Half of real estate transactions soon in cryptocurrencies? –

According to Ryan Serhant, a famous New York broker, 50% of real estate transactions must be done in cryptocurrencies within 5 years. But he believes that the virtual currency industry would need to be more compliant with regulatory requirements to get to this point.

Increasingly pronounced interest

Ryan Serhant, famous host of Million Dollar Listing New York, said this week that 50% of real estate transactions will be in cryptocurrencies over the next five years. This ad would have gone unnoticed if its author was not an expert in their field. In fact, Ryan Serhant is a great real estate broker in New York. Thanks to the company he founded a few years ago, he has already sold properties worth more than a billion dollars. And crypto-asset transactions are entering its portfolio. “This month, in New York City alone, we should do one or two wallet-to-wallet. And six or seven more using an intermediate platform like BitPay ”revealed Ryan Serhant.

The broker also underscores the growing interest of celebrities in cryptocurrencies. Some would use these assets to pay for virtual properties in metaverses. Others go further by using these digital currencies (Bitcoin, Ethereum, etc.) to buy some penthouses in cities like New York. According to Ryan Serhant, cryptocurrencies will become a means of payment for traditional housing in the short term. This will force banks to add these currencies to their product line to facilitate home loans. However, there is still a significant obstacle to its adoption: volatility and a certain risk that arouse the reluctance of banking establishments.

Obstacles that must be removed for wide adoption.

“If I tell them that my assets are made up of a mixture of Solana, Bitcoin and Ethereum, the bank will usually tell me that it is too risky a portfolio, that they cannot grant a loan on that basis, or maybe only about 25%”, Ryan Serhant admitted. However, he remains convinced that cryptocurrencies are the future of finance. He believes that the reluctance of banks will soon be swept away by the implementation of an appropriate policy and legal arsenal. This will allow, in particular, to expel criminals and avoid embezzlement.The broker also highlights the advantages of cryptocurrencies, including speed and ease of operations.

“I am definitely a believer in safe money. But at the same time, if using crypto makes buying a home easier and faster, it sounds quite tempting, ”said Serhant. That is why he calls with all his wishes to the influx of new cryptocurrencies in the world and in particular in the United States. In this country, the first real estate transaction made entirely in Bitcoin took place in Texas in 2017.

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