Entrepreneur Puts $8 Million Home for Sale in Bitcoin, Cites Belief in Cryptocurrency Adoption

  • Serial entrepreneur Alan Ezeir put his $8 million home for sale, accepting BTC as a payment method, with Canter Companies. Behind his move, he cited a belief in the long-term adoption of cryptocurrencies.
  • Canter Companies has placed two houses on the market worth over $20 million, while accepting Bitcoin as a payment method.
  • By 2015, Bitcoin has become accepted by over 100,000 merchants with more accepting it annually.

Alan Ezeir, a serial tech entrepreneur who just put his $8 million home for sale in Bitcoin, has recently revealed he sees cryptocurrencies become widely adopted in the future. Per his words, trendsetters need to show people cryptocurrencies can be used like credit cards.

In February, Canter Companies joined the ranks of real estate developers that accepted bitcoin. The company put up two properties totaling a value of under $20 million for sale. One of these properties is owned by the founder of Circle Square Capital, Alan Ezeir.

Ezeir has been an outspoken advocate for the application of blockchain technology and cryptocurrencies. Companies and entrepreneurs need to embrace the technology as it becomes increasingly applied, he claims.

The entrepreneur has been open about why he's placed such an emphasis on bitcoin by making it a currency of choice for selling his house.

“Bitcoin has created new millionaires and billionaires, and is ripe for selling goods and services to those people. It's no different than someone that just made 100 million on an IPO. Eventually, many products and services will have the option to be purchased with cryptocurrency.”

Alan Ezeir

He added that “various trendsetters” need to show people cryptocurrencies can be used to purchase things, just like credit cards. He noted that we nowadays can’t imagine not being able to use a credit card to purchase online, and believes real estate, along with other asset classes “will be commonplace to be exchanged for various liquid cryptocurrencies.”

Bitcoin has been gaining a lot of popularity and is increasingly being used, both by consumers and investors. Over 100,000 separate retailers accepted the cryptocurrency in 2015. Since then, various merchants started accepting other cryptocurrencies as well. As covered, Reddit is set to start accepting Litecoin and Ethereum payments.

Canter has become one of a few property and asset managing companies which have embraced cryptocurrency as a transaction method. While Canter allows its customers to buy properties with bitcoin, the phenomenon isn’t new. Online platforms such as Bitcoinrealestate.com also provide users with the means to buy and sell their home using cryptocurrencies, along with fiat currencies.

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Two Brazilian Crypto Exchanges Close Following Change in Tax Laws

  • Two Brazilian exchanges have been forced to close in the face of strict new regulations.
  • Exchanges are required to keep track of all transactions made with cryptocurrency or pay fines. 

Two Brazilian cryptocurrency exchanges have been forced to shut down following the enactment of new tax laws. 

Following reports of rampant cryptocurrency-related fraud in 2019, Brazilian politicians have created and enforced new tax regulations for the industry of cryptocurrency. 

According to a report by Bitcoin.com, exchanges Acesso and Latoex are two of the first casualties of the increased regulation. Both exchanges have decided to end operation, rather than pay the hefty fines and comply with strict regulation in the face of shrinking trading volume. 

Pedro Nunes, co-founder of Acesso Bitcoin, told Portal do Bitcoin, 

After the Federal Revenue Service introduced these rules we noticed a significant decrease in the traded volume. We also feel that the market has cooled off for smaller exchanges.

The new regulations, implemented in August 2019, require traders and brokerages to report all transactions involving cryptocurrencies. Failure to comply results in penalties ranging from 500 BRD to 1500 BRD ($120 - $360). 

Exchanges say that compliance with the new regulation requires expensive investment into new resources, which has been untenable for smaller and less profitable organizations.

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