Paris Hilton’s Father to Sell $38 Million Palazzetto Mansion for Equivalent Crypto
Richard Hilton has recently partnered with Propy, a crypto-backed real estate platform, to list his $38 million mansion, widely known as the Palazzetto Mansion, for sale. Hilton will supposedly only accept USD or cryptocurrencies during the bids. As for the entire auction, the dates have been set from June 27 to June 28 (3PM Eastern Time). Keeping volatility in mind, Hilton stated that he will be sticking to the original accepted bid.
Hilton’s support is evident, as he states the following:
“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.”
The Hilton family has been continuously making efforts to support blockchain technology. For instance, Richard took on the role of senior advisor for AQUA Intelligence, a blockchain-based consumer profile (data) system.
Paris Hilton also took a dive at cryptocurrencies by endorsing Gravity4’s Lydian token, which she eventually stopped supporting after the CEO of Gravity4, Gurbasksh Chanal was faced with legal concerns
A Look Inside the $38 Million Mansion
As for Hilton’s mansion, it has been revealed that it was built in Rome during the 16th century. It has a total of 11 bedrooms, 15 bathrooms, 3 kitchens, living rooms and bathrooms, a movie theater, spa, separate entrances, and a fitness center to name a few.
Many individuals and real estate firms are introducing the likes of Bitcoin and cryptocurrencies to consumers. An issue that may arise, like in Paris Hilton’s case, is endorsing the wrong project or a scam. The Securities Exchange and Commissions (SEC) strongly hopes that celebrities will do their own research because the failure to do so, along with endorsing scams, can result in pressed charges.