Selling Sunset Star Says Crypto Real Estate Still Going Strong

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California is seeing some of the highest real estate deals of the year so far. Although interest rates in the US are soaring, high-end property on the west coast of the Americas has always attracted rich investors. And now, they are buying up properties in crypto as well.

Christine Quinn, biggest star of the Netflix reality TV series Selling Sunset, started crypto company RealOpen this year, which allows worldwide purchasers of Californian real estate, to make transactions in digital currencies.

Together with her husband Christian Dumontet, a tech entrepreneur and co-founder of the delivery service Foodler, she claims that the volatility of crypto this year has actually helped drive business.

“People are ready to diversify more than they ever were before because of uncertainty,” she explained. “Uncertainty actually creates hype and then creates sales. They want it and they want it now. They don’t want to have to wait.”

Selling Sunset’s Christine Quinn Takes Crypto For Her $34 Million Dollar Penthouse https://t.co/S9hQ42duAC #Homes #HomepageSlider #Properties #realestate #LuxuryRealEstate

— VITALIZE (@VitalizeOne) July 9, 2022

One big portion of her clientele are so-called crypto whales, who hold most of their wealth in digital currencies and want to diversify into real estate.

Christine said:

Crypto whales who hold a significant portion of their wealth in digital currency prefer to move fast in business, and buying property is no exception.

Condominium

Larger companies that want to invest in the US housing market admit that crypto sales are a growing subset. Over the summer PMG, a national real estate developer, started accepting cryptocurrency for all condominium sales in the US. The venture was done through a partnership with FTX, the crypto exchange founded by Sam Bankman-Fried.

By now, some 70 condos including at its projects E11even Hotel & Residences and Waldorf Astoria Residences in Miami, Florida, have started construction, all with a crypto deposit as collateral.