By Dayo Adesulu
Since the reception of Cryptocurrency in China as a global tender for purchase of goods and services, Chinese have seized the opportunity to massively invest in property all over the world including the United States of America.
China is a leader when it comes to exploring new technologies and embracing new ways to generate business and revenue streams for its economy. Since strategies and support come from the very top, it becomes easy for Chinese companies and their people to adopt new technologies in a short period of time. Blockchain and cryptocurrency are no different. Now, the trend has moved to investments in various industries, including real estate.
So, you might wonder what brings the Chinese, cryptocurrency, and the real estate market together. Well, the choice of investments is highly limited in China. Thus, people always look for new investment opportunities that will give the quickest possible returns. The biggest advantage of cryptocurrency is that it is not related to the Chinese government. Indeed, this is what makes crypto a good alternative option to local investments that depend on the Chinese government and economy.
Real estate is a favorite investment avenue of the Chinese. One possible explanation for large Chinese real estate investments in the U.S. is the cost of living in Beijing. Another explanation is Beijing’s pollution levels. Thus, many Chinese are looking to own homes in countries like the U.S. Certainly, the use of crypto has made it easy for the Chinese to invest in American properties.