You’d have go be insane to do a transaction in real estate such as building a new house in BTC. For example, if you were a builder and 6 months ago were expecting $600k (contract for 10 btc) for a new house, today at closing you are getting $300k.
That doesn’t make any sense for a couple of reasons.
First, no builder (or any other merchant or services provider) is drafting price quotes in bitcoin. They’re using whatever currency they have to pay taxes in to price goods and services.
Second, a merchant, services provider, or builder doesn’t have to hold bitcoin to accept it. They can either use a crypto payment processor to settle the transaction in fiat, or they can exchange it at the time of the transaction.
Very few businesses are going to want to hold bitcoin or any other crypto because you have to use non-GAAP accounting to keep it on your balance sheet.
It’s very popular in South America as a payment type for real estate as lots of South Americans bought in early in the crypto game, and a lot of South American governments don’t count a crypto transaction, large or otherwise, as a taxable event.