A Miami penthouse has sold for $22.5 million—what is believed to be a record price for a real estate sale executed in cryptocurrency. While the type of cryptocurrency has not been disclosed for the sale, the building’s developers told the Miami Herald that accepting cryptocurrency has gone beyond marketing and is now a requirement in order to attract the next generation of luxury buyers.
“It became apparent that there’s a whole generation buying crypto that isn’t being embraced by lots of communities, let alone real estate,” Arte developer Alex Sapir told the paper. “This was about a mindset about attracting a new class of investors.”
According to the Miami Herald, the four bedroom, four-and-a-half bath condo features 5,000 square feet of living space within the beachfront property. Amenities include two swimming pools, a meditation pond, rooftop tennis court, kids area and spa with a yoga studio, sauna and steam room.