Miami-based E11EVEN Hotel and Residences claims to be the first real estate company to allow deposits for real estate purchases in the form of cryptocurrency.
Speaking to Fox Business, business and condominium project co-founder Marc Roberts said the enthusiasm for crypto was “really amazing.”
Roberts noted that local interest in crypto assets had spiked amid the recent Bitcoin Miami conference – which took place earlier this month and drew crowds of around 50,000 according to its organizers.
He noted that there had been a “tremendous response” to E11EVEN’s announced takeover for the crypto, adding that he had already collected his first crypto deposit before officially announcing that he would accept the assets. digital.
Roberts added that E11EVEN is now about a month away from collecting its second crypto deposit, predicting that the down payment will be worth between 10% and 15% of the property’s sale price.
The company offers high-rise residences in the Park West neighborhood of Miami. Prices for lavish units start at $ 377,400, according to Miami Residential real estate agent. The 65-story condominium has 375 units, with the penthouse expecting to fetch up to $ 10 million.
Roberts described taking over crypto as one of the company’s “biggest decisions”, warning: “those who don’t embrace [crypto] will be left behind: “
“I think the whole movement is towards more buyers paying in crypto and we are very happy to be the first to use cryptocurrency for real estate deposits.”
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The real estate mogul recognized the volatile nature of digital assets, but was convinced that the younger generation is not fazed by price fluctuations and has already embraced digital assets.
When asked if he would immediately liquidate crypto deposits to eliminate volatility, Roberts offered little clarity, saying, “This is so new and we are studying and trying to embrace the movement.”
In mid-May, Cointelegraph announced that investors can buy luxury apartments in Portugal using Dogecoin among other digital assets.
Also in May, it was reported that Arte Surfside luxury apartments in Miami, home of Ivanka Trump, accept payment for real estate in several cryptocurrencies, including Bitcoin and Ethereum.