Imagine buying a multi-million-pound mansion with digital money, no banks involved, and it all happens quickly. Well, Christie’s International Real Estate is making that a reality. The luxury brokerage just launched a whole new division specifically to let people buy and sell high-end property entirely with cryptocurrency, according to The New York Times.
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This whole push comes from Aaron Kirman, CEO of Christie’s International Real Estate Southern California. Remember that $65 million Beverly Hills home bought with crypto? Well, that was Kirman too. It set a precedent for what Christie’s sees as a booming new market.
Real Estate, But Without the Banks
Instead of wiring money through traditional banks, this crypto-focused division is structured around peer-to-peer settlement. The setup includes legal, crypto, and financial experts to ensure deals can happen securely, legally, and without touching traditional financial rails.
So, the real advantage here boils down to three things: speed, discretion, and truly global access for these deals.
“Privacy is a huge factor,” Kirman told the Times. Buyers can use entities like LLCs backed by digital assets to protect their identity. That’s a big incentive for ultra-luxury buyers.
Kirman said that he thinks crypto could handle over a third of U.S. residential real estate deals in the next five years. Sounds like a lot, but 14% of Americans already own some crypto, so demand for new payment methods is growing fast.
Over $1 Billion in Crypto-Ready Homes
Kirman’s current listings ready for crypto payments total over $1 billion. This includes properties like the $118 million La Fin mansion in Bel Air and the $17.95 million Invisible House in Joshua Tree.
This is no small change indeed. Real estate companies globally are actively pursuing modernization; therefore, crypto payments might be a tiny fraction of the market today. However Christie’s move marks a truly massive symbolic shift. This development immediately raises big questions. How quickly will real estate fully adopt blockchain? What new regulations will inevitably follow next?
For now, Christie’s is betting that wealthy buyers want more than just fancy houses. They want easy transactions too, and they believe crypto is finally ready to deliver that.
Investors interested in crypto should stay informed by tracking the prices of their favorite cryptocurrencies and using technical analysis tools on the TipRanks Cryptocurrency Center. Click on the image below to find out more.
