Mausam Bhatt Chief Product and Technology Officer | realtors.com
As Bitcoin's value surpasses $100,000, property buyers are exploring the option of using cryptocurrency for real estate purchases. The surge in Bitcoin's price follows President-elect Donald Trump's nomination of Paul Atkins as the head of the Securities and Exchange Commission, a move that has sparked optimism among cryptocurrency enthusiasts.
"There is anticipation that the new administration is going to be somewhat more favorable to crypto than the old administration was," said Andrew O’Neill, a digital assets expert at S&P Global.
Despite its volatility—highlighted by Bitcoin's sharp decline during the COVID-19 pandemic—the market continues to attract investors who are now considering real estate investments. Sellers across various U.S. cities like Miami, New York, Los Angeles, San Francisco Bay Area, Las Vegas, and Colorado are increasingly open to accepting cryptocurrency.
"Miami is the U.S. crypto hub," Johnny Schiro from RealOpen mentioned in an interview with Realtor.com.
RealOpen facilitates real estate transactions by converting cryptocurrency into cash for sellers for a fee. Meanwhile, companies like Milo offer crypto-backed mortgages allowing buyers to leverage their virtual currency holdings as collateral.
However, prospective buyers should consider tax implications when cashing out their crypto holdings due to potential capital gains taxes. For those preferring direct crypto-to-property trades, platforms like Propy provide options where users can maintain their coins in escrow until finalizing sales.
Currently available properties include homes in Sebring and Brooksville, Florida; Laytonville, California; and Myrtle Beach, South Carolina—all accepting various cryptocurrencies such as Bitcoin and Ethereum as payment options.
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