Developer of the World's Tallest Building Refutes Claim About Accepting Bitcoin

Emaar Properties PJSC, a real estate development firm in the United Arab Emirates popularly known for its tallest building in the world, Burj Khalifa has denied the claim that it is accepting bitcoin and other cryptocurrencies. This news puts to rest an earlier report on blogs on February 19 stating that the firm is now accepting virtual assets for payments.

Real Estate Development Firm Refutes Claim

According to Bloomberg, Emaar has refuted the claim that the company is accepting bitcoin and ethereum. A spokesperson for the company outrightly stated that Emaar does not accept cryptocurrencies. They added that the only currency the company accepts is those issued by the government such as the U.A.E dirham and U.S. dollar.
Prior to the news, some websites had reported that the company has added digital currencies to its payment method. One of the blogs outlined that a leaked email which was publicized on Twitter showed a screenshot of the message regarding the acceptance of virtual assets. The blog further stated that the email read:

We are pleased to announce now that all customers will be able to buy Emaar Properties using digital currencies (Bitcoin and Ethereum)

Part of the email also said transactions involving virtual assets will be made possible through Bitcoin Suisse, a digital asset broker that is based in Switzerland.

Emaar Developed the Tallest Building in the World

Emaar, on the other hand, is known for its tallest building in the world, Burj Khalifa which is based in Dubai. Reportedly, the company in 2018 was able to hand over 51,800 residential units. They are currently handling 29,800 residences in the UAE while 17,500 units are under development in other parts of the world.
Based on this, Emaar is a reputable company whose acceptance of virtual assets would have been enough to spur another wave of excitement among cryptocurrency enthusiasts. In December, Dash had also announced that KFC fast foods in Venezuela will be accepting its virtual asset. The claim was, however, later refuted by KFC who said they have not finalized plans with the company.

More Businesses Around the World Accept Virtual Currencies

Despite this, it is worthy to note that other reputable businesses around the world are adopting either bitcoin, ethereum or dash. BTCNN on February 1 informed that Wikipedia has started receiving Bitcoin cash for donations. The online resource revealed that users had made suggestions for more virtual currencies to be adopted.
In the same vein, food portals around the world are accepting bitcoin as a method of payment. This is the case of, the largest German food portal that caters to over 13,000 restaurants in the country.

Related posts
Banking RegulatorBinance.usBitcoin.comBlake PaulsonBrian BrooksCatherine ColeyCoinbaseCryptoCrypto ComptrollerExchangesNewsOCCOffice of the Comptroller of the CurrencyregulatorUS Binance

Former Comptroller of the Currency Brian Brooks to Lead Binance’s US Trading Platform

A former top regulator and acting head of the U.S. Comptroller of the Currency, Brian Brooks has been appointed the CEO of crypto exchange Brooks will lead the exchange on May 1st and replace the company’s current lead, Catherine…
AltcoinsAnalysisHideCryptopanicNewsNews 1Trading View

Cardano Price Analysis: 20 April

Cardano’s price has seen rangebound price movement for more than a month. While the surge that took place at the start of February did seem promising, the coin hasn’t been able to replicate such uThe post Cardano Story continues on…
AltcoinsAnalysisHideCryptopanicNewsNews 1SocialTrading View

Uniswap Price Analysis: 20 April

A lot of the gains Uniswap was able to register in the past month were undone as bearish pressure overwhelmed the crypto market a few days back. While many of the altcoins were quick to recover, UNI?The post Uniswap Story…