As the popularity of cryptocurrencies rises and their use in making payments increases, Justin Bieber’s manager, Scooter Braun, has sold his mansion for $18.5 million in bitcoin (BTC). More and more persons are turning to the use of digital assets making payments including in buying and selling real estate properties.
Scooter Braun is a renowned Los Angeles-based media mogul besides being an executive talent manager best known for offering management services to pop singer Justin Bieber.
According to the Wall Street Journal, the sale is the largest crypto real estate transaction in the history of Texas and definitely one of the largest crypto transactions in the United States.
The buyer of the lakeside Austin property is Wayne Vaughan, the CEO of Tierion, a company that uses blockchain to store data.
The transaction was a cash-to-crypto exchange with Scooter Braun receiving the payment in Bitcoin (BTC) and the payment was made to an LLC company associated with Scooter Braun in January this year.
According to Property records, Scooter Braun had purchased the real estate property in 2020.
Crypto and real estate
Wealthy investors are increasingly turning to use cryptocurrencies in purchasing real estate. However, the majority of those using crypto to make payments are wealthy cryptocurrency investors.
Last month, the high-profile lawyer and former mayoral candidate, Tony Buzbee, put his house in Houston up for sale and indicated that he is open to accepting payment in bitcoin (BTC).
In September 2021, Magnum Real Estate Group said that it would also accept bitcoin as payment for its $29 million luxury residential project in Manhattan. Another real estate firm that announced it would be open for crypto payments in 2021 is New York-based real estate brokerage firm Algocap Real Estate, which said it was open for Dogecoin, Bitcoin, and Ethereum payments.