A Bitcoin real estate ‘remittances’ company is aiming to free mainland Chinese citizens from capital controls and an unstable stock market by helping them buy real estate in the United States – with Bitcoin.
The venture, Meson.re, is the brainchild of Ragnar Lifthrasir, a real estate entrepreneur with over “eight years of experience including, analysis, investment tittle insurance and construction.” He is also the president of the Bitcoin real estate asosiation.
Lifthrasir told CoinTelegraph that there is great demand in China for American real estate, particularly among the middle and upper classes. However, the capital controls imposed by China are both limiting and discriminatory.
“For the very wealthy it is easy [to buy American real estate] because they have very complicated portfolios and highly paid bankers, but for the middle to upper middle class Chinese it is difficult.”
China limits citizens to US$50 thousand per person, per year which can be withdrawn from the country. With real estate going for $500 thousand to $10 million in America, this makes the purchase of a foreign home very challenging.
Lifthrasir says that there are three main ways in which the Chinese can transfer money to America.
The first is to get family and friends