First REIT Accepts Shiba Inu ($SHIB) and Dogecoin ($DOGE)

As part of a cooperation with cryptocurrency payment processor BitPay, the first real estate investment trust (REIT) to take cryptocurrencies in exchange for shares has also embraced the meme-inspired coins Shiba Inu ($SHIB) and Dogecoin ($DOGE).

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

Stephen Pair, CEO of BitPay, was cited as saying: This is another example of mainstreaming crypto. We are seeing an increase in investor requests to convert bitcoin holdings to tangible assets such as real estate. This capability distinguishes Noyack as a leader in alternative investment management.

Pair stated that the “market potential for bitcoin adoption crossing into the real world is enormous” and that the business expects to make $55 billion in “purchases and investments utilising cryptocurrency over the next 12 months.”

As CryptoGlobe previously reported, Australian energy company 1st Energy began taking bitcoin payments through BitPay earlier this month. Additionally, the company accepts payments in the meme-inspired DOGE and SHIB tokens.

AMC, the largest movie theatre chain in the United States, has also just launched payment options for these two cryptocurrencies, citing BitPay in a statement from company CEO Adam Aron.

Notably, Shiba Inu’s burn rate has lately increased significantly, with over 745 million tokens burnt in less than 24 hours. SHIB’s burn rate increased by almost 6,700 percent as a result of this number. Token burns occur when SHIB is sent to unavailable addresses, essentially eliminating the tokens from circulation.

Also Read: Facebook Sued In Australia For Fraudulent Crypto Adverts