Palm Beach, FL –December 8, 2021 – FinancialNewsMedia.com News Commentary – The real estate industry is rapidly changing dramatically as new technologies and services influence the way society completes real estate transactions. One of the emerging technologies of the last decade is cryptocurrency. The growing popularity of cryptocurrencies like Bitcoin and Ethereum has enabled some individuals to sell or buy a house with cryptocurrency as the sole medium of exchange. Buying a home with cryptocurrency like Bitcoin is becoming more common. In fact, some believe that cryptocurrency will revolutionalize the future of real estate transactions. A recent article from UpNest on real estate discussed this new rise of cryptocurrency into real estate, saying: “Cryptocurrency has been increasingly making its way into real estate transactions in various ways. One of the most visible ways that bitcoin has been showing up in real estate is through home listings. Several sellers and agents have been using this tactic to create more buzz and attention for their properties. Some sellers have insisted on all bitcoin. Others have asked for payments split between US dollars and bitcoins. This may work well for high end house listings where the most likely buyers may have and want to use their bitcoins for real estate. This appears to be an increasing trend as many have enjoyed big wins in cryptocurrency and are looking for a way to balance that and preserve their gains by converting them into tangible real estate assets.” Active Companies in the markets today include Presidio Property Trust, Inc. (NASDAQ: SQFT), Coinbase Global, Inc. (NASDAQ: COIN), Sphere 3D Corp. (NASDAQ: ANY), Canaan Inc. (NASDAQ: CAN), Robinhood Markets, Inc. (NASDAQ: HOOD).
UpNest continued: “There are also physical cryptocurrency exchange offices and stores. More of these may be franchised and pop up to increase traction in the market, and build trust with those slow to adopt the currency or who want to do business in person, offline. For owners and operators of these commercial properties, cryptocurrency could become a real estate business much in the way that Mcdonald’s is. Cryptocurrency has been hot. Despite recent issues with crazy value fluctuations people still believe in it, and that it is the future. Digital currencies have many applications in real estate, with many potential benefits for promoters, investors, individual buyers, sellers, renters, and the market itself.”
Presidio Property Trust, Inc. (NASDAQ: SQFT) BREAKING NEWS: Presidio Property Trust Announces Acceptance of Cryptocurrency for Tenant Payments – Presidio Property Trust, Inc, an internally managed, diversified real estate investment trust, today announced acceptance of cryptocurrency as a valid form of payment for tenant rental and CAM (common area maintenance) charges.
“We are now set up to accept a number of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Litecoin (LTC), from our commercial tenants,” said Jack Heilbron, President and Chief Executive Officer.
“We believe that these additional payment options will be attractive to some of our current and prospective tenants, especially in new, expansion markets,” added Gary Katz, Senior Vice President of Asset Management. “This is another way that Presidio Property can differentiate itself as a forward-thinking landlord.” CONTINUED… To Read This Full Press Release for Presidio Property Trust Please Visit: https://presidiopt.com/press-releases/
Other recent developments in the real estate industries include:
Coinbase Global, Inc. (NASDAQ: COIN) recently announced the pricing of $1.0 billion aggregate principal amount of its 3.375% Senior Notes due 2028 (the “2028 notes”) and $1.0 billion aggregate principal amount of its 3.625% Senior Notes due 2031 (the “2031 notes” and, together with the 2028 notes, the “notes”) in its previously announced private offering (the “offering”). The aggregate principal amount of the offering was increased from the previously announced offering size of $1.5 billion due to market interest.
Interest on the notes will be payable in cash semi-annually in arrears, beginning on April 1, 2022, at a rate of 3.375% per year, with respect to the 2028 notes, and at a rate of 3.625% per year, with respect to the 2031 notes. The 2028 notes will mature on October 1, 2028, and the 2031 notes will mature on October 1, 2031, in each case unless earlier repurchased or redeemed. The notes will be fully and unconditionally guaranteed by Coinbase, Inc., a wholly owned subsidiary of Coinbase. The notes and the related guarantee will be Coinbase and the guarantor’s general unsecured senior obligations.
Sphere 3D Corp. (NASDAQ: ANY), a company delivering containerization, virtualization, and data management solutions, recently reported financial results for its third quarter ended September 30, 2021.
“It has been an eventful quarter and fiscal 2021 to date for the Company. We have successfully pivoted to the cryptocurrency mining industry with the purchase of our first 60,000 miners, capable of producing 6 exahash of capacity, with the company receiving confirmation that the first batch of machines will ship next week. In addition, we have secured an agreement with Gryphon Digital Mining to have Core Scientific host and manage about 230 megawatts of bitcoin mining capacity, which covers over 71,000 bitcoin mining machines,” stated Peter Tassiopoulos, CEO of Sphere 3D, adding, “This year has also seen us complete financings in the first nine months of this year that have bolstered our balance sheet by providing in excess of $200 million of cash and a significantly increased financial flexibility to grow our business. We also sponsored our first SPAC, Minority Equality Opportunities Acquisition which successfully closed on an upsized $126.5 million IPO during the quarter.”
Canaan Inc. (NASDAQ: CAN), a leading high-performance computing solutions provider, recently announced that it has secured a follow-on purchase order from HIVE Blockchain Technologies Ltd. (“HIVE”), for 6,500 units of its next-generation Avalon Bitcoin mining machines.
This new order by HIVE follows the two recent purchases of 4,000 units and 6,400 units of Canaan’s Avalon Miners in August 2021 and January 2021, respectively.
Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, “The additional purchase order from HIVE further strengthens our working relationship. The consecutive deals are not only a testament to the quality and performance of our mining machines, but also demonstrate our effective client relationship-building efforts. We will continue to position ourselves as an important partner for HIVE as they accelerate their business growth. With our next-generation Avalon Miners as well as our quality on-site and off-site support, we are confident to achieve greater success with our clients in the crypto-mining field.”
Robinhood Markets, Inc. (NASDAQ: HOOD) and Citadel Securities won dismissal of a proposed class-action lawsuit brought by retail investors who accused the firms of colluding during January’s meme-stock frenzy.
U.S. District Judge Cecilia Altonaga in Miami said that the plaintiffs failed to show there was any agreement between Citadel Securities and Robinhood to act in concert. In a Wednesday ruling, she dismissed the case without prejudice, giving the investor group until Dec. 20 to possibly file an amended complaint.
The lawsuit alleged that Citadel Securities amassed a substantial short position in GameStop Corp. and other stocks that exploded in value, and that the market-maker pressured Robinhood to stop customers from purchasing those shares, which the online brokerage did on Jan. 28.
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