The firm called Glen Oaks began accepting Bitcoin in 2018, and it sees this loan as proof the crypto’s value proposition becomes clearer to debtors and creditors.
It’s been revealed that Glen Oaks Escrow which is one of the largest independent escrow companies in California, has facilitated its first refinancing through a Bitcoin-backed loan.
In a press release that’s been just issued, the company said this marks the first time a refinancing has been completed with a buyer using Bitcoin as collateral.
Glen Oaks Chief Operating Officer Joe Curtis commented the following as noted by the online publication The Bitcoinist:
“Seeing someone other than the home buyer use Bitcoin in a real estate transaction tells us that this technology has the potential to continue becoming more prominent, even if it is still considered new to our industry.”
“Seeing a lender use cryptocurrency for a refinance shows us that this payment method is continuing to grow in how it’s used and who it’s used by,” Glen Oaks COO Joe Curtis said.
You can check out the complete article in order to learn all available data on the matter.
Also, check out the original press release.
Bitcoin could be gearing up for a strong surge
Regarding the price of Bitcoin these days, crypto trader and influencer Lark Davis believes that Bitcoin might be gearing up for a strong surge.
“But what if all of this – what if all this crazy run-up, all this crazy bearish action – has simply been one massive, incredible retest of support, which essentially means that Bitcoin is getting primed for a mega moon rally… We going to the moon once we reclaim the 200-day [simple] moving average,” he said.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $40,008.