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Dogecoin Can Now Be Used to Buy luxury Apartments in Portugal
Dogecoin Can Now Be Used to Buy luxury Apartments in Portugal

Dogecoin (DOGE) has hit yet another landmark as it can now be used to buy diverse luxury apartments in Lisbon, Portugal. 

The popular meme cryptocurrency that began as a joke and an asset for TikTok speculators to place bets on can now buy Condos in Portugal as a luxury penthouse in the country is up for sale for 5 million DOGE which is roughly estimated to sit at about $2.2 million. 

This recent event surfaced after FNTX capital Suisse, Zug-based cryptocurrency payments and OTC liquidity provider clamped into partnership with Portugal-based estate developer, 355 Developments to present condos in exchange for cryptocurrencies in the capital. 

With a current listing of three properties on the exchange, with the most affordable being a two-bedroom apartment for 1.5 million Dogecoin the partnership will enable interested individuals to buy properties using either Dogecoin, Bitcoin, Ethereum or Cardano through the FNTX’s “Real Estate Exchange”. The penthouse which is the most expensive property in the exchanges’ listing is valued at 5 million Dogecoin, roughly about 2.2 million USD. 

Dogecoin has been performing well this year as reports from CNBC has mentioned that the joke cryptocurrency has risen 26,000% in the last six months, defying all odds to sit comfortably as one of the first 10 cryptocurrencies on Coin Market Cap and Coin Gecko. The crypto has been enjoying massive support from Tesla CEO Elon Musk as he keeps making positive tweets in favour of the digital asset, recently asking followers if the coin should be accepted in exchange  for a Tesla automobile. 

Wide-spreading Desire for Crypto as a Means for Property Settlement

The increasing demand for cryptocurrencies to be used as a payment alternative for the purchase of solid properties has continued to trend as more countries and estate developers are buying into the innovation. 

A report by Yahoo Money stated that April saw a significant increase in the US as real estate sellers in America look forward to accepting crypto as payments for properties. 

“Last month, there were 71 listings that mentioned crypto or Bitcoin in their descriptions on the real estate listing site. That’s 14.3 listings per 100,000 homes, the highest rate on record, according to data”, the report explained. 

Cointelegraph has also reported on May 7 that the Art Surfside luxury apartments in Miami currently accept cryptocurrencies as payment for properties. The complex that is also home to Ivanka Trump would be accepting payments in Bitcoin, Ethereum and multi cryptocurrencies. 

This increasing trend has also been reported in the sales of properties in Dubai, Turkey, the United States and even Canada. 

Beach Club, the biggest outdoor clubhouse in Montreal has also announced plans to enable its patrons’ purchase beverages with cryptocurrencies starting next year. Beach Club owner Oliver Primeau announced in a social media post that read thus “Beachclub will officially be the first club in Canada to accept Bitcoin and Ethereum as a payment method.”

cryptoDATA 13 May 2021 cryptoTIME 2 min read
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