Photo: Getty Images
Could cryptocurrency be the next big thing in real estate? Many more individuals are using the currency to strike some real estate deals, reported ABC 15.
Ben Hudye, chairman of the Scottsdale-based real estate company, Hudye Group, said, "I think we're breaking new ground here."
Hudye, along with local real estate agent Johnathon De Young of Russ Lyon Sotheby's, recently made the announcement that they are selling four luxury condos in Scottsdale. Each one will have the option to be bought with cryptocurrency.
De Young said, "(Hudye} realizes bitcoin, Ethereum, and digital assets, in general, are becoming a mainstream asset class."
Hudye says he still has a lot to learn about the currency but thinks he will see it a lot more in the future. He said, "On a scale of one to 10, I probably had a knowledge of about two, 45 to 60 days ago. Today, I'd like to think I'm at a six so I'm still not an eight or nine where I'm well-versed in it but it's exciting."
One Sedona resident, Ryan Nichols, used Bitcoin to purchase his home. He admits that part of purchasing the home for $2 million with bitcoin was partly to prove that cryptocurrency is a viable option. Nichols said, "You know, bitcoin is like any other asset whether it's stock, bonds, gold, or silver."