Luxury In Newport Beach For $12 Million, Crypto Accepted!

Photo by Austin Neill / Unsplash
Source: Tina Ho

In a deal all about teamwork, a fully renovated tri-level home for sale in Newport Beach, CA was purchased, designed, built, financed and marketed all by local Newport Beach businesses. Listed for $11,995,000, this 6 bedroom, 5 and 1/2 bathroom house comes in at 6416 square feet in the Newport Heights neighborhood. Of course our favorite part in the property description: "Owner willing to accept Digital Currency through"

The property description continues, "unobstructed Panoramic Ocean, Bay, Beach, Fashion Island, & Newport Coast views. Outdoor living includes fireplace, living and dining area, and Built-in BBQ which frames the saltwater pool & spa creating a private retreat."

Source: Tina Ho

An elevator, a moving wall of glass to join the interior to the exterior, and "located 5 minutes to the beach, bay, Balboa Bay Club, Fashion Island, freeways, and airport", it's hard to see what's not to love about this house.

Listing agent Brian Liberto told Locale Magazine, “You’re going to see the world change and start [creating NFTs] out of all kinds of assets like cars and jewelry, but right now, there’s a big push towards real estate. When people have a lot of crypto and they’re not using that asset to buy anything, it becomes a dead asset,” Liberto explains. “If you have $1 million in crypto right now, what can you do with it? You could cash it all out, or you could buy a home with it. The future is now.”

Orange County, CA is not exactly new to crypto. Southland Credit Union (based in Los Alamitos) recently began offering its customers Bitcoin purchasing by "partnering with bitcoin firm NYDIG to bring easy and secure bitcoin purchase and sale services to the Digital Banking mobile app". It also promises no hidden fees and that you're buying your BTC directly from Southland.

Southland Credit Union membership is open to anyone who lives, works, worships or attends school in Los Angeles County or Orange County, California. Locations include Long Beach, Los Alamitos, Downey, Carson, Santa Monica, St. John's Health Center and the Los Angeles Federal Building in downtown Los Angeles.

Pretty cool for people that want to buy BTC and not have to leave their current bank. BTC is the only current offering, but Southland President and CEO Tom Lent say they will explore more cryptocurrencies in the future.

1010 Kings Rd will be a fun one to watch, if it does close for crypto, it will be a great win for the industry. With sellers willing to accept crypto for a house at this price point goes to show you how bullish many investors are, and hopefully entice other sellers in the State that the future of crypto real estate is bright.

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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