US heiress and socialite Paris Hilton’s father Rick, the chairman of Hilton & Hyland, is selling a fabulous $38 million Rome mansion through a fiat/cryptocurrency auction. The 16th century building comes complete with 11 bedrooms and 15 bathrooms.
For almost a century, the name Hilton has been synonymous with affordable luxury hotels. Founded by Conrad Hilton in 1919, by 2017 there were more than 570 Hilton Hotels around the world, located in 85 countries across six continents.
In recent years, the name Hilton has regularly made the headlines thanks to young socialite Paris Hilton, daughter of Richard Hilton, the company’s chairman. Paris, now 37, has had a high profile throughout the 21st century, due mainly to starring in her own reality TV show, acting in several movies and releasing her own pop album.
$38 Million Mansion Auction: Bitcoin Accepted
Now it’s the turn of Paris’s dad to make the news. Richard “Rick” Hilton is selling the $38 million “Palazzetto” style mansion through a fiat currency plus cryptocurrency auction. Located in the Italian capital of Rome, the 16th century mansion has 11 bedrooms and 15 bathrooms, 3 kitchens, plus a movie theatre, a spa and a gym.
To host the upcoming auction, Hilton has partnered with Propy, a crypto-based real-estate platform. The auction will take place on June 28 (3 PM ET), and registration for prospective buyers will be available until June 27. Interested parties can bid using either US dollars or cryptocurrency, although in order to do the latter, they must first open an account with Propy. Said Rick Hilton:
“The auction shows real estate’s growing trust in blockchain and provides crypto investors an opportunity to diversify and solidify their portfolio with a trophy asset.”
In recent years there has been a marked increase in the number of luxury property owners who have indicated that they would be happy accepting cryptocurrency payments in real estate transactions.
A recent example of a crypto-property-purchase is Aston Plaza & Residences, a luxury complex located in Dubai, which sold fifty apartments to Bitcoin owners in February 2018.