Bitcoin — once warily regarded as the domain of chumps and criminals — can now buy you a house.
One of the world’s largest luxury brokerages just launched a division solely dedicated to digital currency transactions.
Christie’s International Real Estate, known for its global portfolio and luxury clientele, shared the news with the New York Times this week. Its newly minted team of lawyers, analysts and crypto experts is expected to meet a growing demand for all-crypto real estate deals.
The bold move marks a first among major real estate firms.
Aaron Kirman, CEO of a Christie’s affiliate in Los Angeles, is spearheading the new division. Kirman has handled high-profile listings like the estates of Rodney Dangerfield and Cary Grant, as well as the former home of Yolanda Hadid and Kiley Jenner.
Kirman told the Times that the crypto trend in real estate is “only going to get bigger over the next few years.”
While it’s common practice for privacy-minded billionaires and celebrities to purchase properties behind anonymous shell corporations, even all-cash deals between iron-clad shell companies can be sleuthed out from time to time. Purchasing a home exclusively with cryptocurrency funds, rather than bank funds, essentially allows high-profile purchasers total anonymity.
Real estate deals made with crypto remain rare, but lucrative. Kirman closed a handful of high-end crypto deals over the last two years, he told the Times, including a $65 million Beverly Hills home.
Christie’s crypto-ready portfolio is reportedly worth more than $1 billion. Invisible House in Joshua Tree, a desert home with a totally mirrored facade, is accepting cryptocurrency offers equivalent to $18 million. A Bel Air mansion, dubbed La Fin, is worth $118 million, and currently stands as the priciest-ever home listed for crypto.
Roughly 14% of American adults today own at least some cryptocurrency, according to a recent Gallup poll. Buying a home with crypto leaves big banks, and the potential for a home loan, out of the picture — for now.
President Trump’s housing director, William Pulte, said in June he would instruct Fannie Mae and Freddie Mack to consider crypto assets as part of a homebuyer’s loan application. Washington DC is increasingly embracing digital currency under the Trump administration.
Kirman told the Times he is in talks with big banks to pave the way for homebuyers who have cryptocurrency to spend, yet still require financing — a potentially major step for both the real estate and crypto industries.
Christie’s did not respond to a request for further comment on the news.