Sunday, June 16, 2019

Binance’s CEO Publicizes First Live Real Estate Auction Accepting Bitcoin and BNB

Unarguably, Bitcoin and other cryptocurrencies have several use cases. A real-life application is evident in their use to purchase homes, food, jewelry, game tickets, movie tickets, and so much more. Of recent, a property in Miami which will be auctioned live can be bought with Bitcoin and Binance coin (BNB). Changpeng Zhao, Binance’s CEO also publicized its launch.

CZ Tweets About First On-site Building Auction

Changpeng Zhao (CZ) on March 10 tweeted that the world’s first live real estate aunction is accepting Bitcoin and Binance coin. The CEO also stated that the building is not owned by the Malta-based exchange, but he only likes the structure after seeing its advert page.

Nevertheless, it can be assumed that CZ’s attention was drawn to the building due to the ability to purchase it with BNB. The latter is a virtual currency that was developed by Binance, a cryptocurrency exchange. Thus, accepting BNB just takes it one step further to show that the virtual asset is also gaining massive user interests.

BNB Records an Increase in Trading Volume and Market Cap

The virtual asset of late, has recorded an increase in daily trading volume, market capitalization and price. In terms of its market cap, it had a volume of $700 million as at January, but as at press time, it is over $2 billion. The asset also opened at a price of about $6 in January but it is currently valued at about $14. Thus, it can be said to be one of the cryptocurrencies that has been unaffected by Bitcoin’s price volatility.

The house in question is called “The Jetsons”, and it is located at 1 Beech Lane, Casuarina, in northern Australia. The building will be auctioned on-site, but the process can be streamed online. Thus people all over the world can follow the process and make bidding.

Home Worth Millions to be Offered for Bitcoin

Asides being offered for BNB, it is also remarkable that the home which could be worth millions of dollars is offered for Bitcoin. The digital currency may have devalued over the past year, but several people are looking at its price in the long run. There have also been reports of homes in Turkey, Australia, and California being sold for Bitcoin.

Therefore, The Jetsons is not the first real estate property to be exchanged for the asset, but it is the first whose sale while be streamed live. One of the earliest sale of homes for Bitcoin is in 2017 where a two-bedroom unit in Miami was bought at
at 17.74 BTC ($275,000 at the time). The bby Ivan Pacheco co-founder of Bits to Freedom, a cryptocurrency portal.

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