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Luxurious apartments in Portugal can now be bought with DOGE

Luxurious apartments in Portugal can now be bought with DOGE

Dogecoin (DOGE) is mostly seen as a meme coin or cryptocurrency popular mainly among TikTok speculators, but now even the most luxurious apartments in Lisbon can be bought with DOGE.

Zug-based FNTX Capital Suisse, the provider of crypto payments and OTC liquidity, has partnered with Portugal-based real estate developer 355 Developments. Through this collaboration, luxury apartments are now offered in exchange for cryptocurrencies in the Portuguese capital. Through this collaboration, people looking for a new home can now buy apartments with Dogecoin, Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA) through FNTX's real estate exchange, which continuously updates house prices based on price movements in relevant cryptocurrencies. Currently, there are three houses for sale on the exchange. The cheapest is a two-bedroom apartment for sale for 1.73 million DOGE, which currently has a value of about $690,000. At the top of the list of three is a penthouse priced at DOGE 5.5 million, which is currently worth about $2.2 million.

More and more homes can be bought with crypto

Yahoo Money reports that April saw an increase in U.S. sellers willing to accept crypto payments for real estate:
"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 ever, according to the data."

On May 7, it was also announced that Miami's Arte Surfside luxury condos are now accepting payment for real estate in multiple cryptocurrencies, including Bitcoin and Ethereum. The complex is home to Ivanka Trump.

Beach Club

Crypto payments are on the rise. On May 12, Montreal's largest outdoor venue "Beach Club" announced that guests will be able to purchase alcoholic beverages with crypto starting next year. Beach Club owner Olivier Primeau said in a social media post: "Beach Club will officially be the first club in Canada to accept Bitcoin and Ethereum as a form of payment." However, the post was not very detailed about how the 100,000-seat capacity venue would actually accept crypto payments. The owner only said that "different platforms" are being considered for launch in 2022. It seems that part of the reason companies are eager to accept crypto payments has to do with getting free publicity, but also with the future of the digital economy.

Ultimately, cryptocurrencies won't be able to be used on a truly massive scale until groceries and birthday presents can be paid for with crypto as well, but that path has already been created and it now seems more like a matter of time.

Luc Smits van Oyen
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