Bitcoin, once seen as the preferred currency for the underworld and opportunists, has now evolved into a mainstream asset capable of purchasing high-value real estate.
In a significant development, one of the world’s leading luxury real estate brokerages has established a dedicated division focused solely on digital currency transactions.
Christie’s International Real Estate, renowned for its extensive global listings and affluent clientele, announced this initiative to The New York Times. The new team comprises lawyers, analysts, and crypto specialists, all aimed at addressing the rising demand for transactions conducted entirely in cryptocurrency.
This pioneering move is a first among major real estate firms. Leading the division is Aaron Kirman, CEO of a Christie’s affiliate in Los Angeles. Kirman has a track record of managing luxury estates, including properties once owned by Rodney Dangerfield, Cary Grant, Yolanda Hadid, and Kiley Jenner.
Christie’s crypto-ready portfolio is reportedly worth over $1 billion. Notably, the company’s Invisible House in Joshua Tree, a desert residence with a fully mirrored facade, is accepting cryptocurrency offers worth approximately $18 million. Additionally, a Bel Air mansion known as La Fin, valued at $118 million, currently holds the record as the most expensive home listed for crypto purchase.
Kirman expressed confidence about the future of crypto in real estate, stating to the Times that “the crypto trend in real estate is only going to get bigger over the next few years.”
While many wealthy individuals and celebrities often buy properties anonymously through shell corporations, even those deals can sometimes be traced. Purchasing a home exclusively with cryptocurrency, rather than traditional bank transfers, offers a level of privacy and anonymity that appeals to high-profile buyers.
Crypto-based real estate deals remain rare but highly lucrative. Over the past two years, Kirman has closed several high-end transactions in cryptocurrency, including a $65 million mansion in Beverly Hills.
Roughly 14% of American adults, according to a recent Gallup poll, now own some form of cryptocurrency. Buying real estate with crypto essentially bypasses traditional banking and mortgage systems for now. However, there are signs of change; President Trump’s housing director, William Pulte, indicated in June that he would instruct Fannie Mae and Freddie Mac to consider crypto assets as part of a homebuyer’s loan application. Washington, D.C., is also increasingly embracing digital currency under the Trump administration.
Kirman noted that he is currently in talks with major banks to facilitate financing options for cryptocurrency-using homebuyers, which could be a significant breakthrough for both the real estate and crypto industries.
Christie’s declined to comment further on this new venture.
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