Tucson

Cryptocurrency being used in some Arizona real estate deals – Tucson, Arizona

Tucson, Arizona 2021-10-17 19:34:55 –

Phoenix — It may sound unusual, but some believe that cryptocurrencies are the next big thing.

Ben Hudye, chairman of the Scottsdale-based real estate company Hudye Group, said:

Hudye and local real estate agent Russ Lyon Sotheby’s Johnathon De Young recently announced that they are ready to sell four luxury condos in Scottsdale and accept cryptocurrencies as payments.

“(Hudye) recognizes that Bitcoin, Ethereum and digital assets are becoming the mainstream asset class in general,” said De Young.

Currently, four condominiums are on sale. Prices range from $ 1.6 million to $ 2 million.

Meanwhile, the cryptocurrency Bitcoin has recently traded for over $ 60,000.

According to Hudye, he still has a lot to learn about the use of Bitcoin and other crypto assets, but believes he will learn more in the future.

“On a scale of 1-10, I probably had knowledge 2, 45 to 60 days ago,” he said.

“Today I want to think I’m 6 years old, so I’m not 8 or 9 years old yet, but I’m familiar with it, but it’s exciting,” Hudye said.

“It’s very exciting and you can understand why people have been involved in it for years,” he added.

Meanwhile, Sedona-based Ryan Nichols recently used Bitcoin to buy an Arizona home.

Nichols didn’t give too much detail, but he said he felt it was time to buy Bitcoin and reinvest it a few years ago.

“I think the timing was clearly right,” he said.

“When I bought it, it was about $ 54,000, and we were thinking of having another value instead of having all the cryptocurrencies,” he said.

“It was a good time to get into the market and diversify a bit,” Nichols added.

Nichols admits that part of buying his $ 2 million home with Bitcoin was to prove that cryptocurrencies were a viable option.

He said there was a lot of skepticism, but compare it to other more common assets like gold.

“Bitcoin is like any other asset, such as stocks, bonds, gold, silver, etc.,” he said.

He encourages people to start looking into it.

Luxury condominiums Officials told ABC15 that they were getting a lot of interest and inquiries.



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