Bitcoin adoption is on the rise, and major industries are beginning to realize that Crypto is something they cannot ignore.
After El Salvador adopted Bitcoin as legal tender, New York City began to adopt Bitcoin, which caused a storm in the real estate sector. A large real estate company in New York City announced that it would sell some of its major real estate to buy Bitcoin and opened the transaction to buyers from all over the country, including mainland China and Hong Kong. Magnum Real Estate Group is a company headquartered in New York City, USA. The company announced that it will accept Bitcoin as a payment method for this property. This is the first commercial real estate transaction in New York City. The company has opened the transaction to buyers from all over the world. If these properties are sold in Bitcoin, they will be the most valuable properties ever purchased with Bitcoin. This transaction will be processed by BitPay, and a 1% handling fee will be charged, and the amount will be paid in the corresponding Bitcoin at the time of purchase. Magnum explained that, given that these properties are already generating income, buyers of these properties will immediately see cash flow. The company considers itself a pioneer in Bitcoin transactions in the industry. Ben Shaoul, managing partner of Magnum, said, "We are pioneers in Bitcoin transactions, and we see the possibility of using blockchain technology for more transactions." Despite the slow pace, the real estate market has not been completely left behind by Bitcoin. Some real estate transactions have already adopted Crypto. The most notable of these is the $22.5 million beach house in Miami that was sold through Crypto, which is currently the highest value real estate sold through Crypto. At the same time, 1 Hyde Park, the most expensive penthouse in London, recently opened with a value of US$244 million. Users can choose to buy it with Crypto. Obviously, if sold in this way, it will make it the largest Crypto real estate transaction in the world. All these developments have had a significant impact on Crypto. The Times reported that 40-year-old Vineet Budki used Bitcoin to buy a house in Dubai. The Crypto miner bought this $1 million villa. Ben Shaoul stated that this will not be the company's only Bitcoin transaction this year. The managing partner of Magnum Real Estate Group expects that the company will conduct two or three BTC transactions this year. For a long time, real estate has been the best performing investment in modern history. Now, with the blessing of Crypto assets, its ability to increase value seems even stronger.
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