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Pi Coin has taken a notable step towards mainstream adoption, joining Bitcoin (BTC) in the crypto payments space.

Nevertheless, the token remains controversial, as its mining method continues to spark debate across various jurisdictions.

Pi Coin Gains Momentum, Trails Bitcoin in Real Estate Transactions

In a post on X (Twitter), Pi Network revealed that Zito Realty in Florida now accepts PI Coin for real estate transactions. The real estate firm, led by American film producer and actor James J Zito, has become a pioneer in integrating Pi Coin into the property market.

“American film producer and actor James J Zito is currently the director of Zito Realty, a real estate company in Florida, USA, which accepts real estate transactions with Pi coins,” read the post.

This marks Pi Coin as the second cryptocurrency, after Bitcoin (BTC), accepted for real estate transactions by Zito Realty LLC. Zito, an early Pi mining adopter, has strongly advocated for expanding digital currency into real-world applications.

Beyond real estate, Pi Coin also serves in car purchases in Florida. Reports indicate that Cube Motor, a Florida-based car dealership, started accepting Pi Coin as a payment method for purchasing vehicles.

“You Can Now Buy Cars with 𝛑 at Cube Motor,” a Pi network community member shared recently.

Additionally, Cube Motor has been added to Pi Network’s ‘Map of Pi,’ a directory showing businesses that accept Pi Coin. This reinforces its potential as a viable alternative to traditional financial systems and boosts confidence in the cryptocurrency’s legitimacy.

The integration of Pi Coin in both real estate and automotive industries also reflects its increasing utility. Companies like Tesla have previously experimented with digital currency transactions, and Pi Coin’s acceptance by Cube Motor marks another step toward broader adoption.

For Pi Network’s global community, the developments provide opportunities to utilize their holdings for tangible goods. After these announcements, Pi Coin’s market price soared over 20%. As of this writing, it was trading at $1.90.

Pi Network’s PI Coin Price Performance. Source: CoinGecko

Meanwhile, analysts propose four key hypotheses regarding its valuation. At the core, however, its value is closely tied to its vast and growing user base. This means increased adoption will drive long-term appreciation.

Despite its growing adoption, Pi Network has faced criticism. Bybit’s CEO has labeled it a scam, questioning its legitimacy and cautioning against speculative hype.

“Many criminals use Pi to claim that they can mine for free by simply downloading an app on their mobile phones,” Ben Zhou claimed in a statement.

Binance also faced backlash over a potential Pi Coin listing despite 85% voter support. Concerns center around regulatory clarity and real-world adoption.

While some critics remain skeptical, others have defended Pi Network’s credibility, emphasizing its active developer community and commitment to decentralization. Supporters also argue that Pi Network’s speed offers a competitive edge, potentially making it a more practical digital currency.