The owner of an exclusive Beverly Hills residence, listed for $65 million, is allowing buyers to pay with Bitcoin to acquire the property. If executed, the deal will break the record for the most expensive estate sold for cryptocurrency.
BTC Invades Beverly Hills
The American business magazine Forbes reported that the multimillion-dollar home in Beverly Hills, called Elementi, can be purchased for either $65 million in cash or the bitcoin equivalent to the fiat currency – around 1950 BTC with today’s prices.
The listing agent Aaron Kirman, who is one of the co-listers of the property, commented on the news:
“Crypto is something the sellers are very interested in, and it’s a growing movement that I believe will be incorporated into the residential sphere.”
Despite the ongoing decline of the crypto market, Kirman affirmed that many real estate businesses, especially sellers, prefer digital assets as a payment method. He even said that never before the levels of crypto transactions have been that high.
Michael Chen – a person involved with the project – admitted that he is a cryptocurrency investor. In his opinion, payments with digital assets will be the future as they are fast and secure:
“Now, you can transfer $10 million in two seconds versus going through a central bank.”
Elementi – one of the pearls of Beverly Hills – has seven bedrooms, including an entire master quarter with a cantilevered balcony. The future owner of the 18,000 square feet exclusive property will also find there a half-length Olympic-size swimming pool, home theater, wine cellar, gym, wellness center, and many other facilities.
Interestingly, it is located in the luxurious Trousdale Estates neighborhood, which is well-known to be home to celebrities such as Jennifer Aniston, Jane Fonda, and Ellen DeGeneres. It is worth noting that even the “King of Rock and Roll” Elvis Presley once lived in that particular area.
Miami Holds The Record
As CryptoPotato reported in early June, an anonymous buyer paid the record-breaking $22.5 million in digital assets to acquire a deluxe penthouse in Miami Beach. Thus, the deal became the most expensive known residential transaction paid with crypto. However, it was not disclosed what type of cryptocurrency the buyer has used.
The luxurious condominium, part of the posh building Arte Surfside, set another record as it was sold for $4,450.50/SF – the highest price per square foot that Miami Beach has seen.
Giovanni Fasciano – one of Arte Surfside’s developers – noted that the purchase represented a huge achievement for the whole real estate industry in Miami and praised the usage of cryptocurrencies:
“We are making Miami real estate history with this sale. Cryptocurrency is the future of wealth, and we believe this is only the beginning.”