Christie’s opens a unit for sale of luxury properties only with cryptocurrencies

By Hannah Pérez

The auction house has a house portfolio for sale in cryptocurrencies worth more than USD $ 1 billion. He has already signed real estate agreements in cryptocurrencies, but it is the first time that he opens a specialized division.

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• Christie’s now has a division dedicated to exclusive real estate with cryptocurrencies.
• The auction house has a house portfolio for more than USD $ 1 billion sold in crypto.
• Manager of the initiative estimates that this type of agreements will only grow in the coming years.
• Trump’s favorable regulations are helping to legitimize the sector.

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The auction house Christie’s He is betting on the sale of luxury properties with cryptocurrency payments with the inauguration of a new division that will be exclusively responsible for this type of agreements.

Christie’s International Real Estatea luxury real estate division of the prestigious auction house, is opening a branch that will be dedicated to facilitating real estate transactions carried out entirely in cryptocurrencies, he reported New York Times.

The initiative is headed by Aaron Kirman, CEO of a subsidiary of Christie’s based in Los Angeles, who in recent years has observed a growth of this market niche, where billionaires come to cryptocurrencies with the aim of protecting their privacy when acquiring luxurious properties.

Kirman said to New York Times which has facilitated a handful of important agreements, including the purchase of a property of USD $ 65 million in Beverly Hills in which buyers asked vendors to accept cryptocurrencies instead of dollars.

Yes ok Christie’s has already prosecuted real estate agreements and other high -value articles with payments in assets such as Bitcoin and Ethereumthis brand the first time that the company specialized in the sale of art, creates a dedicated team.

More than USD $ 1 billion in Crypto Real Estate

The new division is composed of lawyers, analysts and cryptocurrency experts to handle peer transactions without depending on the banks, marking the first large brokerage with a team focused on cryptographic real estate, according to the report.

The house portfolio that are currently sold in cryptocurrencies amounts to a Total value is more than one billion dollarsadds the media, with properties that include a mansion of USD $ 118 million in Bel Air, a USD house $ 63 million in Beverly Hill and the distinctive “Invisible House” by Joshua Tree.

The attractiveness of using cryptocurrencies is in the anonymity that these types of assets can offer, according to the report, which highlights cases in which celebrities, artists and ultra rich have appeared in the headlines of news for their agreements of extraordinary figures. For example, as when Beyoncé and Jay-Z broke records when buying a house in Malibu for USD $ 200 million in 2023.

For a long time, public personalities use LLC for this type of agreements in an attempt to minimize the documentary trail of their homes and investments. Now, cryptocurrencies help add an additional layer of privacy, according to the newspaper.

“We have been very successful in protecting the buyer’s identity”Kirman said about the transactions he has provided so far using cryptocurrencies.

A market in full growth

Kirman was generally optimistic about the future growth of this market, projecting that cryptocurrencies could represent more than a third of residential real estate agreements in the United States within five years.

Regulatory clarity on digital currencies in the US. Under the administration of Donald Trump, it could help promote this change. Trump signed the genius law last week, which establishes a regulatory framework for cryptocurrencies and provides a path for the legality of the emerging class of assets in the country. It is the first major crypto legislation, and others are advancing.

“The trend was obvious – the cryptocurrencies arrived to stay. It will only grow in the coming years“Said Kirman, who also said that he is now in conversations with several large banks in the United States to start accepting cryptocurrencies for homes that require financing.

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Hannah Estefanía Pérez / Diariobitcoin

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