There is only so much land in the world and only so many homes that can be built. Developers have been kept hopping in North America during the exodus from city dwelling by people who want to stretch their legs and catch some fresh air during the pandemic.
The pandemic pivot to remote work and the emphasis on quality family time exclusive of social activities outside the home are simply signs of the times. Some developers are beginning to recognize and embrace yet another sign of the times: cryptocurrency.
Gradually, cryptocurrencies are making their way into real estate transactions. Recently, a developer out of Washington State with additional properties in California, Texas, and Florida will soon be accepting cryptocurrency as payment for real estate.
Harbor Custom Homes, Inc. will begin accepting digital currencies as payment for listed land, developed lots, homes, condominiums, and apartments starting Jan. 24, according to The News Tribune.
The company noted in a press release that Bitcoin, Ethereum, USD Coin, XRP, Dogecoin, SHIBA INU, Binance USD, Wrapped Bitcoin, Litecoin, Dai, Bitcoin Cash, Pax Dollar & Gemini Dollar will all be accepted.
“Acceptance of digital currencies for our real estate offerings is a logical step for Harbor and demonstrates our flexible business model that separates us from our industry peers,” chief operating officer Jeff Habersetzer said in the release, according to The News Tribune article.
The specific locations where Harbor Custom Development operates are Puget Sound, Sacramento, California; Austin, Texas; and Punta Gorda, Florida.
“By accepting digital currencies, Harbor not only opens the door to entities with combined market caps exceeding $1 trillion of purchasing power, but places Harbor in a first mover position of adoption,” Sterling Griffin, President and CEO, noted in the release. “... Our clear objective is to drive shareholder value while acting as the thought leader within our industry group.”
The company has a wide array of housing and property options coming to market.