Experts Believe Cryptocurrency is Expected to Revolutionize the Future of Real Estate Transactions
- FinancialNewsMedia.com News Commentary -
PALM BEACH, FL, Nov. 9, 2021 /PRNewswire/ -- More and more real estate transactions are being purchased, listed and sold with Bitcoin, Ethereum and other cryptocurrency as they become more popular and socially acceptable. The real estate industry is changing dramatically as new technologies and services influence the way society completes real estate transactions. One of the emerging technologies of the last decade is cryptocurrency. The growing popularity of cryptocurrencies like Bitcoin and Ethereum has enabled some individuals to sell or buy a house with cryptocurrency as the sole medium of exchange. Buying a home with cryptocurrency like Bitcoin is becoming more common. In fact, some believe that cryptocurrency will revolutionalize the future of real estate transactions. A recent article on real estate said about this new surge: "Bitcoin is known as the first and most stable decentralized cryptocurrency in the world. As this currency is exchanged between parties, a block of information is added to a publicly viewable chain of data that keeps a record of all transactions made via blockchain technology. Ethereum is another form of cryptocurrency that uses smart contracts to complete transactions. For instance, a smart contract will state that when a consumer pays the supplier a set amount of Ether tokens, the supplier will provide the consumer with a product or service. These transactions are also public. Active Companies in the markets today include Gaucho Group Holdings, Inc. (NASDAQ: VINO), Grayscale Bitcoin Cash Trust (OTCQX: BCHG), Coinbase Global, Inc. (NASDAQ: COIN), the AdvisorShares Sage Core Reserves ETF (NYSE: HOLD), Argo Blockchain plc (NASDAQ: ARBK).
The article continued: "Bitcoin and other popular cryptocurrencies like Ethereum are being used to purchase real estate all over the world. From home services to purchases and sales, the industry is exploring various ways to use cryptocurrencies. Property buyers are now paying with cryptocurrencies while sellers have the option to accept the digital currencies directly or have them converted into USD. The power, openness and security of the blockchain are also being explored by industry stakeholders as a viable option for recording property titles and transfers during the sales process. Another advantage in using cryptocurrency to purchase or sell a home is that the transaction can be completed and the closing on the property can be finalized in less time than a traditional real estate sale funded by a bank… Cryptocurrency and real estate transactions are quickly becoming more common as buyers and sellers responsibly take advantage of this safe, secure and swift finance option. Some believe Bitcoin, Ethereum and other types of cryptocurrency and real estate are a powerful combination that will shape the industry for years to come."
Gaucho Group Holdings, Inc. (NASDAQ:VINO) BREAKING NEWS: GAUCHO GROUP HOLDINGS ANNOUNCES FIRST VINEYARD ESTATE LOT SALE IN CRYPTOCURRENCY - Algodon Fine Wines, a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods & accessories, today announced its luxury residential vineyard real estate project, Algodon Wine Estates, had completed its first lot sale utilizing cryptocurrency.
Cryptocurrencies, decentralized digital currencies void of a central bank or single administrator, can be transferred from user to user on the peer-to-peer cryptocurrency network without the need for any intermediaries. Transactions are verified by network nodes through cryptography, and recorded in a public distributed ledger called a blockchain.
"This is an exciting development at Algodon Wine Estates," said Scott Mathis, CEO & Chairman of Gaucho Group Holdings. "The acceptance of digital currency as a medium of exchange continues to gather momentum as, among other causes, investors across the globe witness the impact of central bank actions on currency valuations and as a result are seeking alternative stores of value. At the same time, investors are beginning to recognize the opportunity for diversification that luxury real estate in Argentina presents.
"This cryptocurrency-based transaction represents the first of what we believe could be many more such transactions as some cryptocurrency holders look to deploy some of their holdings into various hard assets around the world. As the world continues to emerge from the pandemic, we have expected to see a resurgence in interest from traditional investors and luxury buyers in Algodon Wine Estates. The addition of investors utilizing cryptocurrency as a medium of exchange could expand that investor base significantly, to the benefit of Gaucho Holdings."
Global investors also have a unique opportunity at Algodon Wine Estates, where in addition to luxury vineyard ownership, investors can access a combination of world class wine, wellness, culinary and sports destinations. Gaucho Holdings recently completed its first water well, and has begun drilling a second well, in what the company ultimately believes may potentially add up to six additional wells, significantly enhancing the appeal and ultimately the value of plots at the Estates.
