It has been very hard for the crypto market and all cryptocurrencies, in general, these past few weeks as the crash has started to sink in. Initiated by China’s decision of laying off all mining operations from the country and forbidding the crypto exchanges to only entertain the elite clientele, it has been rough for all cryptocurrencies these past few days. Along with all of that, Elon Musk’s tweet regarding the Bitcoin mining is having over the environment is another blow that has triggered the whole market to set in its lows right now. But a glimmer of hope presents itself as the market is finally making a return to the initial stats and the market cap also seems to be increasing rapidly.
The Real Estate Market in New York is Going Pro-crypto
Another great news is that New York has finally gone pro-crypto amid the real estate possibilities as the real estate brokerage firm Algocap real estate has already announced that they will accept cryptocurrencies for real estate-oriented purchases, including Bitcoin, Etheruem, Dogecoin, and more. Right after being acknowledged by the banking and the financial sector, the cryptocurrency is making its move into the real estate business and has received the first client willing to go above and beyond with it. According to the real estate firm, this very move is indicative of the popularity that revolves around cryptocurrency and tackling the new sector of the clients that involve some of the millionaires that have been made rich via cryptocurrency.
So, it is accepting the rising trend while at the same time cornering a possible prospective client base which is nothing short of smart. The decision is also based on the consumers who are present and want to be a part of the real estate in New York with cryptocurrency making the purchase for them. Even if the news in all of its entirety is accurate, there is still a knot that needs to be tied. The real estate agency Algocap, now the pioneer in the real estate sectors considering crypto-based payments, acknowledges that these payments are complex. And also, there is a real shortage of skillful people that can tackle the technology, but with time things will become smooth and efficient.