We live in a world that is dominated by technology. One of the concepts that has come to life from the tech industry is digital currency. Many have disregarded Bitcoin and fail to acknowledge it, yet it continues to find its way onto the main stage when it comes to currency.
Stocks in the cryptocurrency have taken a plunge and China wants no part of it. Their Securities Regulatory Commission and Banking Regulatory Commission have called for an end of Bitcoin use by the end of the month. Some wonder if this is because China wants to incorporate its own digital currency. With a government issuing both digital currency along traditional money, they could eliminate any potential competition between the two types of currency.
Bitcoin supporters are saying that the currency is just getting started. It has even spread into the wonderful world of real estate. While there have been several real estate transactions which have included the cryptocurrency, the first sale in the state of Texas using only Bitcoin was just completed. Texas is joined only by California as a state with a property sale in only Bitcoin. I am pleased to share that a Sotheby’s International Realty affiliate took part in the recent transaction. Kuper Sotheby’s International Realty broker Sheryl Lowe proudly represented the buyer in the seemingly smooth and overall easy purchase.
Now that Bitcoin is making its way into real estate, will people take it more seriously? While it is hard to predict exactly what the future holds for digital currencies, Bitcoin doesn’t plan on going anywhere.
Want more? Read more from USA Today, HousingWire and the press release about the transaction on PR Newswire.