Exhibit 99.1
HarborCustom Development, Inc. Announces Acceptance of Bitcoin and 12
OtherDigital Currencies for its Real Estate
HarborOpens up Residential Sales to $1 + Trillion Digital Currency Marketplace
GigHarbor, Washington , Dec. 17, 2021 (GLOBE NEWSWIRE) — Harbor Custom Development, Inc. (Nasdaq: HCDI, HCDIP, HCDIW, HCDIZ) (“Harbor,”“Harbor Custom Homes®,” or the “Company”), an innovative and market leading real estate company involvedin all aspects of the land development cycle, today announced it anticipates accepting Bitcoin and twelve other digital currencies aspayment for its listed land, developed lots, residential homes, condominiums, and apartments in the Company’s operating marketsin Washington, California, Texas, and Florida beginning January 24, 2022.
Inaddition to Bitcoin, the Company will also accept: Ethereum, USD Coin, XRP, Dogecoin, SHIBA INU, Binance USD, Wrapped Bitcoin, Litecoin,Dai, Bitcoin Cash, Pax Dollar & Gemini Dollar. Prior to the January 24, 2022 launch date Harbor may add or subtract certain digitalcurrencies from the aforementioned approved list based on market conditions. All real estate transactions will be settled in U.S. dollars.
“Acceptanceof digital currencies for our real estate offerings is a logical step for Harbor and demonstrates our flexible business model that separatesus from our industry peers,” says Harbor Chief Operating Officer Jeff Habersetzer. “By accepting digital currencies, Harbornot only opens the door to entities with combined market caps exceeding $1 trillion of purchasing power, but places Harbor in a firstmover position of adoption. We anticipate taking additional steps to further our presence and adoption of Web 3.0. Our clear objectiveis to drive shareholder value while acting as the thought leader within our industry group.” Stated Sterling Griffin, Presidentand CEO of Harbor Custom Development, Inc.
AboutHarbor Custom Development, Inc.
HarborCustom Development, Inc. is a real estate development company involved in all aspects of the land development cycle including land acquisition,entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projectsin Western Washington’s Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida. Harbor has active or recentlysold-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, Belfair, Allyn, Port Orchard, Lacey, Burien,Yelm and Blaine in the state of Washington. In addition, Harbor has acquired land and will begin constructing homes in three new markets.In the Sacramento metro market, Harbor will be constructing homes in completed subdivisions in both Rocklin and Auburn, California. Inthe Austin metro market, Harbor has acquired developed lot inventory in Dripping Springs, Driftwood, and Horseshoe Bay, Texas. The Companyrecently acquired property in Punta Gorda, Florida, and plans to begin construction of oceanfront condominiums there in 2022. HarborCustom Development’s business strategy is to acquire and develop land strategically, based on an understanding of population growth patterns,entitlement restrictions, infrastructure development, and geo-economic forces. Harbor focuses on real estate within target markets withconvenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations.For more information on Harbor Custom Development, Inc., please visit www.harborcustomdev.com.
Forward-LookingStatements
Certainstatements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws.Words such as “may,” “might,” “should,” “believe,” “expect,” “anticipate,”“estimate,” “continue,” “predict,” “forecast,” “project,” “plan,”“intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements.These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statementsare reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information availableto us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, including withoutlimitation those set forth in the Company’s filings with the Securities and Exchange Commission. Thus, actual results could bematerially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information,future events or otherwise, except as required by law.
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