Author: Zhou, ChainCatcher
In the fourth quarter of 2025, as Bitcoin soared past $120,000 to reach a historic high, crypto billionaires have quietly shifted their focus to traditional real estate for hedging.
According to Bloomberg, Stani Kulechov, the founder of the DeFi platform Aave, purchased a five-story Victorian-style mansion in Notting Hill, London for £22 million (approximately $30 million). The transaction was completed in November 2025, during a period of high volatility in Bitcoin prices.
Amid the UK Labour government's increase in stamp duty and the cancellation of tax incentives for ultra-high-net-worth foreign residents, the London luxury property market has continued to face pressure, with the transaction volume of homes priced over £5 million dropping by about 40% year-on-year in December 2025. This deal has become one of the highest-priced cases in London's high-end residential market in nearly a year.
Reports indicate that Kulechov's transaction occurred a week before the UK budget announcement, coinciding with a period of intensified policy adjustments and market weakness. The final price was approximately £2 million lower than the guidance price previously set by the agency. As a pioneer of the DeFi lending platform, he manages over $50 billion in locked assets on Aave.
Previously, several crypto executives or founders have also been reported to purchase luxury homes. In March 2025, Brendan Blumer, CEO of Block.one (the parent company of Vaulta, formerly EOS Network) and chairman of Bullish, bought Villa Romazzino in Costa Smeralda, Sardinia, Italy for nearly €170 million. This mansion is one of the most luxurious properties on the Emerald Coast and was previously owned by former Saudi oil minister Ahmed Zaki Yamani.
Earlier in 2022, Coinbase CEO Brian Armstrong purchased a top-tier mansion in Bel Air, Los Angeles for $133 million. This property was transferred from a Japanese entrepreneur and was considered one of the most expensive real estate cases among crypto executives at the time.
Before the collapse of FTX, Sam Bankman-Fried used platform funds to acquire over 30 luxury homes in the Bahamas, with a total value exceeding $240 million. This included a penthouse at Albany Orchid and a plot in Old Fort Bay, which were exposed during the bankruptcy liquidation process in 2023 through creditor reports.
Bijan Tehrani, co-founder of Stake.com, bought a historic mansion in Manhattan, New York for about $47 million in 2023, which was originally owned by JPMorgan legend David Rockefeller.
Ed Craven, another co-founder of Stake.com, acquired multiple high-end properties in Melbourne, Australia, including a mansion on St George’s Road in Toorak valued at over $80 million and a property on Orrong Road worth $38.5 million.
NFT collector and crypto magnate Huang Licheng purchased a mansion in the Bird Streets community of Los Angeles for $25 million in 2023.
Additionally, there are cases of crypto-related individuals selling luxury homes. In September 2025, American entrepreneur Grant Cardone listed his beachfront mansion in Golden Beach, Miami for 400 Bitcoins (approximately $43 million). The property was originally purchased from Tommy Hilfiger and completed the transaction within 72 hours of being listed.
It is evident that these transactions are concentrated in high-end global areas such as London, Los Angeles, New York, the Italian coast, and Miami. The timing of these disclosed luxury home acquisitions often occurs at the peak or tail end of a bull market, where wealthy individuals tend to lock in some profits at their wealth peak and turn to physical assets for hedging.
Recently, Sotheby’s International Realty released the 2026 Luxury Outlook Report, indicating that cryptocurrencies are increasingly influencing luxury goods purchases, especially in markets like Dubai, New York, and California. Sellers in these regions are already accepting direct crypto payments, and the proportion of high-net-worth individuals holding crypto assets has significantly increased.
The report also mentioned that regulatory changes may allow crypto assets to be counted towards mortgage qualifications, further facilitating financing for holders to purchase homes. It is expected that by 2030, the scale of loans secured by Bitcoin will grow significantly.
The acquisition of luxury homes by crypto entrepreneurs is not only a personal wealth choice but also reflects the ongoing penetration of digital assets into traditional sectors.
This trend is also evident beyond real estate.
At the end of January, the spot price of gold reached a multi-decade high, surpassing $5,600 per ounce. The massive gold-buying actions of Tether, a leading crypto company, have also attracted attention. As the issuer of the world’s largest stablecoin USDT, it has accumulated approximately 140 tons of physical gold, valued at around $24 billion, making it one of the largest gold holders among non-government entities.
The company purchased over 70 tons of gold in the past year, adding 27 tons in the fourth quarter of 2025, and continues to buy at a rate of 1 to 2 tons per week, amounting to about $1 billion per month. This gold is primarily stored in high-security vaults in Switzerland to support its reserves and back the gold-pegged token XAUT.
Tether CEO Paolo Ardoino stated that the company plans to allocate 10% to 15% of its portfolio to physical gold and will maintain this purchasing pace in the coming months.
Essentially, Tether's gold strategy and the actions of crypto entrepreneurs turning to luxury homes both reflect the logic of digital wealth holders seeking more stable, physical assets, indicating that the penetration of digital assets into traditional sectors may have become an irreversible trend.
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