David Guetta, a popular French DJ and music producer, has decided to sell his South Beach pad in the luxurious Setai Residences condo/hotel building located in Miami Beach and cryptocurrencies are accepted as payment for it.
Miami market expert and full-service real estate consulting agency Fred Group has listed Guetta’s lower penthouse for $14 million, with bitcoin and ethereum offered as payment choice for any buyer who wishes to acquire the property.
As far as cryptocurrency mainstream adoption is concerned, as well as celebrities backing the digital asset, this could be chalked up as another victory for the nascent asset class.
Details about the penthouse
The lucky buyer, who can pay either fiat or the accepted digital currencies, will be the owner of a 2,528 square foot beachfront property on the 37th floor of the Setai Residences that features three bedrooms, three bathrooms, a panoramic view of the Miami skyline, 24-hour room service and other amenities.
The music producer gained ownership of the property by purchasing it for $9.5 million from New York billionaire Richard LeFrak. Guetta is set to gain $4.5 million from the sale when it gets completed.
Meanwhile, the decision to include bitcoin and ethereum as mode of payment appears to be a personal preference of Guetta, as other listings on the Fred Group website has no other mention of cryptocurrencies.
Growing adoption of crypto
In a similar matter, Germans have gone far in adopting digital currencies. In fact, because of the crypto-friendly German taxation law, it is now possible to buy real estate with cryptocurrencies.
With real estate prices going wild today partly because of the current pandemic, bitcoin adoption is making its presence felt through the properties industry.
Companies are even advertising that they now specialize in catering listings for crypto-paying clients around the world.
Image courtesy of Cointelegraph News/YouTube