E11EVEN Hotel & Residences co-founder Marc Roberts says he is embracing cryptocurrencies and digital assets as payment for his luxury properties so as not to be left behind in the financial and technological innovation that cryptoassets represent.
“Those who do not accept this will be left behind”Said Marc roberts, co-founder of E11EVEN Hotel & Residences, during one interview on Fox Business. Roberts referred to the cryptocurrencies, and digital assets as a means of payment, noting that the level of adoption, growth and demand for these in recent years has been truly surprising.
For the co-founder of one of the most luxurious and in-demand condominiums in Miami, United States, cryptocurrencies are gaining ground in the real estate sector, with more and more buyers and investors interested in acquiring properties using crypto assets instead of fiat money. Roberts said that he was able to realize the “new reality” during his attendance at the conference Bitcoin 2021, held a few days ago in the city of Miami, where the enthusiasm that currently exists for this new class of digital assets was clearly evident.
E11EVEN Hotel & Residences is a luxury real estate complex being built in Park West in Miami and will be 65 stories high. The cheapest properties will start at around $360.000, while the penthouse could cost up to $10 million.
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Cryptocurrencies in Miami's real estate sector
Marc Roberts claimed to be the first to allow cryptocurrency deposits within the real estate sector in Miami, a move driven to not be left behind in new developments. As he clarified in the interview, this is one of the biggest decisions the firm has made and he considers it a “smart move” to innovate within the sector.
“We are very excited to be the first people to take cryptocurrencies for deposits on real estate”, Roberts said.
Offers before the official announcement
For his part, the co-founder of the luxury properties revealed that they have had a “brutal response” to this announcement, collecting an initial 10% of the price of one of their properties in cryptocurrencies, even before the company made the official announcement that it would accept crypto assets as payment.
Roberts also noted that the company is just a month away from collecting the second 10% or 15% deposit for the property, also in cryptocurrency.
Crypto interest on the rise in Miami
The conference Bitcoin 2021, which was attended by some 50.000 people, was the main driver of cryptocurrency in the city of Miami this year. Since the conference took place, local interest in cryptocurrencies and digital assets has skyrocketed, said Roberts, who foresees the movement continuing to grow in the future.
The company has not confirmed whether it will hold the cryptocurrencies or liquidate them to protect itself from the volatility that characterizes them. Roberts said he is studying the options with several advisors and will soon communicate his work plan.
For the moment, the executive reiterated that cryptocurrencies are a movement that cannot be stopped, as they are becoming more accepted among the new generations every day. “I don’t think this is something that is going to stop. I think the momentum is too strong.”, Roberts concluded.
Reservations with cryptocurrencies
The sale of its luxury properties in cryptocurrencies is not the first move that the firm has made within the ecosystem. Since April, the nightclub E11EVEN, located in an exclusive area of Miami and also owned by the firm, is accepting payments with cryptocurrencies such as Bitcoin (BTC), Dogecoin (DOGE) y Ripple (XRP).
Club customers can make their reservations online and pay with the cryptocurrency of their choice among the available options, he said. Gino LoPinto, partner of the real estate firm.
In addition to E11EVEN Hotel & Residences, Surfside Art also accepts cryptocurrencies as payment for its luxurious properties.
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