In the next five years, 50% of real estate deals will be conducted in cryptocurrencies. The forecast comes from a US real estate agent, author and reality-TV star Ryan Serhant in an interview with Decrypt.
“There will simply be a lot of crypto wallets moving money and putting it into hard assets, buying penthouses and all that. I think we are in a unique moment in time,” he said.
According to the realtor, by the end of the year he expects to close one or two such deals, and then six or seven more with the help of BitPay’s crypto-processing.
He believes cryptocurrencies will become a commonplace means of payment in the housing market, and banks should add support for them. But he thinks the time has not yet come, says Serhant.
“Right now, if I go for a mortgage and say that all my assets are in Solana, Ethereum and Bitcoin, the bank will say: ‘Yes, that’s too risky and volatile, we can’t lend for that, perhaps around 25% or so,’” said the real estate agent.
The real estate agent also stressed that realtors cannot sell homes to just any Bitcoin wallet holder — KYC KYC [3 — desert], must be considered to avoid dealings with criminals or individuals under U.S. sanctions.
“I definitely back trustworthy money. At the same time, the ability to acquire cryptocurrency for buying things like a home and all that makes this process faster and easier,” he added.
As reported, an anonymous buyer paid $22.5 million in cryptocurrency for a penthouse in the Arte Surfside luxury condominium in Miami. The homeowner launched the sale for digital assets in May.
Follow ForkLog news on Facebook.