Washington-based real estate firm – Harbor Custom Development, Inc. – will reportedly start accepting digital currencies as payment for its residential homes, apartments, condominiums, and other properties as of January 24th.
According to a recent coverage, Harbor Custom Development, Inc. (Nasdaq ticker: HCDI) will embrace numerous digital assets as a means of settlement. Some of the assets include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and the self-proclaimed DOGE-killer Shiba Inu (SHIB).
Commenting on the matter was Jeff Habersetzer – Chief Operating Officer at the company:
“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.”
Harbor Custom Development sells properties in Washington; Sacramento, California; Punta Gorda, Florida; and Austin, Texas. The cryptocurrency option will be available for residents of all aforementioned states.
According to Sterling Griffin – President and CEO of the firm – the company will open its doors to an industry with a purchasing power exceeding $1 trillion by enabling digital asset payments. The initiative also “places Harbor in a first-mover position of adoption,” he added.
In April last year, one of the largest estate companies in the US – Caruso – enabled its tenants to pay rent with bitcoin, should they choose to do so. The company also invested an undisclosed amount in BTC as part of its treasury management strategy.
A few months later, Arte Surfside – a building offering deluxe properties in Miami Beach – sold one of its oceanfront condominiums for a whopping $22.5 million. The deal became the most expensive residential transaction paid with digital assets. However, it was not disclosed what type of cryptocurrency the buyer used.
Subsequently, in September, the New York-based property management company – Magnum Real Estate Group – announced it will accept Bitcoin (BTC) as a payment method for the sale of a shopping center in Manhattan. If someone decides to employ the primary cryptocurrency as a means of payment, they will break the previous record as this property is worth $29 million.