Algodon Wine Estates is a 4,138 acre (1,675 ha) world-class wine, wellness, culinary and sport resort, and luxury real estate development, located in the rolling hills of the Sierra Pintada Mountains in San Rafael, Mendoza, Argentina. This wine and golf community is surrounded by the natural beauty of vineyards, which are responsible for producing the wines of Algodon Fine Wines, as well as a boutique hotel, and amenities such as a nine-hole golf course (with an additional nine holes forthcoming), grand slam style tennis courts, a year-round restaurant serving traditional Argentine cuisine, and other services. More than 100 vineyard lots overlook the golf course, and the wines cultivated at the estate have garnered multiple awards from international tasting competitions. CONTINUED… Read this full release for Gaucho Group Holdings at: https://www.gauchoholdings.com/news/press
Other recent developments in the markets include:
Grayscale Bitcoin Cash Trust (OTCQX: BCHG) Grayscale Investments ®, the world's largest digital currency asset manager, recently announced that NYSE Arca has filed Form 19b-4 with the Securities and Exchange Commission (SEC) to convert Grayscale's flagship product, Grayscale® Bitcoin Trust (OTCQX: GBTC), into a Bitcoin Spot ETF. The move comes on the heels of the SEC's clearance of a Bitcoin Futures ETF.
"Since 2013, the Grayscale team has worked tirelessly to build the world's largest, most transparent Bitcoin investment vehicle, GBTC, while partnering with policymakers and regulators to build familiarity and trust in Bitcoin, blockchain, and the underlying Bitcoin market," explained Michael Sonnenshein, CEO of Grayscale Investments. "In becoming the first crypto SEC reporting investment vehicle, GBTC has helped move the entire digital currency ecosystem forward. As we file to convert GBTC into an ETF, the natural next step in the product's evolution, we recognize this as an important moment for our investors, our industry partners, and all those who realize the potential of digital currencies to transform our future."
Coinbase Global, Inc. (NASDAQ: COIN) recently announced that it will publish its third quarter 2021 shareholder letter, including financial results, on its Investor Relations website at investor.coinbase.com on Today, November 9, 2021 at approximately 1:00 p.m. PT. The Company will hold a question and answer session to discuss its third quarter 2021 financial results at 2:30 p.m. PT that same day.
Coinbase uses the investor.coinbase.com and blog.coinbase.com websites, as well as press releases, public conference calls, public webcasts, our Twitter feed (@coinbase), our Facebook page, our LinkedIn page, our YouTube channel, and Brian Armstrong's Twitter feed (@brian_armstrong) as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.
AdvisorShares, a leading sponsor of actively managed ETFs, announced recently that CS McKee, an affiliated manager of North Square Investments (North Square), will assume sub-advisor responsibilities of the AdvisorShares Folio Beyond Smart Core Bond ETF (NYSE Arca: FWDB) and the AdvisorShares Sage Core Reserves ETF (NYSE: HOLD). Effective today, both funds will be renamed. FWDB will change its ticker symbol to MENV while HOLD will maintain its current ticker symbol.
Argo Blockchain plc (NASDAQ: ARBK), a global leader in sustainable cryptocurrency mining and blockchain, recently announced its financial results for the quarter ended September 30, 2021. All $ amounts are in United States Dollars ("USD") and all £ amounts are in British Pounds ("GBP"), unless otherwise stated.
Argo generated record-setting revenue, net income and EBITDA of $26.0 million, $17.3 million and $28.2 million, respectively, for the third quarter of 2021 (£19.3 million, £12.9 million, and £21.0 million, respectively). For the nine months ended September 30, 2021, the Company's revenue, net income and EBITDA were $67.9 million, $27.1 million and $49.8 million, respectively (£50.4 million, £20.1 million, and £36.9 million, respectively).
"From breaking ground on our sustainable cryptocurrency mining facility in Dickens County, Texas to our public listing on Nasdaq in the United States, this quarter has been pivotal as Argo continues to scale," stated Peter Wall, Chief Executive Officer of Argo Blockchain. "I am proud of the growth we experienced during the quarter and believe Argo is strategically positioned to continue this momentum as we build out our Helios facility in Texas."
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