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Cryptocurrency billionaire buys mansion in Los Angeles for $133 million

Cryptocurrency billionaire buys Los Angeles mansion for $133 million

The cryptocurrency market has been creating billionaires across the globe and it is not only the early adopters, those who bought Bitcoin (BTC) or critpocurrency in its early days but also the entrepreneurs of the cryptoactives universe.

So recently a survey revealed that Binance's founder, known as CZ, may be the richest man in China, trumping all the rulers and owners of tech giants like Alibaba and Tecent.

And, more recently, another crypto billionaire would be Brian Armstrong, CEO of Coinbase, the largest cryptocurrency exchange in the United States, who allegedly made a purchase of a multi-million dollar property.

Therefore, sources revealed that Armstrong purchased a property valued at more than $133 million in Los Angeles. The mansion would be owned by Japanese businessman Hideki Tomita.

So, according to The Wall Street Journal, Tomita originally bought the property for $85 million in 2018 and now, with the resale, in addition to the multi-million profit it has also set a new record as the most expensive mansion ever sold in the city of celebrities.

billionaires

So just like every house in the region of billionaires USA , where he also lived Elon Musk, before being sold to Tomita, the Bel-Air property belonged to Ellen Bronfman Hauptman, daughter of the heir to the Seagram billionaire Charles Bronfman.

That way the mansion would have a theatre, a gym and a double-height dining room. The property also had a guest house designed by Paul Williams.

Therefore, with the purchase of the Coinbase co-founder, he would have entry to the select group of cryptocurrency billionaires, as he has one with a supposedly 19% stake in the exchange which would make his estimated net worth of US$ 14.7 billion in November 2021.

So he would be one of the richest critpocurrency investors in the world alongside the founder of the FTX exchange, Sam Bankman-Fried. Armstrong was also named the world's largest cryptobillionaire by China's Hurun Research Institute in March 2021.

Thus, cryptomeda executives have been buying more and more real estate recently. Jonathan Yantis, co-founder of the non-fungible token platform Worldwide Asset eXchange, purchased a 70-acre property outside Denver for $12.5 million in mid-December.

Also read: Bitcoin is on edge and ready to drop to $41,000, expert says

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