The latest edition of XEROF's weekly newsletter offers insights into digital assets and high-end living.
Our top digital currency news stories this week are as follows:
- Bullish Prediction: Bitcoin's Price to Reach $100,000
- Dubai Financial Authority Approves XRP as a Recognised Cryptoasset Token
- PayPal Secures Cryptoasset Service Provider Status with FCA
We also feature the latest developments in high-end living, including:
- Calgary's Attraction: Affordable Luxury Homes Draw Out-of-Town Buyers
- Defining Luxury: U.S. Home Prices Soar, Setting New Q3 Records
- The Surging Demand for Luxury Housing in India
Bullish Prediction: Bitcoin's Price to Reach $100,000
Bitcoin passed the $35,000 mark in October, setting another record high for 2023. This year-long upward trend is likely due to unconventional market dynamics, particularly the growing enthusiasm surrounding pending Bitcoin spot ETF applications under consideration by the SEC. Anticipation of the upcoming halving event has fuelled significant price predictions for Bitcoin, with renowned “Rich Dad, Poor Dad” author Robert Kiyosaki taking to Twitter to predict $100,000. Although the cryptoasset community is optimistic about a potential Christmas season bull run, the exact trajectory remains uncertain, as XEROF acknowledges.
Dubai Financial Authority Approves XRP as Recognised Cryptoasset Token
On Thursday, Ripple unveiled that the Dubai Financial Services Authority (DFSA) has approved the utilisation of XRP within the Dubai International Financial Centre (DIFC), a distinctive economic zone in Dubai. The DFSA, which serves as the DIFC's financial regulatory authority, is instrumental in this authorization. XEROF notes that the UAE has rapidly emerged as one of the most forward-thinking jurisdictions committed to delivering clear regulations and guidelines for licensed enterprises to provide virtual asset services.
PayPal Secures Cryptoasset Service Provider Status with FCA
PayPal has officially completed its registration as a cryptoasset provider (FCA) in the UK. This registration grants the company the authority to endorse its cryptoasset-related marketing campaigns, aligning with the recently enforced regulatory framework. XEROF highlights the FCA's stipulation that PayPal must obtain the regulator's consent before engaging in staking, ICOs, or any DeFi activities.
Luxury Real Estate News
Calgary's Attraction: Affordable Luxury Homes Draw Out-of-Town Buyers
A recent Sotheby’s report reveals strong summer luxury home sales in major cities like Toronto, Vancouver, and Montreal, followed by a dip in September. However, Calgary stands out, attracting out-of-town buyers due to its relative affordability, with luxury homes starting at just over $1 million compared to $4 million in larger cities.
Defining Luxury: U.S. Home Prices Soar, Setting New Q3 Records
According to a Redfin report, in Q3, median luxury home prices in the U.S. surged 9% YoY to $1.1 million, while non-luxury home prices rose 3.3% to $340,000. These records are the result of an analysis that used Redfin Estimates as of October 15, 2023, to classify residential properties by value tiers. According to the report, non-luxury homes are classified as being in the 35th–65th percentile of market value, and luxury homes are defined as being in the top 5% of their respective metro areas.
The Surging Demand for Luxury Housing in India
In Q1 2023, luxury home sales in India soared by a remarkable 151%, reshaping consumer trends. The average price of luxury housing units in India, valued at over Rs 1.5 crore, exhibited an impressive 24% surge in 2023 compared to price levels in 2018. This significant growth not only illustrates the growing appetite for luxury homes in the Indian real estate market but also reveals the resilience and adaptability of the sector.
XEROF is a Swiss-licensed Crypto Gateway that offers exchange services for customers who possess crypto wallets and want to use them as fiat currency to purchase real estate properties and luxury goods.Learn more about XEROF