Bitcoin 

Real Estate Magnate Sells New York Condo for $15.3M in Bitcoin

Real estate tycoon Ben Shaoul has sold a retail condo in Manhattan’s prestigious Upper East Side for $15.3 million in Bitcoin (BTC). The news was reported by New York real estate magazine The Real Deal on Nov. 1. Shaoul — who is president of the Magnum Real Estate Group — sold the 11,400-square-foot property to a Taiwan-based entity “Affluent International LCC,” according to a person familiar with the deal. Luxury properties increasingly bought and sold for BTC While Shaoul himself has reportedly declined to comment, Eric Hedvat — a broker…

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Bitcoin 

Bitcoin ‘Is Not Real,’ Says Former European Central Bank Chief

Bitcoin (BTC) lacks the characteristics of a currency and is purely speculative, according to the European Central Bank’s former president Jean-Claude Trichet. Chinese news outlet South China Morning Post reported on Nov. 10 that Trichet made remarks at Caixin’s conference in Beijing. “I am strongly against Bitcoin” During the event, Trichet also expressed doubt that cryptocurrencies could ever become the future of money. He said that Bitcoin lacks the characteristics of a real currency: “I am strongly against Bitcoin, and I think we are a little complacent. […] The currency…

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Bitcoin 

Cryptocurrencies Like Bitcoin are Not Real Money: German Parliament

Cryptocurrencies such as Bitcoin (BTC) are not real money, according to a statement published by the German federal parliament on Oct. 28. Not a payment vehicle, not a store of value Per the announcement, the assets offered by the current cryptocurrency landscape — such as Bitcoin — provide only a very limited portion of the features expected of traditional money. The statement – titled “Crypto tokens are not real money” – is based on an answer provided by the German federal government to a question from the Free Democratic Party…

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Bitcoin 

UK Real Estate Firm Accepts Bitcoin for Sale of 150-Year-Old Church

A 150-year-old English church is being sold for $1.5 million with the vendor accepting payment in Bitcoin (BTC). Vendor is willing to receive payment in Bitcoin According to a listing on Rightmove, a major British online real estate portal and property website, a vendor put an 18th-century church converted into a seven-bedroom character property up for sale and is willing to accept Bitcoin as payment. While the property unit is priced at 1.2 million British pounds ($1.5 million), the final price in Bitcoin is to be agreed and confirmed with…

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Blockchain 

Real Estate, Blockchain and the Quantity Theory of Money

The concept of illiquidity discounts, how it relates to markets like commercial real estate, and the benefits that tokenization could bring to the industry are topics that I have already discussed in previous articles. In this article, I am taking a closer look at the relationship between liquidity preference and the future demand for tokenized real estate investments. Related: Tokenizing Commercial Real Estate and the Promise of Liquidity Illiquidity discounts reflect the reduction in price that gets applied to an asset due to a shallow market and are particularly pronounced…

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Blockchain 

AssetBlock Tokenizes $60M of Real Estate on Algorand’s Blockchain

Blockchain real estate investment firm AssetBlock launches its commercial real estate investment platform on Algorand’s (ALGO) blockchain. According to an AssetBlock press release published on Sept. 17, the firm partnered with luxury hotel asset manager Lodging Capital Partners (LCP) to tokenize $60 million of exclusive hotel properties on Algorand. Opening real estate investment to everyone As a result of the partnership, crypto-savvy investors will have access to properties that are unavailable to the public and will be able to exchange the blockchain’s native tokens for those assets.  CEO and founder…

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Blockchain 

Harbor Tokenizes $100 Million in Real Estate Funds on Ethereum Blockchain

The startup Harbor announced a partnership with Seattle-based real estate investment firm iCap Equity to tokenize $100 million in real estate funds. On Sept. 16, Harbor announced in a blog post that iCap Equity is using Harbor’s blockchain-enabled platform to improve its liquidity in four of its real estate funds which manages over $100 million in assets. Harbor created the tokens on the Ethereum blockchain, which represent portions of the funds. The partnership between the two companies will allow iCap Equity’s investors and placement agents to buy and sell iCap…

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Blockchain 

Queensland’s Real Estate Institute to Launch Blockchain Tenancy Platform

The Real Estate Institute of Queensland (REIQ) teamed up with local tech startup Igloo to launch a blockchain-based tenancy agreement platform by the end of 2019. As news outlet ZDNet reported on Sept. 15, REIQ general manager Josh Callaghan stated that the new platform will use smart contracts to create “a simple and secure transaction for each tenancy agreement to leverage the benefits of the technology as an irrefutable source of truth,” adding: “All parties will have visibility over the contract at any time from the palm of their hand.…

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Blockchain 

SK Group’s Securities Arm Teams Up With Blockchain Real Estate Firm

SK Securities, a branch of South Korea’s largest telecom SK Group, has partnered with a local blockchain firm for a digital real estate beneficiary platform. The securities operator has signed a business agreement with Kasa Korea, a Seoul-based startup developing a digital securities blockchain platform for thereal estate market, Korean news outlet Yonhap News reported on Sept. 4. SK Securities and Kasa Korea agreed to collaborate on a digital platform for distribution of real estate beneficiary securities. Based on real estate securitized beneficiaries issued by real estate trust companies, Kasa…

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Bitcoin 

Current Bitcoin Price Rally Could Have ‘Real Legs’ — Novogratz

Galaxy Digital CEO Mike Novogratz says that Bitcoin’s 2019 rally could have “real legs” given today’s turbulent macroeconomic and geopolitical landscape.  In a tweet posted on August 5, Novgoratz remarked that: “With the yuan over 7.0, an FX war, instability in HKG and the beginnings of capital flight, $Btc rally could have real legs.” ‘May you live in interesting times’ Amid a protracted trade war with the United States, China has this week redoubled its own antagonistic policies in response to recent fresh tariff threats from U.S. President Donald Trump: first,…

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