In an effort to modernize and become a bigger player in the real estate market, New York City-based Brookliv has begun to accept bitcoin as a form of payment.
Brookliv’s owner, Ari Weber, has stated that he hopes bitcoin will help them attract more young clients. The ability to predict new trends in an ever-changing market is another reason they decided to make that move.
“The market is changing, whether we like it or not. We foresee the norm will be cryptocurrencies being used for rental market and beyond in the near future,” Weber says.
Allowing tenants to pay for rent in bitcoin is a calculated risk, as there is still a chance that bitcoin could crash at any moment. Weber states that this is a negligible risk, as bitcoin has largely stabilized around $13,500. He believes that attracting new tenants that want to pay in bitcoin is worth the small losses he’ll take if bitcoin dips slightly.
“We can take a little bit of a hit if it does dip, but it’s worth it,” Weber added.
This is no doubt a big step forward for owners of the cryptocurrency, as many mainstream vendors still do not take it as payment, but this is proof that it is becoming more widely accepted.