You Can Now Buy London's Most Expensive Property With Bitcoin You Can Now Buy London's Most Expensive Property With Bitcoin

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You Can Now Buy London's Most Expensive Property With Bitcoin

updated on:16 Apr 2021

What may be the most expensive property currently on the market in the United Kingdom is now being sold with an eye-watering price tag of £175 million (~$241 million)—and the seller is reportedly taking offers in Bitcoin (BTC) and Ethereum (ETH).

The property is a penthouse in the One Hyde Park development, located in London's prestigious Knightsbridge district. It features a whopping 18,000 square feet of living space, equivalent in size to around 23 regular London homes. It counts five sizeable bedrooms, a cocktail bar, a private gym and spa, and a wine room with capacity for 750 bottles, among its many lavish details. It also comes with four parking spaces and two wrap-around terraces to boot.

One Hyde Park is a massive residential and retail complex situated right next to the Royal Park of the same name. It's being sold by property tycoon Nick Candy, one of the figures behind some of the UK's largest property developments in recent years, including NoHo Square and Chelsea Barracks—also located in London. The sale is being brokered by estate agents Savills Plc and Knight Frank.

Should you wish to purchase it at the asking price with crypto, you'll need to cough up a staggering 3,865 BTC or 98,590 ETH at current rates. The property mogul told Bloomberg that the penthouse is "a world-class real estate asset in the heart of London that will continue to perform as a solid investment for years to come."
However, given that the average property price in London increased by 5.3% in the last year, while the price of Bitcoin appreciated by 112.8% in 2021 alone, it may turn out to be a less lucrative opportunity than it first appears.

If sold for cryptocurrency, the apartment will become one of the most expensive assets ever bought with crypto in recent years—easily eclipsing the $69 million that was paid for a Beeple NFT earlier this year.

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