The millionaire investor Barbara Corcoran, said that buying a home with the famous virtual currency is the future itself. These are very positive comments coming from mainstream media amid a bear market that started in December 2017.

Bitcoin is the Future

During an interview with Money, Mrs. Corcoran said that buying and selling properties for cryptocurrencies makes sense and it is ideal for the real estate industry. The Shark Tank star worked as a real estate agent and made important fortunes with it. According to her, Bitcoin and crypto-related sales will become a common phenomenon in the coming years. 

She has also said that the adoption of these virtual currencies in the real estate industry will be related to the peer-to-peer feature that removes third parties from all the transactions. And about this topic, she said that the banking system is becoming obsolete due to the increased usage of cryptos.

She commented on banks and financial institutions:

“I really don’t expect banks to be around 10 years from now unless they change their model. I don’t see why it’s going to be needed if Bitcoin does what I believe it’s going to do.”

But Corcoran has also marked that there is high volatility in the market, which needs to be solved.

“I could agree, this week, that that unit is worth $3 million,” she says. “If by next Thursday, the bottom falls out and [bitcoin] is worth $2 million, that $3 million agreement is useless.”

At the moment there are different sites that are working with virtual currencies buying and selling homes and properties. At UseTheBitcoin we wrote that the real estate industry is growing among virtual currency enthusiasts. It is not necessary to depend on any other third party and the transactions happen almost instantly. Good for big amounts of funds which need to be transacted as fast as possible.

At the same time, some countries have already Facebook groups where individuals can buy and sell properties for BTC and other virtual currencies in the market.