Over the past month, cryptocurrencies such as Bitcoin, Ethereum, and Litecoin have significantly dropped in value. But you wouldn’t know that based on the Miami-area real estate market. This week, a $22.5 million Miami Beach penthouse was just purchased using cryptocurrency—making it the most expensive property to ever be paid for using the digital currency. While this news might surprise most readers, the practice of using cryptocurrency to purchase real estate has actually been picking up steam for years.
The Miami Beach penthouse is located in the city’s Surfside neighborhood, an exclusive area that made history for an oceanfront condo that sold for $33 million in December 2020 (it’s now among the most expensive condo sales in South Florida history). The 5,067-square-foot penthouse is located on the ninth floor of the 12-story building, and includes four bedrooms and four bathrooms. The buyer (who remains anonymous) will enjoy a 2,960-square-foot terrace with oceanfront views.
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