Commercial Real Estate Is Tiptoeing Back Into Crypto
This month, approximately $529K in bitcoin hit the digital wallet of Miami-based developers Rilea Group and Cipres. In exchange, they handed over the keys to a luxury condo unit at their under-construction The Rider Residences near the Wynwood neighborhood.
It was the group’s first direct wallet-to-wallet cryptocurrency transaction and among the few instances in which bitcoin has been used to trade real estate despite a bull run in 2020 and 2021.
“Even our attorneys were somewhat uneasy,” Rilea Group President Diego Ojeda said. “We do think that right now is the right moment to really be embracing this in the sense that we have less to worry about. It’s becoming a much more…
