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- A $59 million mansion on a 300-acre island in Miami is now accepting Bitcoin as payment.
- The listing could set a new record for the most expensive real estate bought with cryptocurrency.
- It's located in "Billionaire's Bunker," a high-security enclave home to Tom Brady and Ivanka Trump.
This $59 million mansion in Miami's star-studded Indian Creek neighborhood is now accepting payment in Bitcoin.
The mansion sits on a 300-acre island known as "Billionaire's Bunker" connected to Surfside, Miami by a single bridge. The only entrance is patrolled by members of the community's private police force.
The wealthy enclave earned its name thanks to its high-profile residents including Tom Brady, Gisele Bündchen, Ivanka Trump, Jared Kushner, and Enrique Iglesias.
It borders the Indian Creek Golf Course, home to an exclusive country club that was accused of discriminating against Black and Jewish residents in the early 2000s, local outlets reported. The club denied the allegations, according to The Wall Street Journal.
Developer Todd Michael Glaser bought 37 Indian Creek Island Road for $24 million last summer from the TV host known as "Don Francisco," per the Miami Herald.
Source: Miami Herald
The original home will be demolished and replaced with a "tropical modern playhouse," a spokeswoman for Glaser told Insider. It's scheduled to be move-in ready within 18 months.
The spec home also features a four-car garage, pictured in the digital rendering below.
Its backyard contains "lush landscaping," 134 feet of water frontage, a large deck, pool, and tanning beds, the listing says.
When asked why he decided to accept bitcoin for this project, Glaser said: "If Gucci accepts bitcoin, then Todd Michael Glaser will too."
"I think this would be a game-changer for the industry," the listing's realtor, Dina Goldentayer, told Insider. "As more methods of crypto conversion become popularized, and sellers become more comfortable with the process, buying and selling real estate with crypto is bound to become more common."
The announcement comes amid a volatile week for bitcoin, which dropped 50% in value from its record-high on Thursday. But Glaser sees this as a potential upside for the listing as crypto holders may be looking to cash in and buy hard assets, he said.
Goldentayer believes the home will attract "a large family or a tech bachelor with an extended entourage who wants the highest level of luxury and privacy" and has a love for modern architecture.