Miami-based E11EVEN Hotel and Residences is claiming to be the first real estate company to allow deposits for belongings purchases in the grade of cryptocurrency.

Speaking to Fox Business organization, company and condominium projection co-founder, Marc Roberts, stated the enthusiasm for crypto has been "really astounding".

Roberts noted that local interest in crypto assets had piqued amid the contempo Bitcoin Miami conference — which took place before this month and drew crowds of approximately l,000 according to its organizers.

He noted there has been a "tremendous response" to E11EVEN's announced support for crypto, adding it had already collected its first deposit in crypto before officially announcing it would accept digital avails.

Roberts added that E11EVEN is now roughly one month abroad from collecting its second crypto deposit, predicting the down payment will be worth betwixt 10% and xv% of the belongings's sale price.

The company offers plush high-ascension residences in Miami'south Park West district. Prices for the lavish units commencement at $377,400, according to real estate agent Miami Residential. The 65 story condominium has 375 units, with the penthouse expecting to fetch as much every bit $10 million.

Roberts described supporting crypto as one the firm'due south "greatest decisions," warning: "those that don't embrace [crypto] volition be left behind:"

"I think the whole motility is trending towards more than buyers paying in crypto and we are very excited to exist the first people to take cryptocurrency for deposits on real estate."

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The existent manor mogul acknowledged the volatile nature of digital avails, but was confident that the younger generation is unperturbed by price fluctuations and have already embraced digital avails.

When asked if he immediately liquidates crypto deposits to eliminate the volatility, Roberts offered little clarity, stating: "Information technology's all and so new and we're studying and we're trying to embrace the movement."

In mid-May, Cointelegraph reported that investors could purchase luxury apartments in Portugal using Dogecoin amongst other digital assets.

Also in May, information technology was reported that Miami'south Arte Surfside luxury apartments, home to Ivanka Trump, were accepting payment for real estate in multiple cryptocurrencies including Bitcoin and Ethereum.