Coin market cap
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- The Trump Organization has announced it will accept cryptocurrency payments for luxury apartments in its upcoming $1 billion Trump Tower Dubai project
- Eric Trump confirmed that Bitcoin and other digital currencies will be accepted for condo purchases in the development
- The project, in partnership with Dar Global, is set to begin construction in late 2025 and aims for completion within five years
The Trump Organization has revealed that it will accept cryptocurrency payments for luxury apartments in its forthcoming Trump Tower Dubai. Eric Trump, Executive Vice President of the Trump Organization, confirmed that Bitcoin and other digital currencies will be accepted for condo purchases in the $1 billion development, which is slated for completion in five years. Built in partnership with Dar Global, construction of the tower is slated to begin later this year, with the adoption of crypto payments signaling a major shift in the acceptance of crypto for real estate.
Coin market cap ‘Do Buy’ Apartments in Crypto
The revelation that the $20 million Trump Tower Dubai apartments will be purchasable through cryptocurrency was made by Eric Trump in an interview with The National. In the interview, Trump emphasized the significance of the development:
This is going to be the first large-scale project that takes Bitcoin to buy units. That’s exciting because I love that world and believe in cryptocurrency.
While specific cryptocurrencies accepted have not been detailed, Bitcoin will naturally be accepted, with fans of other coins waiting to see if theirs will make the cut.
Coin market cap Project Details and Strategic Partnerships
Situated at the entrance of Downtown Dubai along Sheikh Zayed Road, Trump Tower Dubai is poised to become a landmark in the city’s skyline. The development will feature a Trump-branded hotel, ultra-luxury residences, a private clubhouse named The Trump Private, and two penthouses each priced at approximately $20.4 million.
Standard apartments are expected to range between $1 million and $5 million. The project is a collaboration between the Trump Organization and London-listed real estate developer Dar Global, marking their third joint venture in the Middle East.
The intersection of crypto and real estate has been slow to take off, with the odd sale or two making the headlines but nothing on this scale known before. With money laundering checks now more stringent than ever, it is hoped that the use of crypto to buy property will become more accepted, with the Trump Tower Dubain project hopefully assisting in that venture.
