TLDR
- Opendoor CEO Kaz Nejatian confirmed the company will accept Bitcoin for home purchases, stating “We will. Just need to prioritize it”
- OPEN stock has rallied 1,300% since early July and is up 407% year-to-date as of October 6, 2025
- New CEO Kaz Nejatian joined from Shopify while co-founders Keith Rabois and Eric Wu returned to leadership roles
- Bitcoin reached new record highs on Sunday, driving increased business interest in cryptocurrency payments
- The stock has become a retail investor favorite with active social media discussion driving price movements
Opendoor CEO Kaz Nejatian confirmed over the weekend that the company plans to accept Bitcoin for home purchases. The announcement came in response to a user question on X about enabling cryptocurrency payments.
“We will. Just need to prioritize it,” Nejatian wrote. The response indicates the feature isn’t launching immediately but confirms Opendoor’s cryptocurrency strategy.
The company has not provided additional details about implementation timelines. Investors are waiting to learn when Bitcoin payments might actually become available on the platform.
Bitcoin Rally Fuels Business Interest
The announcement comes as Bitcoin hit another record high on Sunday. The cryptocurrency’s price surge has sparked renewed interest from businesses exploring digital payment options.
Opendoor would join companies like MicroStrategy in embracing cryptocurrency. MicroStrategy shifted to holding Bitcoin as a treasury asset in 2020, inspiring other companies to follow.
The Trump administration’s crypto-friendly stance has accelerated this trend. More businesses are integrating digital currencies into their operations this year.
OPEN stock has surged over 1,300% since early July. Shares peaked at $10.52 on September 11 before pulling back.
Year-to-date returns stand at 407% as of October 6. The rally has made Opendoor a favorite among meme stock traders.
New Leadership Drives Social Media Buzz
The stock’s movement follows a major leadership overhaul. Opendoor appointed Nejatian, formerly Shopify’s COO, as CEO last month.
Co-founders Keith Rabois and Eric Wu returned as board chair and director respectively. Both leaders have been active on social media discussing company plans.
iBuyer Model Faces Market Challenges
Opendoor operates as an iBuyer, buying homes, renovating them, and reselling at higher prices. This capital-intensive model struggles during high interest rate periods.
Most competitors have exited the iBuyer space. Opendoor remains one of the few companies still pursuing this strategy.
The company has cut costs to improve profitability. Net loss dropped to $29 million in Q2 from $92 million the previous year.
Management launched a new agent partnership program. Agents use Opendoor’s platform to find customers, with the company taking a cut of sales.
Early results show promise. Twice as many customers reach final cash offers, and they receive them faster. The program is expanding to all Opendoor markets.
Existing home sales rose 1.8% year-over-year in August according to the National Association of Realtors. Median home prices increased 2% over the same period.
The Federal Reserve has begun cutting interest rates, potentially improving real estate market conditions. However, the housing market has been slow to respond.
Nejatian’s Bitcoin comments represent the latest catalyst for OPEN stock. The company’s cryptocurrency plans could attract new customers as digital payments become more mainstream.
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