Miami Real Estate Firm Accepts Cryptocurrency Deposits For Apartments After Conference

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Miami-based E11EVEN Hotel and Residences claims to be the first real estate company to allow deposits for the purchase of real estate in the form of cryptocurrency.

Speaking to Fox Business, co-founder of the company and condominium project, Mark Roberts, said the enthusiasm for the cryptocurrency is “really amazing.”

Roberts noted that local interest in cryptoassets increased during the recent Bitcoin Miami conference earlier this month, and gathered about 50,000 crowds according to its organizers.

He noted that the announced support for the E11EVEN cryptocurrency received a “huge response”, adding that the company had already collected its first cryptocurrency deposit before officially announcing the acceptance of digital assets.

Roberts added that E11EVEN is now about a month before receiving its second cryptocurrency deposit, predicting that the down payment will be between 10% and 15% of the sale price of the property.

The company offers luxurious multi-storey buildings in the Park West area of ​​Miami. Prices for luxury apartments start at $ 377,400, according to Miami Residential real estate agency. The 65-story condominium has 375 units and the penthouse is rated at $ 10 million.

Roberts called supporting cryptocurrency one of the firm’s “greatest decisions”, warning: “those that don’t [crypto] will be left behind: “

“I think this whole movement tends to increase the number of buyers paying with cryptocurrency, and we are very pleased to be the first to take cryptocurrency for real estate deposits.”

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The real estate mogul acknowledged the volatile nature of digital assets, but was confident that the younger generation was not bothered by price fluctuations and had already mastered digital assets.

When asked if he would immediately liquidate cryptocurrency deposits to eliminate volatility, Roberts gave a little clarity, stating, “This is all so new, we are studying and trying to embrace this move.”

In mid-May, Cointelegraph reported that investors could buy luxury apartments in Portugal with Dogecoin among other digital assets.

Also in May, it was reported that the luxurious Arte Surfside apartments in Miami, home to Ivanka Trump, were accepting payment for real estate in several cryptocurrencies including Bitcoin and Ethereum.