In First, Israeli Developer to Accept Bitcoin as Payment for Apartments
Nevertheless, real estate developer hedged its bet by setting a ceiling of 10 bitcoins, or no more than a quarter of the home’s price
The bitcoin phenomenon made another foray into the Tel Aviv Stock Exchange on Thursday when the publicly traded property developer Hanan Mor said it would start accepting the cryptocurrency as payment for apartments in its Ir Yamim 10 project in the central city of Netanya.
- Bitcoin Is No Bubble, Israeli Expert Insists
- Israeli Blockchain Firm Sirin Labs Raises $115 Million in Initial Coin Offering
- Venezuela Becomes a Surprising Bitcoin Hub
It would be the first time that an Israeli company agreed to accept payment in bitcoin. Nevertheless Hanan Mor hedged its bet by setting a ceiling of 10 bitcoins, or no more than a quarter of the home’s price, in bitcoin.
>> Bitcoin is no bubble, Israeli expert insists: 'This thing is just going to grow' <<
It also won’t see more than 10 units with payment in bitcoin and conversion into shekels must be at the time of the purchase.
CEO and founder Hanan Mor said most of the project’s buyers are people in the diamond industry or other businesses or live abroad.
Shares of other listed companies with a bitcoin connection have soared in recent weeks, but Hanan Mor closed just 0.4% higher at 19.90 shekels ($5.64).
Click the alert icon to follow topics:
Comments
In the News
ICYMI
U.S. Envoy: ‘If This Happened in Another Country, Wouldn’t We Call It Antisemitism?’
A Women's Rights Lawyer Felt She Didn't Belong in Israel. So She Moved to Morocco
This Bedouin City Could Decide Who Is Israel's Next Prime Minister
'It Was Real Shock to Move From a Little Muslim Village, to a Big Open World'
'There Are Similarities Between the Hasidic Community and Pornography’
