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Will Crypto Change Luxury Real Estate?

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Perri Ormont Blumberg writes an interesting article for Travel & Leisure, The Largest-known Cryptocurrency Deal Was on a $22-million Miami Condo — Here’s How It’s Changing Luxury Real Estate. She writes on how a Miami condo sold in June became the largest known crypto real estate purchase.

One of the developers Alex Sapir was interviewed for the article he said, “cryptocurrency investors are savvy and see real estate is one of the best ways to preserve wealth in the long term. “It was evident to us that we needed to merge the two industries and create a new norm.”

The developer continued, “We were overwhelmed by the amount of calls we received from qualified buyers just days after announcing our ability to facilitate cryptocurrency transactions for the condominiums at Arte…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.”

It will be interesting to see how the divergence between crypto and real estate investing continues into 2022.

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