Bitcoin and Blockchain Tech Expected to Disrupt the Global Real Estate Industry
Over the past month, Bitcoin (BTC), the world’s leader in digital cryptocurrency, has been taking over headline news around the globe – as it should – and attracting the attention of the global Real Estate market! A few weeks ago, Bitcoin surpassed a $10,000/coin valuation, and the price has been increasing as the days go by. As of this writing, the current cost of Bitcoin stands at approximately $13,000/coin and in the grand scope of things – this is only the beginning. What is even more startling is that Bitcoin, supported by an online ledger system called a blockchain, was worth less than one cent (USD) when it was publicly launched in 2009, and still less than one dollar (USD) in 2011 when it hit the mainstream. The world has not seen valuation increases this significant since the Dutch Tulip Bulb Market in the 1600s – the main difference being, that this is no bubble.
Individuals who invested small sums of money in Bitcoin’s early years are now Millionaires today. Bitcoin is not the only cryptocurrency, however – far from it. Combined, as of this writing the cryptocurrency market cap represents approximately $474 Billion dollars – and we are just seeing the beginning!
I’m not going to try to convince you either way if Bitcoin is a strong investment, or try to discuss the technical/theoretical specifics of cryptocurrency – there are thousands of articles across the internet that touch on these points. What I am going to do, however, is emphasize the implications that both Bitcoin and blockchain technology are going to have on the Global Real Estate market.