by SilverBoatSurfer
Hey, remember how the crypto pumpers said these scam digital “currencies” were going to take the place of fiat currencies as a medium of exchange?
Property purchases paid for with cryptocurrency have nearly ground to a halt after their rapid expansion in recent years, in the wake of a plunge in the value of digital money.
Over the last five years, global cryptocurrency payments for residential and commercial real estate had gone from almost nothing to about US$100 million in total, according to an estimate by Kashif Ansari, co-founder and group CEO of Juwai IQI, a property technology company.
But the cryptocurrency market, like the stock market, has taken a dive this year. For example, bitcoin, the most popular digital currency, sank 58 per cent in the last six months to US$21,123 on Monday.