The middle The Wall Street revealed that Armstrong bought a home in Los Angeles for a whopping $ 133 million.
The CEO of CoinbaseBrian Armstrong bought a $ 133 million property in Los Angeles, people familiar with the deal told The Wall Street Journal. The transaction, which was completed in December, is one of the single-family home sales most expensive ever completed in the Los Angeles area.
The seller was a limited liability company affiliated with Japanese businessman Hideki Tomita, who bought the property for $ 85 million in 2018, records show.
The residence is located in Bel-Air.
Coinbase is the largest cryptocurrency exchange in the United States and the first major cryptocurrency-focused company to be listed.
For his part, Armstrong is the latest in a string of top crypto executives to have bought major homes in the US luxury markets in recent months. Jonathan Yantis, Co-Founder of NFT Blockchain Worldwide Asset eXchange, recently purchased an approximately 70 acre property outside Denver for $ 12.5 million.
From millionaire to millionaire
The Bel-Air property that Armstrong acquired was formerly owned by the daughter of the billionaire heir to Seagram, Charles Bronfman, reported The Wall Street Journal. At the time of sale in 2018, it was spread over 4.6 acres and included an approximately 19,000-square-foot (about 1,765-square-meter) mansion in minimalist style designed by British architect John Pawson, as well as a 5-bedroom guesthouse. designed by Paul Williams on an adjoining lot. .
The layout of the main house, which has five bedrooms and was built in 2009, looks like cubes stacked on top of each other, with the top hanging over the lower level, says the media. Heromag. It has a theater, gym, spa and double height dining room.
Armstrong, one of the earliest enthusiasts of Bitcoin, became one of the richest people in the world earlier this year when Coinbase was made public in April, reported The Wall Street Journal. According to the list Forbes, of crypto millionaires in the world, he would be the second richest, after Sam Bankman-Fried, owner of the exchange FTX. Armstrong owns 19% of the company Coinbase. His estimated net worth is $ 11.5 billion.
You can learn more about Armstrong in this story.
Version of Daily bitcoin
Picture of Unsplash (Los Angeles benchmark)