Finally, one of Northern Ireland’s biggest residential property developers, Hagan homes, has started receiving bitcoin as a means of payment effective from February 22. According to Jamesy Hagan, the MD of Hagan homes, he stated that both housing and bitcoin sale are on the same level on business graph, in northern Ireland, there has been quite a huge increase in the number of international interest in living, working, and also investing in Northern Ireland, the good part about this is that it is increasing simultaneously alongside the bitcoin growth worldwide.
“Our acceptance of this new channel reflects our willingness to respond to the market.” He stated.
This decision would go down in history as Hagan home is the first housing venture in Northern Ireland dealing with Bitcoin as a means of payment. It is not to say that this step doesn’t come with its challenges, in fact, Hagan emphasized fear due to the unstable state of the crypto market, wherein the BTC price had dropped to $7000 from $20,000 in months past.
“Of course, there are some risks to using Bitcoin for payment due to the cryptocurrency’s volatility, but buyers and sellers are finding creative ways to deal with these challenges […] By incorporating the learning from our peers into our approach we can embrace this innovation.”
Northern Ireland isn’t the first country to implement bitcoin as a means of its payment, in fact other countries like the US, UAE, Indonesia, city of South Burlington, Vermont, amongst other have ventured into the same means. Real estate is really benefiting from bitcoin, although it comes with issues, but it is sure worth the risk.