A Miami property has set a record for the highest price paid in cryptocurrency in a real estate transaction — US$22.5 million. It has not been revealed which digital assets the anonymous buyer used to make the purchase.
Fast Facts:
- The record, which also broke Miami’s price-per-square-foot record, was set only a few days after the city hosted the world’s largest crypto event, the Bitcoin 2021 conference.
- Developer Giovanni Fasciano of Sapir Corp said of the purchase: ”We are making Miami real estate history with this sale. Cryptocurrency is the future of wealth, and we believe this is only the beginning.”
- Only last month, Singapore-based crypto exchange Zipmex partnered with Thai real estate developer One.Six to facilitate cryptocurrency payments for yet-to-be-completed luxury condominiums in a first for Southeast Asia.
- Speaking with the Business Times, Chawin Athakravisunthorn of One.Six said: “By offering crypto as an alternative payment, we’re able to be more attractive and gain exposure to this [younger] market, where buyers may have been successful with crypto investments and want to diversify into [tangible] assets like real estate.”