Bitcoin (BTC) Collateralized Mortgages on Offer in Miami

Bob Mason

Mon, Apr 4, 2022, 9:30 PM 3 min read

Bitcoin (BTC) collateralized mortgages are available in the City of Miami.
Miami and the State of Florida are crypto havens, with Miami City looking to become a tax-free center of crypto innovation.
With Bitcoin collateralized mortgages on offer, foreign Bitcoin holders can also enter the Miami real estate market.

U.S mortgage rates have surged in recent weeks. 30-year fixed rates are now at 4.67%, the highest since December 2018.

While supply and rates may be pushing first-time buyers out of the market, demand continues to push house prices northwards. In January, the S&P/CS HPI Composite – 20 n.s.a increased by 19.1% year-on-year.

For Bitcoin (BTC) investors, the upward trend in house prices is of little consequence. Of greater significance is having to cash out for liquidity purposes.

The City of Miami, Florida, has been a center of crypto innovation for some time. It may, therefore, be of little surprise that crypto firms are finding ways to support Bitcoin holders and the real estate market.

Crypto Firm XBTO Targets Miami Housing Sector with Bitcoin-Backed Mortgages

Crypto firm XBTO is due to make its first Bitcoin-backed mortgage. According to reports, XBTO is in the process of completing a multi-million dollar Bitcoin-collateralized mortgage in Miami.

Bitcoin-collateralized mortgages allow Bitcoin holders to avoid capital gains tax and benefit from an uptrend in Bitcoin value. Longer-term Bitcoin holders are looking for Bitcoin to reach the dizzying heights of $100,000 and even $1,000,000. Bullish Bitcoin forecasts have contributed to the buy-and-hold strategy. In turn, this has led to the need for Bitcoin-collateralized loans.

XBTO is a crypto platform offering services that include institutional trading, asset management, lending & mortgages, mining, and venture capital.

Through its lending & mortgage services, XBTO offers residential and commercial mortgages with crypto collateralization. The offering enables U.S and international persons and companies to access crypto capital at competitive rates.

XBTO will reportedly limit mortgages to the State of Florida, with mortgages of $1 million or more.

Targeting the State of Florida is likely to be well received by the Governor of Florida and Miami City Mayor Francis Suarez, who are crypto advocates.

The State of Florida Becomes a Crypto Haven

In January, Miami City Mayor Francis Suarez confirmed that he would receive a Bitcoin (BTC) salary.

Miami City Mayor Suarez aims to transform the city into a “Cryptocurrency innovation hub.” The mayor’s ultimate goal is to drive enough crypto income through the MiamiCoin initiative to make the City of Miami tax-free, similar to the likes of Monaco.