The Miami-based E11EVEN Hotel and Residences claims to be the first real estate company to allow deposits for real estate purchases in the form of cryptocurrency.
In an interview with Fox Business, co-founder of the company and a condominium project, Marc Roberts, said the enthusiasm for the crypto was “really overwhelming.”
Roberts noted that local interest in cryptocurrencies had grown at a recent conference on bitcoins in Miami – held earlier this month and attracted crowds of approximately 50,000 people according to its organizers.
He noted that there had been a “tremendous response” to the reported cryptocurrency support by E11EVEN, adding that he had already accumulated his first crypto deposit before officially announcing his acceptance of digital assets.
Roberts he added that E11EVEN is now about a month after picking up its second crypto deposit, predicts that the deposit will be worth between 10% and 15% of the sale price of the property.
The company offers luxury high-rise residences in Miami’s Park West neighborhood. Prices for the lavish units start at $ 377,400, according to Miami Residential. The 65-story condominium has 375 units, with the shelter expected to raise up to $ 10 million.
Roberts described the support of the cryptocurrency as one of the company’s “biggest decisions”, a warning: “those that will not embrace [crypto] will be left behind: “
“I think the whole movement is aiming for more buyers to pay for cryptocurrency, and we are very excited to be the first people to accept cryptocurrency for real estate deposits.”
The real estate mogul acknowledged the volatile nature of digital assets, but was confident that the younger generation was not disturbed by price fluctuations and had already adopted digital assets.
Asked if he was liquidating crypt deposits immediately to eliminate volatility, Roberts offered little clarity, saying, “It’s all so new and we’re studying and trying to accept that move.”
In mid-May, Cointelegraph announced that investors could Buy luxury apartments in Portugal for Dogecoins inter alia digital assets.
Also in May, it was announced that the Arte Surfside luxury apartments in Miami, home of Ivanka Trump, were receiving payments for real estate in multiple cryptocurrencies including bitcoins and ether.