Christie’s is in fact the first United States firm to have opened a dedicated crypto real estate division. This decision, first covered by The New York Times, is another indicator of the ongoing collision between cryptocurrency and traditional finance. Aaron Kirman, chief executive of Christie's Los Angeles branch, is leading the charge in the creation of this new department.
Kirman took the daring step of launching this new division. His decision follows a couple years of observing big deals in which the buyer only used cryptocurrency. Cryptocurrency regulation The U.S. government is overhauling its strategy toward crypto. In addition to President Trump’s recent signing of the Genius Act into law to reinforce regulation of stablecoins and protect crypto investors.
In particular, Kirman was the main broker of a $65 million home sale in Beverly Hills. This deal was completed entirely in cryptocurrency. His team's proven track record in handling crypto transactions positions Christie's as a leader in this emerging market.
Kirman thinks that crypto’s role in real estate has significant room for growth. And he wouldn’t be surprised, he says, if in five years’ time that’s true for a third of all U.S. home sales.
Despite the tragedy and market turmoil, Kirman is optimistic about the future of crypto over the next few years. All of this points to the establishment of this crypto real estate division as another sign of the swift introduction of cryptocurrency into ubiquitous financial transactions.
The establishment of this new division is just one example of Christie’s forward-thinking approach and willingness to evolve with changing financial landscapes. By endorsing crypto for high net worth real estate transactions, Christie's is creating an example for the industry.
