Now, we can talk about it as the present among the millionaires globally – people who sometimes share the same characteristics as some of the traditional billionaires: with “exotic” hobbies or eccentric personalities.
On the last point, it seems that an “eccentric” crypto billionaire decided to purchase a mansion on the Westside of Los Angeles, USA, worth $83 million, which has a retractable roof and two panic rooms. When the coronavirus pandemic started, the property was listed for rent, whose owner asked for $350,000 per month – an astonishing price in itself considering that it set a new record in the neighborhood.
Moreover, the new (and anonymous) owner will have 20,000 square feet of space, six bedrooms, and 18 bathrooms. The only information we know about the unidentified owner made their fortune from cryptocurrency holdings—bottom line.
Not Many Crypto Billionaires – But it Could Change Soon
As the crypto market prices are rising across the board, at least in the broad picture, the number of crypto billionaires could increase. As of 2020, Forbes reported that there were 12 billionaires who made their fortunes with cryptocurrencies. Although it might look like a small figure, consider the following fact: optimism toward digital assets is not an old trend that was born several years ago.
But the crypto prices are not the only ones that are growing. Crypto real estate is also riding bullish steam, with countries such as Spain, France, and others, listing properties transacted exclusively via cryptocurrencies.
One use case seen in March 2021 was in Sevilla, Spain, where Rental IT, a Spanish investment firm, and a domestic crypto firm, arranged a transaction of a property in an interesting way: it was split into several tokens and was done to target 32 investors from Spain and Latin America. Investors participated in the purchase by sending Ether (ETH).
Blockchain Real Estate Agencies on the Scene
But not only crypto exchanges and traditional real estate agencies are getting involved in “tokenized” property selling. There are also blockchain real estate companies that are emerging in the industry. Most of the popular ones are based in the United States, where the crypto regulatory discussions keep underway nationwide.
The fact that these firms are emerging in the U.S. gives some hints that some entrepreneurs and joint ventures foresee a huge potential in the country’s cryptocurrency industry once it starts booming after regulatory hurdles get knocked down.
Admittedly, it might sound like a pretty optimistic statement for the short term. Still, with the new US Securities and Exchange Commission’s chairman, Gary Gensler, who has a blockchain-related background, we’re witnessing some sort of progress in that regard.
Wrapping Up
Returning to the crypto tycoons who buy eccentric properties and the blockchain real estate industry, we might ask ourselves: will the governments take a tough stance against such emerging sectors in terms of regulatory affairs? Let’s wait for the crypto prices to keep rising in the long term, and eventually, we might get the answer. Who knows?
