A bitcoin event in California organized by Arcadia Association of Realtors (AAR) discussed the potential implications of the cryptocurrency on the Chinese real estate market. In particular, the CEO of Meson.re, which is focused on helping mainland Chinese investors purchase real estate in the US, explained how their service plays a role in the real estate industry in general.
According to CEO Ragnar Lifthrasir, bitcoin could be used in the lucrative international real estate trade as it relates to California. “I think there’s understanding of the problem and why there’s a need in China. They immediately got it. There are two ways to buy [now], the black and the gray markets. The black market is you know someone who knows someone and the gray market is I don’t know how it works but they money gets there,” he explained.
Bitcoin and Real Estate
Chinese investors have actually accounted for 25% of all US house acquisitions by foreign buyers in the past years. These sales have involved complex workarounds, most of which can be simplified with the use of bitcoin.
As for AAR, the group has expressed skepticism about bitcoin for the time being, although it did acknowledge that the cryptocurrency could be