The UAE’s biggest real estate firm Emaar is allegedly accepting crypto. But before you break out the party hats, crack open the champagne and celebrate global crypto adoption, wait for the whole story. Emaar is now saying, they are denying this fact. So what are they hiding?
UAE BUILDS REAL ESTATE WITH CRYPTO?
You may have heard of Emaar Properties before. They’re most known for building the world’s tallest building Burj Khalifa. However, did they accept cryptocurrencies during the process? In an interview with Bloomberg, Emaar stated that they only take fiat currencies like AED or USD as payment for their various properties. Yet, Australiana crypto-centric website Micky paints a different picture. In a Feb 19 article, Micky stated that Emaar let clients buy property with BTC and ETH using an offshore broker in Switzerland.
UAE CRYPTO REAL ESTATE SCANDAL: FAKE NEWS?
There are two sides to every story. On one side, you have what looks to be a greedy UAE crypto real estate operation. But on the other side, a different tale is spun. Emaar’s number one competitor Premier Estates posted this story on their Twitter page. These leaves some to believe that they are behind the initial news break in an attempt to tarnish Emaar’s reputation in the country. Also, Bloomberg, who recently released a false report regarding Japan bitcoin ETF’s is not exactly known for honest reporting either. Whether or not this is a crypto real estate scandal or fake news is yet to be determined. Meanwhile, here is what you can do about it.
UAE CRYPTO REAL ESTATE HAS NO EFFECT ON YOU
There are some people out there who believe negative crypto news has an effect on the market value. Sure, that is true to some extent but for the most part, don’t worry about it. The crypto market will remain bearish regardless of good or bad news. Speaking of a bear market, are you prepared for it? Don’t just watch your portfolio collapse, start protecting it.
Using crypto backed loan, you can get cash without selling your crypto. FinTech platform YouHolder takes BTC, BCH, BSV, ETH, LTC, XRP and more as collateral. In minutes, you can receive a cash loan to hedge your portfolio, pay crypto mining expenses or leverage your assets. For any crypto trader that believes in global adoption, crypto lending is a valuable tool that helps you play the market without selling your valuable crypto. Check them out today.