On May 27th, a 5,067 square foot four-bedroom in Miami Beach was sold on the 9th floor lower penthouse in a unique condo building, according to an article by Forbes.
The condominium was bought in all cash, entirely in cryptocurrency. However, the deal remains virtually anonymous as the buyer and cryptocurrency used remain private, due to confidentiality agreements.
That means two important and potentially transformative things for the real estate industry long-term: first, validation. The more deals that transact in cryptocurrency the less fear and resistance there will be to its mainstream adoption. Secondly, the more the big players jump in, like Caruso and Propy, the more that accelerates crypto’s inevitability as a common, acceptable source of currency in every day real estate transactions.
Read the full article on Forbes