June 15, 2021

Buyers turning to cryptocurrency for real estate purchases

MURFREESBORO, Tenn. (WTVF) — In the current real estate market cash is still king, according to local realtor Derek Trainer.

“Since I’ve been in it’s probably the hottest market I’ve ever seen,” he said.

But that wasn’t the case when he got a call from another agent about a $1 million house he was recently selling. “He had called me about ‘hey out of curiosity before I show this property will your seller accept Bitcoin as payment?'”

Bitcoin is a type of cryptocurrency or a “digital currency that generally only exists electronically.” Its value can fluctuate at any given moment.

“The value of crypto is all on the other people that think it’s valuable, right? So if I didn’t think that the crypto is valuable for that transaction it would have never happened,” said Eric Hensley, the home’s seller and Trainer’s client. “Tons of transactions have happened in Bitcoin in all types of things- why not real estate? and I was comfortable enough to know about it.”

So, how do you sell a house…

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