$18.5 Million For A House...In Bitcoin?

Photo by Tomek Baginski / Unsplash

Talent manager Scooter Braun (Justin Bieber, Ariana Grande) has sold his Austin lakefront estate for $18.5 million in Bitcoin. The home sits in Westlake, on a bluff above Lake Austin, with incredible views that include downtown.

Source: Eric Moreland Group

The buyer was Wayne Vaughan, blockchain expert and co-founder and CEO of Tierion, according to the Wall Street Journal. The 7400 square foot property sits on 2.3 acres and has 6 beds, 7.5 baths, with over 300 feet of lakefront views.

Source: Eric Moreland Group

The deal represents the largest cryptocurrency real estate transaction in the State of Texas, with Braun opting to receive his payment in BTC. Texas has been a huge proponent of crypto, with a large amount of mining company in transit from China on its way to the Lone Star State. Geosyn Mining launched both a downtown Fort Worth mining showpiece for an even larger 20,000 square foot facility outside of the city with over 530 mining machines due by the end of March 2022. The Texas Blockchain Council estimates there are 27 local mining companies.

As Texans begin to embrace Bitcoin more and more, we can expect to see an increase in crypto real estate transactions.

Disclaimer: Nothing in this article should be considered investment advice. Readers should do their own research (DYOR).

Joe Steele
In addition to investing in and selling real estate, Joe is also a crypto investor, running a blog and YouTube Channel, “Crypto and the House”, focusing on all things real estate and crypto.
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