The Magazine for Asian Investors
Bitcoin fans see Bitcoin as the ultimate decentralized currency that is an alternative to centrally managed government currencies. Therefore, the Bitcoin community should be happy to see that Bitcoin is gaining more and more acceptance. Besides individual shops where you can buy food or other consumer goods with Bitcoin, to countries that accept Bitcoin as a legal tender, it is exciting to see that real estate can now be purchased with Bitcoin as well.
Thailand’s Bitestate offers the possibility to buy real estate with Bitcoin. The Bangkok-based company’s website states “Now you can buy real estate with bitcoin in Thailand! Choose from dreamy properties beginning from cozy apartments, beach houses, to luxurious island villas for the worthy investment of Bitcoins. Bitestate is your one-stop destination to buy property with bitcoin in Thailand including all the major cities like Bangkok, Pattaya, Chiang Mai, Phuket, etc. “
According to the company, Bitcoin and cryptocurrencies are taking the world by storm and offer an alternative payment method without the administrative hassle of using fiat currencies.
The crypto offensive in Thailand is taking on larger proportions. A number of young people in Thailand have already left their jobs in traditional industries and turned to the digital industry. This is matched by the acceptance of cryptocurrencies in major establishments such as The Mall.
The crypto industry in Thailand also made headlines last year after one of Thailand’s largest financial institutions Siam Commercial Bank (SCB) bought into crypto platform BitKub. SCB is said to have acquired 51% of the shares in the leading crypto platform in Thailand. This can be seen as a sign that cryptocurrencies are also attracting the attention of traditional financial institutions in Thailand. Critics saw this step, however, critically, because thereby the actual sense of cryptocurrencies, an alternative to the conventional financial system, is no longer given.
This ultimately speaks again for Bitcoin, because Bitcoin is the only decentralized system. Other cryptocurrencies can adjust supply, as seen several times in the past. In addition, Bitcoin’s security is based on the proof-of-work system. This is also a factor that shows that Bitcoin is not like other cryptocurrencies.