Crypto Billionaire closes 2021 with $ 133 million purchase of LA Estate

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Coinbase CEO Brian Armstrong is just the latest cryptocurrency billionaire to buy a lavish home as currencies like Bitcoin continue to attract followers.

The CEO of a major cryptocurrency trading platform bought a sprawling Bel Air property for $ 133 million, the Wall Street Journal reports.

Coinbase CEO Brian Armstrong bought the estate of two Los Angeles homes in December from a company linked to Japanese businessman Hideki Tomita, according to documents the newspaper examined.

The property comprises two massive houses. The first is a five bedroom, 6,600 square foot home that could almost be considered a mansion itself.

But this building is only the guest house. The property’s primary residence is a sleek and modern multi-story mega-home encompassing 19,000 square feet of interior space.

The newspaper reports that British architect John Pawson designed the mansion, which includes a theater, a tennis court, several swimming pools, a gym and a spa. Its master suite includes a hot tub and fireplace. Paul Williams designed the guesthouse.

At $ 133 million, the deal is one of the most expensive ever in LA Just three years ago, the previous owner bought the property for $ 85 million.

It’s a big leap, but Armstrong could afford to pay the premium.

The Coinbase platform, co-founded by Armstrong in 2012, has seen substantial growth in the crypto space. After the company went public in April and weathered the ups and downs of the months that followed, Armstrong’s net worth is now estimated at over $ 10 billion, according to a Forbes estimate.

Armstrong, 38, was the richest crypto billionaire on the Forbes 2021 list.

Bel Air’s estate was previously owned by Ellen Bronfman Hauptman, one of the wealthy heirs to the Seagram fortune, according to the Journal information.

Hideki Tomita, the most recent owner of the property, is CEO of Dip Corporation, a job search agency.

Armstrong is just the latest in a line of cryptocurrency tycoons to bank amid the continued popularity of currencies such as Bitcoin. Worldwide Asset eXchange co-founder Jonathan Yantis landed a huge estate in Colorado last month for $ 12.5 million, according to the Journal.

Architectural Digest posted photos of Armstrong’s Pawson-designed Main Mansion in 2017. See their slideshow here.

Email Daniel Houston

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