Cryptocurrency investors with Dogecoin (DOGE) to spare can now spend some of their Shiba Inu-themed coins to purchase luxury condos in Portugal, according to reports.
What Happened: Over the counter or OTC liquidity provider FNTX Capital Suisse has partnered with 355 Developments, a Portugal-based property firm, to offer condos in Lisbon, Cointelegraph reported.
As per FNTX’s website, there are three properties listed for sale in the Portuguese capital, which include a luxury duplex penthouse at a prime location in the city’s center and a three-bedroom apartment “in the heart of Lisbon.”
The properties are denominated in DOGE, Cardano (ADA), Ethereum (ETH), and Bitcoin (BTC).
Buyers choosing to pay for the luxury penthouse will have to shell out nearly 5.05 million DOGE, which was worth $2.22 million at press time when DOGE traded 12.7% higher at $0.44 in a 24-hour period.
ADA traded 2.98% lower at $1.73, ETH traded 6.49% lower at $4,013.47, and BTC traded 10.10% lower at $51,231.57 at press time.
Why It Matters: This month, Dallas Mavericks owner Mark Cuban said that he believes DOGE has the potential to become a useful currency if adoption among companies rises.
Seventy-one listings mentioned cryptocurrencies or Bitcoin in their descriptions on the real estate website, Realtor.com, which implies 14.3 listings per 100,000 homes — the highest rate ever recorded, Yahoo Money reported.
The previous high was reportedly seen in March 2018, when cryptocurrencies last peaked in popularity, and at the time, the website reported 12.7 listings per 100,000 homes.
In April, it was reported that Terrance Leonard, a software engineer, purchased the property of his choice using gains from his investment in Chainlink (LINK) and other coins, but his investment strategy excluded DOGE.
However, Leonard had to liquidate his cryptocurrency holdings in order to purchase his house in order to satisfy his lender.
Photo by DealDrop.com Images on Flickr