A luxury penthouse in Miami was bought for $22.5 million using cryptocurrency.
Considered the largest known cryptocurrency real estate purchase to date, the deal was closed just weeks after the Owner announced it would accept digital assets as payment.
The 5,067 square foot apartment spans the entire ninth floor and offers 360-degree views of the ocean, coastline and Miami cityscape.
Miami recently announced itself as a growing hub for the cryptocurrency market.
SolidBlock assisted in the transaction and provided legal and tax advice.
It is not the first crypto paid property sale but it is surely the biggest so far. The Buyer remains anonymous and the company said details cannot be disclosed about the type of crypto used to purchase the luxury penthouse.
SolidBlock CEO said:
“We were overwhelmed by the amount of calls we received from qualified buyers, Real-world crypto transactions haven’t made their way fully into the mainstream yet, so it’s clear that top holders around the world pay attention when new opportunities to transact open up.”
The sale also comes just days after the explosive Bitcoin conference in Miami led by Twitter CEO Jack Dorsey and MicroStrategy CEO Michael Sailor. More than 12,000 people took part in the sold-out event, with thousands more watching online.
The Mayor of Miami aims to turn the city into the next Silicon Valley by embracing Bitcoin and other tech innovators.