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- Miami real estate welcomes crypto assets for down payments against posh condos
- Bitcoin conference flourished and recorded a tremendously positive response for the industries accepting cryptocurrency
- E11EVEN claims to carry out the first-ever real estate crypto payment
- Clients can now deposit crypto asset to purchase condos
Miami Bitcoin 2021 conference has marked history in the cryptocurrency ecosystem. The conference remained a growing spot for many leaders, nations, and organizations to announce bold decisions about cryptocurrencies like Bitcoin. It was observed, 50,000 people were attending the live conference, which helped cryptocurrencies gain more adoption globally. Following the scenario, the United States-based real estate firm was found stepping into the crypto market with plans to accept crypto payments from its clients.
Miami real estate allows property purchase through crypto
Miami based Real estate firm E11EVEN Hotel and Residences has claimed to be the first-ever company in the industry that began to accept crypto transactions from customers. Moreover, the firm is also allowing deposits for purchasing property in terms of cryptocurrency.
The founder and CEO of E11EVEN, Marc Roberts, says that the Bitcoin 2021 conference has opened new opportunities for every sector in the nation. The company seems to be gaining support after the announcement. And also claimed that it already had made the first crypto transaction before the announcement. Simultaneously, the firm also revealed that the second down payment involving cryptocurrency would be witnessed within a month. It is expected to cover 10-15% of the transaction value.
High-end condos gain popularity
E11EVEN, the high-end real estate housing firm, offers plush residences in the Park West region of Miami. The value range of such residences begins from $377,400. The condominium consists of more than 375 divisions and is 65 storied.
The highest return from the penthouse is expected to be around $10 million for E11EVEN. Roberts mentioned that the adoption of cryptocurrency in diverse industries is very significant. In contrast, the ones who are against crypto adoption would regret their decision later. Notably, the younger generation mainly has already accepted cryptocurrency in their lifestyle pretty smoothly. Hence, it only makes sense for the sellers to adopt it as well.
Global real estates industry is embracing cryptocurrencies
Reports of other real estates accepting cryptocurrency as down payments have also been made recently. Residents in Miami and Portugal have allegedly carried out crypto-asset transactions with clients who purchased plush properties.
Even after the volatile nature of digital assets that causes the susceptible response from some parts of the world, the interest in crypto assets has increased tremendously in local areas in the United States, and it is only estimated to expand.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
