Back in September, we reported on a major milestone in bitcoin’s evolution into a respectable medium of exchange for large purchases: A Dallas real estate agent had negotiated the first all-bitcoin purchase of a US home on record.
Few details about the home or the identity of the buyers were released. However, given bitcoin’s blistering rise since then – the value of a single coin has more than doubled – it’s reasonable to assume that, whoever they are, they probably regret pulling the trigger on their dream home, seeing as, if they had just waited two more months, they could’ve bought two. Indeed, the unknown seller of the home reportedly earned $1.3 million from the bitcoin they accepted as payment in the transaction.
At the time, we predicted that it wouldn’t be long before settling real-estate transactions in bitcoin would be commonplace, something we imagine could help further inflate real-estate prices in trendy markets like San Francisco, while also potentially attracting real-estate speculators to also dabble in bitcoin.
As if according to some preordained plan, Cryptocoins News reported this weekend that real-estate agents in both Miami and New York City are warming to bitcoin, and some have even convinced their clients to accept payment in the digital currency.
Eric Fernandez, owner of Sol/Mar Real Estate, recently listed a $3.5 million penthouse condo at the Blue Diamond in Miami Beach, Fla. saying the owners would accept payment in bitcoin or Ethereum, according to the Miami New Times.
Fernandez believes it is only a matter of time before bitcoin acceptance for real estate purchases gains popularity.
Fernandez is not the only real estate agent who expects more homes to be bought with digital currency. Bitcoin is achieving cult status for international buyers. Some believe Miami will lead this trend.
Another Miami realtor, Stephan Burke, who listed a Coral Gables mansion for sale in August, said the seller would accept bitcoin. Burke pointed out that Miami is an ideal market for bitcoin since it offers investors from South America, Canada, Asia and Russia a way to quickly purchase property.