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- Paul Gray to include crypto payments in down-payments for his houses
- He will be the first one to include a risky platform like crypto in the business of intangible assets
- Presently, he will accept only a few digital currencies, but gradually will be including the rest
The growing popularity of bitcoin has made its way into several markets and projects. The former member of the Wichita City Council, Paul Gray Holmes has announced that all the buyers in and around Wichita can buy homes by making a down payment using cryptocurrencies. He is said to be the first-ever builder who will be accepting crypto as a mode of payment. As we know that it is a form of digitized currency and cannot be tampered with, it is virtual, but it is there. As per Paul, accepting bitcoin would lead to several opportunities for the builder. A lot of people can participate and the business can reach out to the greater parts of the markets, wherein it can participate in share marketing. A lot more people would give attention to buying homes using virtual currencies. Paul sees it more as an opportunity and much less as a challenge, being the first among all.
Bitcoin making its way through property and houses
Land and property, being an intangible asset, possess a huge mode to invest in, for the market owners who deal in crypto and make a lot of profits, they can also think about indulging in spending their money on such an intangible asset. A situation may arise wherein a person does not have the down-payment amount handy in the bank, but has a much larger amount in bitcoin which is difficult to liquify.
They can easily depend upon it to claim their property. It is very much like the old barter system, which existed long back when people used to exchange pieces of stuff to get what they needed. If one is short in cash, he or she can liquify their crypto to get what they want, especially something like a house. As Paul has not yet evaluated and gone through all the digital currencies, he is presently only accepting BTC, Dogecoin, ETH, and ETH Max. Slowly and gradually he would include more and more digital currencies to make the facility accessible to all.
Opportunities over risks are what Gray chooses
As we are very much aware of several wealthy bitcoin owners, who have millions and billions in their crypto accounts, Gray, whose property values range up to $1 million, these wealthy owners could easily buy whichever property they want to. As we know that the credibility of bitcoin stands at the highest, as it is the oldest form of cryptocurrency, in recent years its value has touched the sky. Paul is highly relying on his faith on bitcoin, as the mode of down payment. In short, the growing demand for crypto over all other currencies has made Paul Gray think in a different way, wherein he has become the first example in accepting crypto payments for his houses. He has been closely looking into crypto for a long time, and even has his own BTC mined, and thus has taken this course in his business. He did agree on the risks that exist in performing business via crypto, as it is a very nascent form of currency. He is ready to take the risks, as the opportunity outdoes the risks. He is also sure of the fact that very soon, crypto will also become mainstream and will become common to all individuals worldwide, and will become a good commerce platform.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
