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Spanish Real Estate Agency Begins Accepting Bitcoin Payments for Properties in the Canary Islands – Bitcoin News

Spanish Real Estate Agency Begins Accepting Bitcoin Payments for Properties in the Canary Islands – Bitcoin News

Crypto adoption keeps spreading among the real estate industry in Europe, specifically in Spain. Recently, a leading agency in the Canary Islands announced it would start accepting cryptocurrency payments.

According to Digital Sevilla, Piso Barato Inmobiliaria, a Tenerife-based real estate firm, has enabled the feature that allows customers to acquire properties by paying with bitcoin (BTC).

Although they mentioned the word “cryptocurrencies,” the firm talked mostly about BTC throughout the announcement.

Piso Barato Inmobiliaria argues that a group of experts stated that bitcoin is becoming the “primary currency” of exchange globally, and thus, the firm became interested in digital assets. Future owners of properties, through the real estate agency, can purchase any property in Tenerife.

The Tenerife-based agency pointed out:

The evolution of expert agents in the real estate market has been so constant that buying a flat in Tenerife with bitcoin is currently possible. They assure that it is a positive contribution to expand the number of potential buyers internationally and give life to the sale and purchase of the real estate.

Moreover, Piso Barato Inmobiliaria praised the fact that bitcoin payments avoid tampering in the acquisition process of the properties. The agency also says that cryptocurrencies’ decentralized nature avoids any government intervention, making the process smooth.

Crypto payment adoption by the agency is part of a strategy to bolster a growing trend of the housing market in the islands, says the media outlet.

As news.Bitcoin.com reported on Feb. 26, another Spanish real estate platform, Idealista, listed its first-ever property for sale for cryptocurrency. The offer is entirely online, and whoever wants to buy the apartment in Barcelona must pay in bitcoin.

Although the first real estate transaction made in bitcoin in Spain happened in 2018, the firm clarified at the time that it was done “the traditional way.”

What do you think about the growing crypto adoption by the Spanish real estate industry? Let us know in the comments section below.

Source: cryptofinancialtimes.com

Author: Crypto Financial Times


JP Morgan Launching Crypto Investment Product Tracking Public Company Stocks With Bitcoin Exposure – Finance Bitcoin News

JP Morgan Launching Crypto Investment Product Tracking Public Company Stocks With Bitcoin Exposure – Finance Bitcoin News

JP Morgan is launching a structured investment product based on the performance of its “Cryptocurrency Exposure Basket,” which tracks stocks of publicly traded companies with exposure to cryptocurrencies. The weight of each stock is “determined based in part on exposure to bitcoin, correlation to bitcoin and liquidity,” according to the company’s filing with the U.S. Securities and Exchange Commission (SEC).

In a Tuesday filing with the SEC, JPMorgan Chase revealed a structured investment product that enables its clients to gain exposure to cryptocurrencies.

“The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC,” the company explained. The payment on which is “fully and unconditionally guaranteed by JPMorgan Chase & Co.”

JPMorgan elaborated:

The notes are designed for investors who seek exposure to the performance of the J.P. Morgan Cryptocurrency Exposure Basket (Mar 2021) of 11 unequally weighted reference stocks, which we refer to as the basket, as reduced by the basket deduction of 1.50%.

The investment bank added: “Notwithstanding the name of the basket, the notes do not provide direct exposure to cryptocurrencies and the performance of the basket may not be correlated with the price of any particular cryptocurrency, such as bitcoin.”

The reference stocks represent the common stocks of “11 U.S.-listed companies that operate businesses that we believe to be, directly or indirectly, related to cryptocurrencies or other digital assets, including as a result of bitcoin holdings, cryptocurrency technology products, cryptocurrency mining products, digital payments or bitcoin trading,” JP Morgan detailed.

They include Microstrategy’s Class A common stock, Square’s Class A common stock, Riot Blockchain’s common stock, Nvidia’s common stock, Paypal Holdings’ common stock, and Advanced Micro Devices’ common stock.

The minimum denomination for the new investment product is $1,000. The notes are expected to price on or about March 31 and are expected to settle on or about April 6.

“The weights of the reference stocks were determined based in part on exposure to bitcoin, correlation to bitcoin and liquidity,” JPMorgan further clarified. “The basket may be subject to extreme price volatility and rapid and substantial decreases in price over the term of the notes.”

The investment bank has come a long way since its CEO Jamie Dimon called bitcoin a fraud back in September 2017. The firm recently came up with three key benefits for investing in BTC after its analysts predicted that the price of the cryptocurrency could reach $146,000 as its competition with gold heats up. The firm then recommended that investors could put 1% of their portfolios in cryptocurrency.

What do you think about JP Morgan launching a crypto product? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: news.bitcoin.com

Author: Finance

by
Kevin Helms


Sorry Bulls, This Dangerous Bitcoin Fractal Cannot Be Unseen

Sorry Bulls, This Dangerous Bitcoin Fractal Cannot Be Unseen

Bitcoin price is back retesting its current all-time high above $58,000, but hasn’t been able to crack it just yet after a few attempts. However, a fractal found matching the 2019 rally has been discovered in the recent price action that simply cannot be unseen. 

Here’s a closer look at the fractal itself, and what it could suggest if the same path is followed as the last time it ominously appeared.

Bitcoin FOMO is in full effect like never before, attracting not only retail investors, but traders, corporations, hedge funds, and institutional investors. The impact these new participants have had on price appreciation thus far has been nothing short of incredible.

From a low of under $4,000 nearly one year ago today, the leading cryptocurrency by market cap has risen to a current high of more than $58,000 per coin. The price per BTC reaching such heights propelled the cryptocurrency’s total market capitalization to over $1 trillion.

But at those highs, the cryptocurrency met its first serious resistance, and has been struggling to get back above since. The most recent attempt was swatted down preemptively by bears, coinciding with the non-news that Oracle didn’t buy the BTC the community was expecting it to.

What future awaits cryptocurrencies?
GOODBAD

However, that might not be the reason for bears making a stand over the last 24 hours.

bitcoin fractal

An eerily similar looking fractal has appeared on Bitcoin price charts | Source: BTCUSD on TradingView.com

When Bitcoin left its bottom trading range at under $4,000 for the first time, the cryptocurrency almost immediately rocketed to $14,000. The uptrend ran out of steam, and eventually corrected back down to confirm the range as support on Black Thursday last year.

The current uptrend’s momentum is waning, albeit only slightly, but a fractal from the 2019 rally could indicate that Bitcoin is about to topple once more.

Both rallies started out with a more reasonable uptrend line, that eventually goes increasingly vertical. At the height of the parabola, there’s a large rejection, a failed retest, and a breakdown. This time around, Bitcoin hit $58,000 and was immediately sent crashing back down to under $50,000.

The retest has since failed, but is in the process of making another attempt. Failure here could validate the fractal and cause the cryptocurrency to drop lower to retest support levels below.

Coinciding with the comparable price action and trendlines, is a similar reading on the crypto analyst who spotted the fractal’s trading indicator. Could this be the end of the current rally for the time being?

Featured image from Deposit Photos, Charts from TradingView.com

Source: cryptonewscloud.com

Author: CNC

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