Cryptocurrency News

Miami real estate firm accepts crypto deposits after conference for condos

Miami-based E11EVEN Hotel and Residences is claiming to be the first real estate company to allow deposits for property purchases in the form of cryptocurrency.

Speaking to Fox Business, the company and the condominium project’s co-founder, Mark Roberts, said that the enthusiasm for crypto is “truly astonishing.”

Roberts pointed out that local interest in crypto assets increased during the recent Bitcoin Miami conference held earlier this month. around 50,000. drew a crowd of According to its organisers.

He added that there has been an “tremendous response” to E11EVEN’s announced support for crypto, adding that it has already collected its first deposits in crypto before it officially announced it would accept digital assets.

roberts couple That E11EVEN is now almost a month away from collecting its second crypto deposit, predicting that the down payment will be between 10% and 15% of the sale price of the asset.

The company offers luxurious high-rise homes in Miami’s Park West District. Prices for lavish units start at $377,400, according to real estate agent Miami Residential. There are 375 units in the 65 story condominium, with the penthouse expected to fetch up to $10 million.

Roberts described backing crypto as one of the firm’s “greatest decisions”, warning: “Those who don’t embrace [crypto] Will be left behind:

“I think the whole movement is trending towards more buyers paying in crypto and we are very excited to be the first to take cryptocurrency for deposits on real estate.”

related: DJ David Guetta puts up luxury Miami pad for sale, will accept 380 bitcoin for it

The real estate mogul acknowledged the volatile nature of digital assets, but was confident that the younger generation is not bothered by price volatility and has already embraced digital assets.

Asked if he would immediately eliminate crypto deposits to eliminate volatility, Roberts offered a little clarity, saying: “It’s all so new and we’re studying and we’re looking to adopt the movement. trying.”

In mid-May, Cointelegraph reported that investors could Buy luxury apartments in Portugal using Dogecoin among other digital assets.

Also in May, it was reported that Miami’s Arte Surfside luxury apartments, Ivanka Trump’s home, were Accepting payments for real estate in multiple cryptocurrencies Including bitcoin and ethereum.