In regions with high participation in crypto assets, the speed of housing price increase is significantly faster than in areas with fewer crypto asset centers.

Source: beincrypto

Translation: Blockchain Knight

The notion that early BTC investors indulged in luxury items such as Lamborghinis is changing.

Recent research indicates that crypto asset millionaires are now using their newly acquired wealth for real estate investments, suggesting a more mature spending pattern.

According to a study involving prestigious institutions such as Brigham Young University, Northwestern University, and Imperial College London, the growth of crypto asset wealth has had a significant impact on the U.S. real estate market.

The analysis report of this study used data from 60 million people over 13 years. The research shows that for every $1 of unrealized crypto asset gains, approximately 9 cents are used for household expenses.

While social media often glamorizes luxury consumption of cars and jewelry, the actual economic impact of crypto asset wealth is more subtle.

The study emphasizes that crypto asset millionaires tend to invest in housing. This is similar to traditional stock investments, rather than fleeting lottery winnings.

Darren Aiello, Assistant Professor of Finance at Brigham Young University, pointed out: "Our estimates suggest that household spending from crypto asset gains aligns more with the pattern of traditional stock investments."

This trend was particularly evident in 2017, when BTC surged from around $950 to $14,000.

Researchers found that in regions with high participation in crypto assets, housing prices rose significantly faster than in areas with fewer crypto asset centers. Specifically, the homes in these crypto asset affluent counties appreciated an additional 43 basis points within 12 months.

Furthermore, separate analysis of withdrawals from crypto asset brokers indicated that large withdrawals led to subsequent increases in housing expenses.

Jason Kotter, another finance professor at Brigham Young University, shared: "Among households withdrawing $5,000 from crypto asset exchange accounts, one out of every 20 is used to purchase homes."

The shift of BTC millionaires to real estate investment reflects a strategic wealth management approach, which differs from the stereotype of frivolous consumption.

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