Bitcoin Billionaires & Crypto Kings

The cool young kings of cryptocurrency have emerged as ultra-luxury real estate’s new power players

- By Jared Paul Stern

The numbers are staggering: according to a recent report by Coldwell Banker Global Luxury, the amount of money invested in luxury real estate in 2021 was greater than 2019 and 2020 combined. And according to data compiled by appraiser Miller Samuel, at least 40 residential properties sold for more than $50 million in the U.S. alone, setting a new record in the ultra-luxury sector. Helping it all along, the world’s 500 richest people added more than $1.2 trillion to their fortunes in 2021, according to the Bloomberg Billionaires Index, “powered by booming stock markets and central banks flooding economies with new money.” In addition, dozens of new billionaires were minted in 2021 thanks to “initial public offerings, SPAC deals, and cryptocurrencies,” Bloomberg notes, the latter in particular responsible for adding many billions in net worth.

While many are in the market for properties in the most desirable areas of the USA, global luxury real estate markets have seen amazing growth as well, particularly in places with advantageous tax arrangements. The new crypto rich are “taking a page out of hedge funds’ books” in this regard,