Source: The New York Times
Original Title: Christie's Debuts Crypto Real Estate Division
Compiled and Organized by: BitpushNews
One of the largest luxury brokerage firms in the United States is establishing a dedicated division that allows buyers to purchase real estate using digital currency.
Christie's International Real Estate has become the first major brokerage firm to form a specialized team handling purely digital payment property transactions. The team, composed of lawyers, analysts, and crypto experts, provides transaction services independent of banks, a move coinciding with the acceleration of cryptocurrency integration into mainstream financial systems.
Aaron Kirman, CEO of a Los Angeles-based subsidiary of Christie's, announced the establishment of this division on Thursday.
Over the past two years, he has completed several large transactions, including a $65 million Beverly Hills property purchase where the buyer requested the seller accept cryptocurrency instead of traditional US dollars.
Aaron Kirman
The seller agreed, and Kirman sensed the market's shift.
Kirman stated in an interview: "The trend is clear—cryptocurrency is here to stay. In the coming years, it will only get bigger."
The Trump administration and Washington have consistently supported digital currencies. Last week, US President Trump signed the landmark Genius Act, which outlines federal rules for stablecoins, a popular digital currency designed to maintain a $1 price.
The House also passed the Clarity Act last week, which would significantly strengthen the crypto industry by protecting it from aggressive regulation. The bill has been submitted to the Senate.
These bills follow a series of administrative actions and regulatory reforms in Washington that have greatly benefited the Trump family. Estimates suggest his crypto wealth has grown to as high as $7.1 billion, while the family's crypto business, World Liberty Financial, is thriving.
With Trump's strong support, cryptocurrency—once viewed by many as obscure or risky—has now gained Washington's approval and is poised to sweep the real estate market.
In June, both Fannie Mae and Freddie Mac were instructed to consider crypto investment as a key part of mortgage applicants' portfolios.
According to a recent Gallup poll, approximately 14% of American adults now own at least some cryptocurrency.
Kirman noted that while real estate transactions using cryptocurrency remain rare, digital currencies are increasingly being offered as a payment method, especially among wealthy individuals who could pay entirely in cash.
The massive appeal of cryptocurrency is its ability to completely protect a buyer's identity, which might be difficult to achieve otherwise.
Joshua Tree's "Invisible House" will also accept cryptocurrency payment, valued at approximately $18 million. Image source: One Shot Productions
Celebrities, royalty, and the wealthy have long purchased homes through Limited Liability Companies (LLCs) to minimize paper records of their properties and investments. However, fans and internet detectives excel at linking LLCs to the celebrities behind them, and these sale details often leak.
For example, in 2023, Beyoncé and Jay-Z purchased a $200 million Malibu house through an LLC, breaking California real estate records, but the news quickly made headlines.
Kirman stated he has completed multiple transactions where sellers were unaware of the buyer's identity. He said sellers' lawyers communicate with buyer representatives to ensure transferred funds are not of illegal origin.
He now has a portfolio of houses whose sellers are willing to accept cryptocurrency, stating that these properties' total value exceeds $1 billion.
This includes a $118 million mansion in Beverly Hills' Bel Air area, nicknamed "La Fin"; a $63 million Beverly Hills mansion designed by Woods and Dangaran, called "Neidinger"; and Joshua Tree's unique minimalist residence "Invisible House" with mirror exterior walls that make it appear to disappear into the desert.
Kirman states that the $118 million "La Fin" mansion in Bel Air is the most expensive residence listed in cryptocurrency to date. Image source: One Shot Productions
"Accepting cryptocurrency indicates our openness to innovative buyers, some of whom are crypto millionaires and billionaires seeking to diversify into real-world assets," said Chris Hanley, owner of the "Invisible House", which is listed for $17.95 million.
In the new division working with Christie's, buyers are also using LLCs, but they are establishing these companies using cryptocurrency instead of bank deposits, making the tracking process even more difficult.
Mr. Kirman said he is currently negotiating with several large banks, hoping to begin accepting cryptocurrency for houses requiring financing, estimating that within five years, crypto transactions will account for over one-third of all residential real estate transactions in the US.
"We've been very successful in protecting buyer identities," Mr. Kirman said about his current crypto-completed transactions. "If my sellers don't mind an anonymous buyer, then God bless America."
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