Eric Trump, Vice President of the Trump Organization, has confirmed that cryptocurrency payments will be accepted for luxury apartments at the company’s newly announced luxury real estate project in Dubai.
Trump’s Dubai Project Merges Crypto And Real Estate
The upcoming Trump Tower in Dubai will accept Bitcoin and other unspecified cryptoassets for real estate purchases.
This $1 billion project is under development in collaboration with the London-listed Dar Global. It marks the Trump Organization’s latest venture into Dubai’s red-hot property market and institutional adoption of digital asset payments in high-end real estate.
Speaking to The National in the UAE, Eric Trump, the U.S. president’s son, lauded Dubai as having become “a destination for the entire world.”
“It’s become such a safe haven for so many people, so many countries, so many people want to put money here,” he raved. “So many people want to invest here, from all over the world, all over Europe, the Asian continent, all over Africa. Dubai has really become the epicentre.”
The Trump International Hotel and Tower, announced earlier this year, will feature a branded hotel, deluxe residences, a private clubhouse, and the world’s highest pool. Notably, the project is expected to be completed in roughly five years. It will be located at the entrance of Downtown Dubai on Sheikh Zayed Road.
Prices for apartments range from $1 million to $1.3 million for three- and four-bedroom units, and two ultra-luxury penthouses are anticipated to cost $20.4 million each.
The Trump Family’s Ever-Increasing Involvement In Crypto
The unveiling of new Trump family-related crypto endeavors shows no signs of slowing down. In recent months, the United States president, through companies he’s directly connected to, not only closed a deal with crypto exchange Crypto.com to introduce “Made in America” exchange-traded funds (ETFs), but also various members of his family are ambassadors and backers of the DeFi project World Liberty Financial.
The billionaire president also launched his own Solana-based meme coin, TRUMP. The memecoin experienced a significant surge in price and volume recently after the team behind it announced that high-tier holders would have a chance to attend an exclusive dinner with President Trump.
Despite the recent spike, the Trump token is still down over 80% from its all-time high above $73, which it saw shortly after launch.
