Coinbase’s CEO Brian Armstrong recently purchased an estate by dropping $133 million on what might be the most extravagantly priced, single-family house sale in Los Angeles. This nearly-five acre home was allegedly bought by the Japanese entrepreneur Hideki Tomita for $85 million in 2018. The entrepreneur linked with a limited liability firm to sell the estate.
Brian Armstrong co-founded Coinbase in 2012, which went on to become the largest cryptocurrency trading platform in the US today. According to The Street, its net worth is estimated around 9.6 billion dollars. It should be noted that, at the time of Coinbase going public in April, Mr. Armstrong officially became one of the richest people in the world.
The sale, closed in December and unveiled by The Wall Street Journal, makes Amrstrong the latest in a string of cryptocurrency executives to buy a house in the United States luxury markets, Mint reports. Other than him, Jonathan Yantis, the co-founder of the NFT blockchain Worldwide Asset eXchange, also recently bought an approximately 70-acre estate outside Denver for the price of $12.5 million.
More About The Estate
Design-wise, the house resembles two cubes stack on top of each other, while the inside comprises of five separate bedrooms, a theater, a gym, a spa and a double-height dining room. Reportedly, the house was formerly owned by the daughter of billionaire Seagram heir Charles Bronfman, before it was sold in 2018.
According to The Wall Street Journal, the total area under the house purchased spans up to 4.6 acres, whilst taking into account a 19,000 square foot mansion constructed in a minimalist-style. Said mansion was evidently designed by the British artchitect John Pawson, along with the five-bedroom, and Paul Williams-designed the guesthouse on an adjacent parcel.