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Miami Real Estate Company Receives Deposit in Crypto

The adoption of Bitcoin for everyday transactions is gaining momentum. The latest to accept Bitcoin as a payment method is E11EVEN Hotel and Residences. The company has already received deposits in Bitcoin.

Commenting on this development, the company’s co-founder Marc Roberts said they were the first property company to accept payments in crypto. Roberts added that the reception that they had received so far was incredible.

He notably stated that the level of acceptance in Miami specifically was quite impressive. This was driven by the Bitcoin Miami Conference that happened earlier in the month. The conference was well-received and was attended by more than 50k people.

Marc further stated that they had received a hugely positive response since they said they would start accepting crypto. He added that they expected to receive their second crypto deposits in a month and that it would be about 15% of the total property value.

The company sells luxury real estate in Park West, Miami. The properties start at $377,400, and it has 375 units. According to a real estate agent familiar with these properties, the penthouse is expected to sell for up to $10 million.

Still, on crypto, Roberts stated that the decision to accept crypto is one of the best they have made so far. He added that anyone not accepting crypto could be left behind. That’s because, as he put it, the shift is towards more people making their purchases in cryptocurrencies. He also noted that while the market was volatile, young investors were unfazed by the volatility.

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