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Marc Roberts, the co-founder of the Miami condominium complex, claims he is the first to allow cryptocurrency deposits on condos.
E11EVEN Hotel & Residences co-founder Marc Roberts claims he is the first to allow cryptocurrency deposits on real estate, telling “Mornings with Maria” on Monday that he believes “those who do not accept this will be left behind “.
The co-founder of the Miami, Florida condominium complex noted that “the enthusiasm for crypto, especially following the Miami conference, has been truly astounding.”
Roberts was referring to the Bitcoin 2021 conference, held in Miami, Florida, earlier this month, where conference organizers estimated around 50,000 people attended to talk about the rapid growth. of Bitcoin and its potentially bright future.
“I think the whole movement is towards more buyers paying in crypto and we are very happy to be the first to use cryptocurrency for real estate deposits,” Roberts said on Monday, adding that he believed that it was “a wise decision”.
“I think this will be one of our biggest decisions,” he said.
Bitcoin is hosting the 2021 conference in Miami, Florida.
Roberts noted that “we’ve had a tremendous response” and have already collected the first 10% of crypto deposits before the company announced that digital currency would be accepted.
“We are now about a month away from collecting our second 10% deposit,” he said, noting that he believes it will also be around 10-15%.
Ticker Security Last Change Change% COIN COINBASE GLOBAL 238.05 +14.13 + 6.31% BITQ EXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E 24.50 + 2.06 + 9.18%
Bitcoin and other cryptocurrencies are still not regulated within the US financial system.
Bitcoin has slipped from its all-time high of $ 64,829 to $ 40,000, but it is still up around 40% since the start of the year on Monday, according to Coindesk.
Bitcoin, along with many other cryptocurrencies, suffered drastic drops in the past month.
Investors suffered one of their biggest losses on May 19 when China announced it would ban financial and payments institutions from providing digital currency services.
The drastic drop in cryptocurrencies began when Tesla announced that it would not accept digital currency as a form of payment for their vehicles, which was a reversal from a previous announcement. The reason given was the potential environmental damage that could result from Bitcoin mining.
Tesla CEO Elon Musk tweeted on Sunday that the electric car maker would resume authorization of bitcoin transactions when miners who verify transactions use more renewable energy.
“When there is confirmation of reasonable (around 50%) clean energy use by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” Musk tweeted.
Roberts acknowledged on Monday that “there is volatility” when it comes to cryptocurrencies, but stressed that when speaking with people, especially the younger generation, “all you hear is crypto “.
“All they want to do is pay in crypto and I think those who don’t adopt it will be left behind,” said Roberts.
Marc Roberts, co-founder of E11EVEN Hotel & Residences, says those in the industry who don’t embrace cryptocurrency will be left behind.
“I don’t think it’s something that’s going to stop. I think the momentum is too strong and like anything else we are trying to be pioneers, to be [at] forefront of what’s to come and I just think the people who don’t embrace it, study it, learn it, are going to be left in the dust on cryptocurrencies. “
FOX Business’s Dagen McDowell asked Roberts if he liquidated immediately when he received a crypto deposit “to remove volatility from digital currency?”
“It’s so new and we’re studying and trying to embrace the movement,” Roberts replied.
“We deal with legal counsel, we deal with our accountants and we have a lot of meetings and we will have a real, solid game plan by the time we take our second deposits,” he added.
Ken Martin of FOX Business contributed to this report.
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