There's a new currency on the block. According to news.bitcoin.com, Bitcoin.com's publishing arm, "Cryptocurrency and real estate are built for one another." While Bitcoin.com is a marketplace for cryptocurrency and thus is motivated to sell us anything that makes the currency appealing, I believe they're onto something here.
In January, a single Bitcoin was worth $28,600, the Crypto Economy's Market Cap hit $1 trillion that same month! Today, that 'same' bitcoin is worth more than $45,000. What's that have to do with the price of real estate?
It's time to work 'tokenized' into your vocabulary. Tokenized is when all or part of a thing of value is leveraged or traded for cryptocurrency, for example, property. Yes, you can trade your home for bitcoins, and that's exactly what people are doing to get their hands on cryptocurrency; leveraging their home for coins in an unregulated marketplace.
Thus in many ways, the real estate market is not only dancing with the cryptocurrency market but in many instances, they're falling further and further in bed with one another. I believe we will see cryptocurrency as proof of financing, see it converted into down payments and home payments, and it may even become the preferred payout at closing. ATMs for Bitcoins are already at many of your local gas stations. Right here in the Marigny, New Orleans, there is a Bitcoin ATM at our favorite bodega Hanks, not far from the vape selection and directly across from the fried chicken counter.
But what will this mean for the overall financial market? How big will the swings and dips in the crypto marketplace impact our global, national, and local markets? Time will tell.
In the meantime, if you're looking to trade currency and property, let's talk. To continue to learn about two other surprising trends that will impact the real estate market this year, visit coolmurphy.com and download my full 2020 Market Report.
Voted Neighborhood Favorite by Nextdoor, Team Cool Murphy is a top-producing, licensed real estate team based in New Orleans, brokered by Cool Murphy, LLC.
Celebrated for her next-level creative approach to real estate, Elisa Cool Murphy is an award-winning, top-performing agent in New Orleans and the founder and leader of Cool Murphy, LLC.
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