Christie's International Real Estate, founded by one of the world's oldest and most influential auction houses, officially announced the establishment of a cryptocurrency real estate transaction department this week, opening a new channel for high-net-worth individuals that bypasses bank intermediaries while ensuring privacy and efficiency.
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The department is led by Aaron Kirman, Christie's Southern California executive, and was established after several large Bitcoin and cryptocurrency asset sales. According to reports, the department has a team composed of lawyers, analysts, and cryptocurrency experts responsible for managing digital transactions.
Previously, transactions involving millions of dollars in Bitcoin have occurred, including a property in Beverly Hills valued at $65 million, which was paid for using cryptocurrency. Kirman stated:
"The trend is very clear - cryptocurrency will continue to exist and will only grow in scale in the coming years."
Privacy and Efficiency Attract Ultra-High Net Worth Individuals
The key attraction for high-net-worth buyers is the ability to maintain high anonymity during transactions. Through a Limited Liability Company (LLC) structure, the buyer's identity remains unexposed, and even the seller may not know their identity.
Additionally, blockchain settlement is fast, with funds potentially arriving within minutes, eliminating bank review and cross-border transfer waiting times, further reducing costs.
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Currently, the company has handled the $118 million Bel Air La Fin mansion and the approximately $18 million Invisible House near Joshua Tree National Park, both of which now accept Bitcoin payments. The latter's owner, Chris Hanley, noted:
"Accepting cryptocurrency demonstrates an open attitude towards innovative buyers, including cryptocurrency millionaires and billionaires looking to diversify their wealth into tangible assets."
Moreover, Christie's International Real Estate is in discussions with banks to explore Bitcoin-backed financing options.
Policy Environment Promotes Next Stage
The recent passage of the CLEAR Act in the United States, along with the GENIUS Act for stablecoins signed by former President Trump, has provided clearer regulatory positioning for digital assets, sparking increased discussions about cryptocurrency-backed mortgages among banks.
From direct payments to potential mortgage loans, Bitcoin is occupying a more critical position in the real estate value chain. Christie's move not only helps deepen its service range but also symbolizes the formal intersection of traditional real estate and emerging financial technology.
