Shiba Inu ($SHIB) and Dogecoin ($DOGE) Accepted by First REIT Accepting Crypto


The first real estate investment trust (REIT) to accept cryptocurrencies for shares, has also adopted the meme-inspired cryptocurrencies Shiba Inu ($SHIB) and Dogecoin ($DOGE), as part of a partnership with crypto payments processor BitPay.

According to a press release the REIT, NOYACK Logistics Income (NLI), which invests in supply chain real estate, is now accepting various cryptocurrencies for its shares via BitPay. The cryptocurrencies the REIT accepts include the meme-inspired assets as well as BTC, BCH, ETH, LTC, WBTC, and leading stablecoins like BUSD, USDP, DAI, and GUSD.

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BitPay’s CEO Stephen Pair was quoted saying:

This is another example of moving crypto mainstream. We see more investors asking to move cryptocurrency allocations into physical assets like real estate. This ability puts Noyack at the forefront of alternative investment management.

Pair added that the “market potential for crypto adoption bridging into the physical world is huge” and added the firm estates $55 billion in “purchases and investments using cryptocurrency in the next 12 months.”

As CryptoGlobe reported, earlier this month Australian energy firm 1st Energy started accepting cryptocurrency payments through BitPay as well. The firm also accepts payments in the meme-inspired tokens DOGE and SHIB.

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Leading U.S. movie theater chain AMC has also recently added payment options for these two cryptocurrencies thanks to BitPay, as in an announcement from its CEO Adam Aron the crypto payments provider was mentioned for helping “make this happen.”

Notably, Shiba Inu’s burn rate has recently skyrocketed after over 745 million tokens were burned in only 24 hours. The figure saw SHIB’s burn rate jump over 6,700%. Token burns, are made by sending SHIB to inaccessible addresses, effectively removing the tokens from circulation.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Pixabay


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