Harbor Custom Development, Inc. Announces Acceptance of Bitcoin and 12 Other Digital Currencies for its Real Estate

Harbor Opens up Residential Sales to $2.5 Trillion Digital Currency Marketplace

Gig Harbor, Washington , Jan. 24, 2022 (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 involved in all aspects of the land development cycle, announced today it will accept  Bitcoin and 12 other digital currencies as payment for its listed land, developed lots, residential homes, condominiums, and apartments in the Company's operating markets in Washington, California, Texas, and Florida.

In addition to Bitcoin, the Company also accepts: Ethereum, USD Coin, XRP, Dogecoin,

SHIBA INU, Binance USD, Wrapped Bitcoin, Litecoin, Dai, Bitcoin Cash, Pax Dollar and Gemini Dollar. Harbor uses a third-party company that converts cryptocurrencies to U.S. dollars and those funds are sent to escrow to close the transaction. All real estate transactions are settled in U.S. dollars.

“The blockchain is a transformative and disruptive technology that is rapidly gaining acceptance globally. It is without question a significant step forward for the Company to offer our real estate products and services to individuals and institutions that represent over $1.5 trillion in purchasing power,” stated Sterling Griffin, President and CEO of Harbor Custom Development, Inc.

“We embrace the technological advances in our industry and seek to guide their impact in the future. Harbor is excited to be the first national homebuilder and land developer to introduce our portfolio to the worldwide cryptocurrency market with more than 200 million users.” Stated Jeff Habersetzer, Chief Operating Officer at Harbor Custom Development, Inc.

About Harbor Custom Development, Inc.

Harbor Custom 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 projects in Western Washington's Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida. As a land developer and builder of apartments, condominiums, single-family homes and luxury homes, Harbor Custom 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 acquiring land with scenic views to develop and sell residential lots, new home communities, and multi-story condominium and apartment properties within a 20 to 60-minute commute of the nation’s fastest-growing metro employment corridors. Harbor is leading the real estate industry as the first national land developer and home builder accepting offering payment in the form of cryptocurrency for its listed land, developed lots, residential homes, condominiums, and apartments. For more information on Harbor Custom Development, Inc., please visit www.harborcustomdev.com.

Forward-Looking Statements

Certain statements 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 statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission. Thus, actual results could be materially 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.