Recently, wealthy investors are rapidly expanding the trend of using cryptocurrencies as a means of payment to purchase homes across Europe. Nikolai Denisenko, co-founder of the cryptocurrency trading platform Brighty authorized by the Lithuanian government and former backend developer at the fintech company Revolut, recently revealed this trend in an interview with industry media CoinDesk.
Over 100 Cryptocurrency Real Estate Transactions
The cryptocurrency real estate transactions facilitated by the Brighty platform have entered a significant growth phase. According to Denisenko, his platform has facilitated over 100 direct purchase transactions with high-net-worth clients since last year. The number of clients using this service is between 100 and 150, and it has been rapidly increasing in recent months. Each transaction ranges from $500,000 to $2.5 million.
5 Countries Including Andorra as Major Transaction Hubs
The movement of real estate purchases through cryptocurrencies is concentrated in specific regions of Europe. Most transactions occur in traditional financial centers like the UK and France, but peripheral European countries such as Malta, Cyprus, and Andorra are also quickly emerging. Particularly, Andorra offers a crypto-friendly environment due to its low tax rates and regulatory environment, making it a preferred destination for high-net-worth individuals.
The main purpose of these high-net-worth investors purchasing real estate with cryptocurrencies is portfolio diversification. Clients participating in these transactions are consistently investing around $50,000 per month in European real estate. This is not a one-time transaction but part of a medium- to long-term asset allocation strategy. By combining heterogeneous asset classes like cryptocurrencies and real estate, they aim to diversify investment risks.
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High-net-worth individuals purchasing European real estate with cryptocurrencies expand transactions to Andorra
Recently, wealthy investors are rapidly expanding the trend of using cryptocurrencies as a means of payment to purchase homes across Europe. Nikolai Denisenko, co-founder of the cryptocurrency trading platform Brighty authorized by the Lithuanian government and former backend developer at the fintech company Revolut, recently revealed this trend in an interview with industry media CoinDesk.
Over 100 Cryptocurrency Real Estate Transactions
The cryptocurrency real estate transactions facilitated by the Brighty platform have entered a significant growth phase. According to Denisenko, his platform has facilitated over 100 direct purchase transactions with high-net-worth clients since last year. The number of clients using this service is between 100 and 150, and it has been rapidly increasing in recent months. Each transaction ranges from $500,000 to $2.5 million.
5 Countries Including Andorra as Major Transaction Hubs
The movement of real estate purchases through cryptocurrencies is concentrated in specific regions of Europe. Most transactions occur in traditional financial centers like the UK and France, but peripheral European countries such as Malta, Cyprus, and Andorra are also quickly emerging. Particularly, Andorra offers a crypto-friendly environment due to its low tax rates and regulatory environment, making it a preferred destination for high-net-worth individuals.
Diversification Strategy Investing $50,000 Monthly
The main purpose of these high-net-worth investors purchasing real estate with cryptocurrencies is portfolio diversification. Clients participating in these transactions are consistently investing around $50,000 per month in European real estate. This is not a one-time transaction but part of a medium- to long-term asset allocation strategy. By combining heterogeneous asset classes like cryptocurrencies and real estate, they aim to diversify investment risks.