BEVERLY HILLS, CA, Jan. 04, 2018 (GLOBE NEWSWIRE) -- Hubilu Venture Corporation (“Hubilu”) announces it will now accept rental payments in Bitcoin, Ethereum, Bitcoin Cash and Litecoin, using the Coinbase digital currency exchange for processing cryptocurrency transactions in their respective blockchains. Crytocurrency will be accepted from all tenants.
David Behrend, Chief Executive Officer stated, “Cryptocurrency is transforming modern high tech and financial markets, making payment transactions easier for everyone as it becomes a more accepted world-wide based payment system. As part of our continued growth, we believe in creating opportunities for our customers and tenants, and strive to add value for our shareholders. By accepting crytocurrency for rental payments, we believe Hubilu to be one of the early landlords to adopt this alternative form of payment that Millennials and Gen-X are quickly adopting. We know the importance of digital payment systems and believe in the long term adoption of cryptocurrency. Rent payment has never been easier!”
Bitcoin is noted as the first decentralized digitalized currency which operates in a direct peer to peer system, with transactions taking place directly between users without help of an intermediary. Verified by network nodes, these transactions use cryptography and are recorded in blockchain, a publicly distributed ledger. Ethereum has recently seen success in use as the crytocurrency blockchain of CryptoKitties, a new blockchain-based recreational game trading virtual cats.
About Hubilu Venture Corporation:
Based in Beverly Hills, California, Hubilu Venture Corporation, a real estate asset management and business acquisition corporation, is executing on its business plan, seeking to acquire student housing and real estate investments around the niche markets of the USC campus area and the expanding urban transportation Metro stations facilitated by the development of the Los Angeles Metro/subway system. In addition to real estate, Hubilu looks to diversify its’ portfolio by expanding into business acquisitions in Southern California, specifically in the Property Management, Green, Health Care, IT/Cloud and E-Commerce (B2B, B2C) sectors. Hubilu, inspired by its mission statement, Strategic Growth Though Smart Ventures, focuses on acquiring high path of growth real estate and business opportunities that it believes are recession proof and have limited downside risk, while offering upside potential in equity appreciation and cash flow.
Forward looking statements:
This press release contains forward-looking statements within the meaning of Federal securities laws, concerning the future performance of our business, its operations and its financial performance and condition and potential selected offerings presented without the context of accompanying financial results. The comments of Mr. Behrend and statements regarding the acceptance of Bitcoin, Ethereum, Bitcoin Cash and Litecoin as a form of rent payment are examples of forward-looking statements. A number of factors could cause Hubilu Venture Corporation’s actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; cryptocurrency price fluctuations, the supply of and demand for real properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or the costs may be greater than anticipated. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise. For further information on factors that could impact Hubilu Venture Corporation, reference is made to our filings with the Securities and Exchange Commission.