moreover, you can send millions worth of Bitcoin from a wallet in Canada to a Wallet in Florida, or anywhere else around the world for pennies in fees. Plus, Bitcoin transactions are almost instantaneous and don’t have to clear the Feds, or any other centralized authorities first.
Bitcoin was meant to be a TRUSTLESS, peer-to-peer payment system…
Are NFTs Considered Cryptocurrencies?
Non-Fungible Tokens (NFTs) are a form of cryptocurrency or digital asset which can be traded, bought, and sold on platforms like OpenSea, Magic Eden, and others.
So the short answer is yes, but NFTs are typically artwork, many of them are apes these days, but the future could bring NFTs into the mainstream in ways like as real estate titles, closing docs, and more.
Is Bitcoin Going To Continue To Grow in Popularity?
By every measure that matters, it seems like Bitcoin’s popularity will continue to grow as large institutional market makers are adopting Bitcoin and cryptocurrency platforms.
Wells Fargo recently began offering crypto exposure to its customers via its official online website. Others like Cash App and Venmo offer their customers ways to buy and hold Bitcoin and other crypto coins as well.
People tend to think the price of Bitcoin will continue to rise and if that’s the case those who bought it today will benefit tomorrow and maybe they will be able to purchase real estate to further their causes as well.
However, nobody knows for sure and you must always do your own research to ensure that you making sound financial decisions based on your goals and budgets.
You should consult a professional if you aren’t already educated about Bitcoin or other risk-on assets.
Will The Strong Real Estate Market Persist?
With the Federal government tightening down the economy, it has put a damper on the hot real estate market nationwide.
The same goes for Canada and just about every country around the globe, some are doing better than others, but everyone is feeling the economic squeeze.
Many smart people believe that home prices will come down significantly, while others don’t see any slow times ahead.
Only time will truly tell where prices are headed and since real estate is localized there will be some pretty big swings in prices from city, to city, and place to place.
Hopefully, we’ve shed some light on the future of Bitcoin and real estate overall. While these can greatly differ depending on what happens in the world and any black swan events which have already hurt the entire globe’s economies badly this year.
Remember to do your own research, there is a plethora of information available online these days that you can access with a simple Google search, or two…