A luxury penthouse in Miami was purchased for 22.5 million USD with cryptocurrency in what was considered to be the largest known cryptocurrency real estate purchase to date. The transaction closed just weeks after the developer announced that it will be accepting digital assets as payment. Miami recently has billed itself as a growing hub for the crypto market.
While this isn’t the first property paid for in cryptocurrency, it is the biggest. The buyer remains anonymous and the company said it can’t disclose the type of cryptocurrency used to purchase.
The sale also comes just days after a blowout bitcoin conference in Miami. The sold-out event was attended by over 12,000 people, with thousands more watching online.