Bitcoin at the heart of real estate operations

In New York, a 15.3 million USD property sale transaction was conducted in bitcoins. The Taiwanese group «Affluent Silver International» buys a 1.000 m² lot of real estate in condominium at Magnum Real Estate. The transaction is supervised by BitPay, a cryptocurrency payment specialist. The underwriter of the transaction is Starr Insurance.

The use of cryptocurrency for the purchase of goods is recent in New York. Such transaction was first made in 2018, when an apartment was purchased at 875.000 USD. A second apartment is sold, in the same year in the same city, for 1.485 million USD. Other 2018 operation but for a much more expensive Roy Nieferhoffer director of the Niederhoffer Capital investment fund, sells a mansion located on the Upper West Side (New York) for 16 million USD.

Other American cities have made real estate sales in cryptocurrency long before New York. In Florida, Martis camp, a luxury real estate complex located in Lake Tahoe, was sold in 2014 for 2.739 bitcoins, that is 1.6 million USD.

Across the glober, real estate purchases were also made in bitcoins in the United Arab Emirates, Bali and Indonesia.