{"id":4114,"date":"2024-06-11T08:38:36","date_gmt":"2024-06-11T12:38:36","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=4114"},"modified":"2024-06-16T09:59:06","modified_gmt":"2024-06-16T13:59:06","slug":"luxury-homes-bitcoin-bros-and-the-rest-of-us","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/luxury-homes-bitcoin-bros-and-the-rest-of-us\/","title":{"rendered":"Luxury Homes, Bitcoin Bros\u2026 And the Rest of Us"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Love it or hate it, there\u2019s one thing that\u2019s hard to deny. Bitcoin\u2019s enjoying a highly successful year. The launch of bitcoin exchange-traded funds (ETFs) has so far been a resounding success for Wall Street\u2019s financial powerhouses<\/a>. BlackRock alone has accumulated $20 billion in bitcoin, just in the last three months since the firm opened its ETF.<\/p>\n\n\n\n

And with institutional adoption surging, bitcoin\u2019s market value has surged as well.<\/p>\n\n\n\n

Extra wealth emboldens people to spend more. So, how does this impact the real estate market? By opening new pathways for buying, as people dip into their crypto stashes to buy or renovate homes. Just think. Behind every $5,000+ withdrawal from a crypto account over the past five years, one in 20 of those account holders became a first-time homebuyer.  <\/p>\n\n\n\n\n\n\n\n

Finance Researchers Connect the Dots<\/h2>\n\n\n\n

In March, the Federal Deposit Insurance Corp. received findings from a study led by university researchers. The study examined three years\u2019 worth of financial data for a population of 60 million people.<\/p>\n\n\n\n

The study found home prices especially elevated in counties with relatively high populations of crypto holders.<\/p>\n\n\n\n

The researchers were also able to pinpoint withdrawals of $5,000+ from crypto platforms. They examined five years\u2019 worth of these transactions \u2014 between 2018 and 2023. And they found a notable  connection\u2026<\/p>\n\n\n\n

\u201cFor every household that withdrew $5,000 from their crypto exchange account,\u201d said Jason Kotter, a finance professor at Brigham Young University, \u201cOne in 20 bought a house for the first time,\u201d<\/p>\n\n\n\n

Real Estate Experts, Take Note<\/h2>\n\n\n\n

People in real estate today are likely to run into customers who hold bitcoin or other digital assets\u2014either as direct investors, or people whose retirement accounts hold these assets.<\/p>\n\n\n\n

Real estate professionals (and real estate customers) should keep up with the answers to questions like these:<\/p>\n\n\n\n