Talent manager and media executive Scooter Braun sold a lakefront Austin mansion for $18.5 million in Bitcoin — representing the largest cryptocurrency real estate deal in Texas history and among the largest in the country.
The deal was a cash-to-coin transfer, a source told The Real Deal, with Braun receiving Bitcoin as payment. The buyer was Wayne Vaughan, co-founder and CEO of Tierion, a blockchain-based data company, the Wall Street Journal reported. Vaughan is also a high-profile commentator on cryptocurrency and previously founded the tech company now called Fuscient.
The 7,400-square-foot home is located on a nearly two-acre property on Lake Austin, several miles north of downtown, and has six bedrooms and seven full bathrooms. It also has features including marble countertops and herringbone floors; the property is located on a bluff at the end of a cul-de-sac and includes roughly 320 feet of waterfront, as well as a large deck with a pool.
Last year Braun — a music tycoon who launched his own media company and has managed stars including Justin Bieber and Arianna Grande — paid $65 million for a mansion in the Brentwood district of Los Angeles, one of the highest-ever prices in the toney Westside enclave.
Buyers who made their fortunes through cryptocurrency have recently made plenty of splashy purchases, particularly in L.A., but relatively few real estate deals have occurred in which cryptocurrency is actually used for payment. The largest to date was a $22.5 million penthouse deal in Miami that closed last June; two condo units in Miami have also closed for around $7 million in cryptocurrency.
It’s unclear how many other cryptocurrency property deals have closed in Texas, but the state — which has emerged as a tech hub anchored by Austin — and its leaders have been aggressively courting the industry. One promotional effort aims to foster Texas as a new Bitcoin mining hub.