On October 20, the day bitcoin smashed a new all-time price high, the real estate platform Pacaso announced it will be accepting cryptocurrencies via Bitpay. The CEO of the real estate firm that helps people buy and co-own a second home, Austin Allison, says the firm has seen increased crypto adoption “across the real estate industry.”

Real Estate Platform Pacaso Now Supports Crypto Payments

The firm Pacaso is a real estate platform co-founded by Spencer Rascoff and Austin Allison. Rascoff is best known for founding Zillow Group, Hotwire.com and other ventures. In October 2020, Rascoff co-founded Pacaso with Allison, and the company is considered a real estate platform that makes owning a second home easier by leveraging shared ownership. Although Pacaso’s business model resembles that of timeshare, it is also quite different.

” Pacaso is more than a timeshare. With Pacaso you have a home and not just a block. The company’s website provides details. You can book your stay throughout the year and not just annually. Is it possible to resell? It’s fast and streamlined, and you set the price.” Now the firm has decided to accept crypto assets via the Atlanta-based digital currency payment platform Bitpay.

“Digital currency and the blockchains behind them are gaining increased acceptance across the real estate sector. A crypto payment option is a frequent topic in our conversations to prospective buyers of second homes,” Austin Allison, Pacaso CEO and co-founder, said. “We’re excited to be able respond to this demand as Pacaso expands internationally to make second-home ownership accessible to more people around the world.

Bitpay CEO Sees More Crypto Transactions Made for Large Purchases, Like Real Estate ‘

The announcement detailed that Pacaso customers will be able to choose from a myriad of digital assets like bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH), dogecoin (DOGE), and wrapped bitcoin (WBTC). Pacaso clients have the option to leverage five stablecoins. Bitpay CEO Stephen Pair said that Bitpay has witnessed larger transactions in recent years, such as the purchase of homes.

” We are seeing more transactions for large purchases such as real estate, because more crypto owners want to spend their lives and enjoy crypto. “Pacaso makes a second house a reality,” Pair said on Wednesday. “The market potential for crypto is huge, with $55 billion as the estimated value of purchases consumers will make using cryptocurrency in the next 12 months.”

Pacaso claims that crypto payments will be as simple as using fiat. Clients can use their crypto assets as a down payment on their home and then finance the rest of the transaction or split the payment between fiat and crypto.

” Whether you are HODLing Bitcoin or diversifying from a DOGE-heavy investment portfolio, Pacaso can help you realize your second home dreams,” Allison said.

What do you think about Pacaso accepting cryptocurrency payments? Please comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

Read More