The United States is one of the favorite destinations for the Chinese millionaires who have earned a great deal of money with the help of cryptocurrencies. One such millionaire by the name of Guo Hongcai just bought a 1,00,000 ft.² mansion in Los Gator. He was one of the early adopters of Bitcoin. As a result, he was able to make a significant amount of return.
According to him, selling Bitcoin in the United States is very easy. After selling Bitcoin in the United States, he had the option to buy anything. This is one of the main reasons why he decided to buy real estate in the United States.
He is very clear that the mansion which he bought in the United States will remain his second home. Also, by staying in the United States, he will be able to stay away from the Chinese regulators who are continuously regulating the cryptocurrency industry. As a result, he will be able to diversify his holdings as well by investing in real estate. Moreover, by investing in real estate, he will not have to worry about going through a bank. This will ensure that he has a diversified portfolio quite easily.
Increasing Visible Trend
It is an increasingly visible trend that cryptocurrency millionaires are headed to the United States in order to not just invest in real estate but also lead a more comfortable life. Since the rules and regulations in the United States are not as stringent as in China or any other country, they are able to liquidate their assets quite easily. This is one of the main reasons why they are able to make a significant amount of money in a shorter period of time. Moreover, in the United States, it is easier to find exchanges with high volume as well. As a result, liquidity is not an issue and they are able to liquidate their holdings without any problems at all.
The cryptocurrency hotspots are not just limited to the United States. There are plenty of them in the united kingdom as well. This is one of the main reasons why people are actually moving to the cryptocurrency hotspots in order to liquidate their holdings as well.
With that being said, it remains to be seen whether the United States in the future comes down hard on the cryptocurrencies or not. For now, however, it seems like it is actually enabling the liquidation of cryptocurrencies quite easily. As long as it is able to provide proper liquidity and regulatory atmosphere to the Chinese cryptocurrency investors, the migration will just continue.