Here’s the scenario: You're a newly minted bitcoinaire after the cryptocurrency's dramatic run-up, and now you want to diversify your cryptoasssets.
Real estate is a good way to diversify your investment into something tangible, but you don’t want to go through the hassle of transferring your investments to fiat currency.
Propy is a new real estate platform where you can buy property entirely online — and it's potentially a good outlet for quickly transferring bitcoin wealth into hard assets.
“To [bitcoin or ethereum users], holding just crypto is like holding everything in one basket, so users are looking to diversify through purchases like real estate. They will use us because it's an easier way to diversify their investment and use cryptocurrency right away,” Propy CEO Natalia Karayaneva told Benzinga.
The Menlo Park, California-based company said it's the first to close a sale a real estate sale on the blockchain in October in the Ukraine; it was the first peer-to-peer cryptocurrency payment for real estate and ownership transfer on blockchain approved by a government. The company now has its eyes on the California real estate market.
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