Mercado Libre accepts Bitcoin (BTC) as payment for real estate purchases
South America's largest e-commerce platform is offering 75 properties that can be purchased only in Bitcoin (BTC).
Fri, 30 Apr 2021, 09:19 am UTC
Latin America’s largest e-commerce site in Latin America is now allowing customers to pay in Bitcoin (BTC) some of the real estate properties listed on the platform. Mercado Libre is now offering 75 properties up for grabs via its platform.
Various industries have noted with interest the recent boom of the crypto market and have followed the recent development in the space. Real estate players in Argentina, for instance, are aware of the advantages of digital currencies in settling transactions such as security, traceability, and speed. Cryptos can even be used as a store of value asset as proven by the likes of MicroStrategy, Tesla, and Square.
“We are always attentive to the changes that occur in the market,” explained Juan Manuel Carretero, Commercial Manager of Vehicles, Real Estate, and Free Market Services of Mercado Libre, according to the company’s blog post. “Bitcoin offers multiple advantages for real estate operations, both for the buyer and for the seller.”
Joining the trend, Mercado Libre just launched a new section in the platform showcasing a select group of real estate properties located in Argentina. The catch is that these properties can only be purchased using crypto such as Bitcoin (BTC)
The listings on this newly created section on the platform include 75 properties from 7 different real estate firms. These include houses, apartments, lots, and townhouses located in the City of Buenos Aires, Santa Fe, Greater Buenos Aires, and Cordoba.
Carretero said that while 75 properties being offered might appear small compared to the entire real estate market, the trend of using crypto to buy real estate could accelerate over time. “Today we launch the crypto section within Mercado Libre Inmuebles and in a few hours there are already 75 properties available,” he added. “We expect many more as the days go by because far from being a fad, we see that it is a trend that will consolidate over time.”
Mercado Libre is the largest online marketplace and the second largest company in South America, according to Cointelegraph. It is present in 18 countries including the region’s largest three economies – Argentina, Brazil, and Mexico – and is valued at around $81 billion.
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