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Gafisa, a primary Brazilian real estate developer, has started taking cryptocurrency for property transactions. Bitcoin is great for real estate development enterprises, according to Gafisa's backrooms, since it eliminates intermediaries, which is a common practice in the property development market. According to a press statement, the company decided to accept bitcoin because of the technology's ability to open up new avenues for financial innovation. Through the local exchange Foxbit, the company stated that it now takes cryptocurrency. https://twitter.com/defi_daria/status/1529357347109232640
Brazil's Growing Demands For Crypto
"Bitcoin is the most valuable cryptocurrency in terms of market capitalization and the most technologically significant currency in history," stated Benevides. "It's a currency that's growing in popularity daily, which means its uses are expanding."
Gafisa accepts a variety of virtual currencies in addition to Bitcoin, including Cardano ($ADA), Ethereum ($ETH), XRP ($XRP), and Solana ($SOL). The company takes a total of 16 different cryptocurrencies as payment. Gafisa is one of Brazil's most prominent real estate developers, with one out of every 130 Brazilians living in a property built by the company. Buyers who want to buy real estate using cryptocurrencies must fill out documentation stating their intentions. The firm will thoroughly check this form before the buyer receives a wallet address. Over the last few months, Bitcoin's closing values have been declining. At seven weeks, the previous week established the most prolonged weekly fall in recorded history. Despite the upbeat mood in the market, it ended the week in the red, generating significant concern among investors.