- A Spanish property firm named Piso Barato Inmobiliaria has introduced a cryptocurrency payment feature in industry-first.
- The company is primarily developing assets and properties on the Canary Islands.
- As Bitcoins are increasingly used as a mode of transaction, moves such as these by private companies cement its popularity.
In another testament to the growing popularity of cryptocurrencies in general and Bitcoins, a Tenerife-based Spanish property firm named Piso Barato Inmobiliaria has decided to jump on the crypto bandwagon. It recently announced that its customers would have the option of acquiring properties in the Canary Islands by paying with Bitcoin.
Bet on Bitcoin’s popularity
The current frenzy of investing in BTC and the general popularity surrounding cryptos can be attributed to several factors. However, the most influential of all those can be argued as the notable involvement of private companies in bringing virtual tokens to the mainstream. A sudden spike in its price made everyone notice, even though several governments were still divided on proper regulatory protocols to be followed.
Yet, investor sentiments remain high, and Bitcoin continues its historic bullish run at markets worldwide. Several companies engaged in FinTech and other sectors realised the importance of crypto-adoption and started offering attractive payment methods. Piso Barato Inmobiliaria is one such company in a long list of agencies worldwide.
Expanding market horizons
In its announcement to introduce BTC payment methods and to justify its move, the firm argues that certain experts view BTC as a “global currency” of the future. International payments can also be processed smoothly, providing customers with a hassle-free experience. The firm also said that it would be prudent for the firm to act in its customers’ interests and adapt to the changing times. The company is also ostensibly attracted by cryptos decentralised nature, thus enabling companies to supersede the government at some levels and cut red-tape significantly, that too in a property market.
As of now, prospective clients of the Canary Islands agency can pay for their property in any cryptocurrency of their choice. This may not be the first case of property bought via Bitcoins. In 2018 another firm, Idealista, listed its property for sale in Barcelona exclusively via Bitcoins. Yet, the company maintains that the payment was carried out in a traditional method.
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