A few years ago, only 1% to 2% of all forms of money used in the US was physical dollars or coins. Today, it is likely that percentage has dropped even lower as more people rely on credit and debit cards, crowdfunding platforms, and cryptocurrencies to buy and sell goods, services, and assets. It was estimated two years ago that 180 different national currency systems used around the world. The British Pound being the oldest currency used today and there is talk today of the replacing of the U.S. dollar and other national currencies with the IMF. A global currency called Bancor.
However, Bancor has not been fully established yet, and the currency everyone is talking about is cryptocurrency. On January 3, 2018, the total combined market capitalization value of all global cryptocurrencies reached an all-time high of over $700 billion dollars. Before this, the market cap was a $654 billion reached on December 21, 2017.
The best cryptocurrency around the world is Bitcoin. The price for a share has been fluctuating, especially now because of the pandemic, but as a percentage of global dominance— Bitcoin is still the top ranked most valuable cryptocurrency. How does this relate to Real Estate?
Real estate values far exceed all other combined values of physical and digital currencies, stock markets, gold, and bank account deposits globally. It would be a natural transition for people with cryptocurrency to take that wealth and put it into real estate as a way to diversify their financial holdings.
Many investors have made a fortune from their share prices flying up the graph. Propy, the online market that trades cryptocurrency for real estate has handled the very first real estate closing using blockchain currency in Vermont. The scope of use for this app is spreading. As an international real estate market, they have closed transactions in Ukraine and are hoping to use their system for deals in California and Dubai. This interesting intermingling of two very valuable assets in the world right now is an intelligent business endeavor headed by Natalia Karayaneva, the CEO of Propy.
Cryptocurrency continues to evolve. Real estate has always been one of the best investment choices, cryptocurrency is making its way up there. Bitcoin being the big fish. Reaching a whole 95.96% of all cryptocurrencies held in 2013, and competition keeps coming in. The market for cryptocurrency is flooding in, giving many of us prime opportunities to get into the business. The top 10 largest cryptocurrencies by Market Cap size, in order as of March 2018, Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, NEO, Cardano, Stellar, EOS, and Monero. There are more up and comers since then of course, so keep your eye out— And definitely keep your eyes on Propy. As cryptocurrency continues growing and real estate bounces back from the world’s lockdown, investors should keep their eye on the very big profits that could come out of this.