• The Biggest Crypto Deal Is Changing Luxury Real Estate With A $22-Million Miami Condo

  • Cryptocurrency has come a long way, and real estate’s future is closely linked to Crypto assets, as evidenced by the sale of the premium penthouse of Arte Surfside — oceanfront luxury condos in Miami Beach completed in 2019, with the latest price estimates of $11.2 million — for $22.5 million this June.

    The developers had previously stated that they would accept cryptocurrency. The estate has been listed for resale once more, with a new asking price of $28 million. Cryptocurrency, which is changing the way we travel, will also become the preferred payment method in the luxury real estate market.

    Cryptocurrency has infiltrated every economic sector.

    Arte Surfside developers Alex Sapir and Giovanni Fasciano were contacted by Travel and Leisure.com. The conversation went into detail about how cryptocurrency has infiltrated every economic sector and why Miami has become the most popular location for such funds. The message is clear: luxury buyers and travelers have carved out a niche in the rapidly changing world of digital currency.

    Sapir outlined the overarching reason for accepting cryptocurrency as payment. Real estate is viewed by cryptocurrency investors as one of the best ways to preserve the value of their wealth over time. It is less prone to inflation than fiat currency due to its finite existence. The depreciation of fiat currency is fueling the growth of cryptocurrencies.

    Sapir and Fasciano are among the first developers to embrace cryptocurrency in the real estate industry. The burgeoning crypto industry and the wealth it was creating were ripe for the taking, and the duo was the first to seize the opportunity.

    Sapir admits that real estate is antiquated and resistant to change. Stagnation and shrinking profits, on the other hand, have forced the industry to seek greener pastures. Adopting their system to accept cryptocurrency could open up a new group of potential buyers.

    Cryptocurrency – A legitimate form of payment

    “Cryptocurrency has become a legitimate form of payment,” Fasciano stated. We wanted to find a way to make Arte even more appealing to top Silicon Valley companies and venture capital firms that were making their way to Miami. Furthermore, cryptocurrency has served as a means for many people to accumulate wealth. Accepting coins (or converting to USD) is a great way to reach this audience.”

    Cryptocurrencies are in high demand in the real estate markets. And Miami’s warm weather, beautiful beaches, tax breaks, and unique lifestyle are all attracting the world’s most affluent buyers, who are bringing their crypto assets with them. It is transforming the real estate market.

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