Use of cryptocurrency adoption has increased in the real estate transaction industry
PALM BEACH, Florida, December 8, 2021 / PRNewswire / – FinancialNewsMedia.com News commentary – The real estate industry is changing rapidly and dramatically as new technologies and services influence the way the company conducts real estate transactions. One of the emerging technologies of the last decade is cryptocurrency. The growing popularity of cryptocurrencies like Bitcoin and Ethereum has made it possible for some people to sell or buy a home with cryptocurrency as their only medium of exchange. Buying a house with a cryptocurrency like Bitcoin is becoming more and more common. In fact, some believe that cryptocurrency will revolutionize the future of real estate transactions. A recent item UpNest on Real Estate discussed this new rise of cryptocurrency in real estate, stating, âCryptocurrency is increasingly making its way into real estate transactions in a variety of ways. real estate ads. Several sellers and agents have used this tactic to create more buzz and attention for their properties. Some sellers insisted on all bitcoin. Others demanded payments split between US dollars and bitcoin. It can work well for high end homes. announcements where the most likely buyers may have and want to use their bitcoin for real estate.This seems to be an upward trend as many have made big cryptocurrency wins and are looking for a way to balance that and preserve their earnings by converting them into tangible real estate. Â»Companies active in the markets today include Presidio Property Trust, Inc. (NASDAQ: SQFT), Coinbase Global, Inc. (NASDAQ: COIN), Sphere 3D Corp. (NASDAQ: ALL), Canaan Inc. (NASDAQ: CAN), Robinhood Markets, Inc. (NASDAQ: HOOD).
UpNest continued, âThere are also exchange desks and physical cryptocurrency stores. More of them can be franchised and appear to increase market traction and build trust with those who lag behind. adopting the currency or wishing to do business in person, offline. For owners and operators of these commercial properties, cryptocurrency could become a real estate business much like McDonald’s. Cryptocurrency has been hot. recent issues with crazy fluctuations in value, people still believe it and it is the future. Digital currencies have many applications in real estate, with many potential benefits for developers, investors, individual buyers , sellers, tenants and the market itself. “
Presidio Property Trust, Inc. (NASDAQ: SQFT) LATEST NEWS: Presidio Property Trust Announces Acceptance of Cryptocurrency for Tenant Payments – Presidio Property Trust, Inc, a diversified, internally-managed real estate investment trust, today announced the acceptance of cryptocurrency as a valid form of payment for tenant rental and CAM (common area maintenance) fees. ).
“We are now configured to accept a number of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Litecoin (LTC), from our commercial tenants,” said Jack heilbron, President and CEO.
“We believe these additional payment options will be attractive to some of our current and potential tenants, particularly in new and expanding markets,” added Gary Katz, Senior Vice President of Asset Management. “This is another way for Presidio Property to differentiate itself as a forward-thinking owner.” CONTINUEDâ¦ To read this full press release for Presidio Property Trust, please visit: https://presidiopt.com/press-releases/
Other recent developments in the real estate sectors include:
Coinbase Global, Inc. (NASDAQ: COIN) recently announced the price of $ 1.0 billion total principal amount of its 3.375% senior bonds maturing in 2028 (the â2028 bondsâ) and $ 1.0 billion total principal amount of its 3.625% Senior Notes due 2031 (the â2031 Notesâ and, together with the 2028 Notes, the âNotesâ) under its previously announced private offering (the âOfferâ) . The overall principal amount of the offer has been increased from the size of the previously announced offer by $ 1.5 billion because of market interest.
Interest on the Notes will be payable in cash semi-annually in arrears, commencing on April 1, 2022, at a rate of 3.375% per annum, for the 2028 Notes, and at a rate of 3.625% per annum, for the 2031 Notes. The 2028 Notes will mature on October 1, 2028, and the 2031 notes will expire on October 1, 2031, in each case, except redemption or early redemption. The Notes will be fully and unconditionally guaranteed by Coinbase, Inc., a wholly owned subsidiary of Coinbase. The Notes and the related collateral will be the general senior unsecured obligations of Coinbase and the Guarantor.
Sphere 3D Corp. (NASDAQ: ANY), a company providing containerization, virtualization and data management solutions, recently released financial results for its completed third quarter September 30, 2021.
âIt has been a hectic quarter and fiscal year 2021 to date for the company. We have successfully pivoted into the cryptocurrency mining industry with the purchase of our first 60,000 miners, capable of producing 6 exahashs of capacity. , with the company having received confirmation that the first One Batch of machines will be shipped next week. Additionally, we have reached an agreement with Gryphon Digital Mining for Core Scientific to host and manage around 230 megawatts of bitcoin mining capacity, which covers over 71,000 bitcoin mining machines, âsaid Pierre Tassiopoulos, CEO of Sphere 3D, adding: âThis year, we also closed financings in the first nine months of this year which have strengthened our balance sheet by providing more $ 200 million cash flow and significantly increased financial flexibility to grow our business. We also sponsored our first SPAC acquisition, Minority Equality Opportunities, which was successfully closed on a $ 126.5 million IPO during the quarter. “
Canaan Inc. (NASDAQ: CAN), a leading provider of high performance computing solutions, recently announced that it has secured a follow-up order from HIVE Blockchain Technologies Ltd. (âHIVEâ), for 6,500 units of its next-generation Avalon Bitcoin mining machines.
This new order from HIVE follows two recent purchases of 4,000 units and 6,400 units from Avalon Miners of Canaan in August 2021 and January 2021, respectively.
Mr. Nangeng Zhang, Chairman and CEO of Canaan, said, âThe additional purchase order from HIVE further strengthens our working relationship. The back-to-back agreements are not only a testament to the quality and performance of our mining machines, but also demonstrate our effective customer relationship building efforts. We will continue to position ourselves as an important partner for HIVE as they accelerate the growth of their business. With our next generation Avalon miners as well as our quality on-site and off-site support, we are confident to achieve more success with our customers in the crypto mining field. “
Robinhood Markets, Inc. (NASDAQ: HOOD) and Citadel Securities got the dismissal of a proposed class action lawsuit brought by retail investors who accused the companies of collusion during the meme action frenzy in January.
U.S. District Judge Cecilia Altonaga in Miami said the plaintiffs had failed to demonstrate that there was an agreement between Citadel Securities and Robinhood to act in concert. In a ruling on Wednesday, she dismissed the case without prejudice, giving the investor group up to December 20 possibly file a modified complaint.
The lawsuit alleged that Citadel Securities had accumulated a significant short position in GameStop Corp. and other stocks that exploded in value, and the market maker pressured Robinhood to prevent clients from buying those stocks, which the online brokerage did 28 january.
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