Florida as a new center of technological capital concentration
Representatives of the technological and cryptocurrency elite from California are increasingly viewing Florida as a priority alternative with a favorable tax climate. Investor Grant Cardone has put a mansion in Miami, covering over 900 square meters, up for sale for 700 $BTC . This offer highlights the growing integration of cryptocurrency assets into the ultra-high-end real estate segment.
The property listing coincided with a wave of relocations by wealthy individuals. Meta founder Mark Zuckerberg and his wife Priscilla Chan became the latest in a list of California billionaires who chose South Florida. According to available data, they are purchasing a beachfront estate in the Indian Creek area. This gated community has already become a residence for such notable figures as Jeff Bezos, Tom Brady, and Jared Kushner.
The seller of the property is a company associated with the founder of the Jersey Mike’s Subs chain, Peter Cancro. Although there is no official confirmation of the deal closing yet, industry sources expect the Zuckerberg family to relocate by April 2026.
The consequences of tax initiatives in California
Mass capital migration is occurring against the backdrop of discussions in California about a new tax on billionaires. This initiative has raised serious concerns among the state's wealthiest residents. Venture investor Chamath Palihapitiya noted that the total taxable wealth of billionaires in California has already decreased from $2 trillion to less than $1 trillion.
Palihapitiya criticized the actions of state authorities. He argues that the fiscal burden left by departing billionaires will eventually fall on the shoulders of the middle class. The investor emphasized that these individuals paid more than 13% in income tax annually without objection until the situation became critical.
Analysts from CNBC point to the 'domino effect': corporate leaders are often followed by their employees. This allows companies to optimize costs through lower tax rates in other states. Local real estate agents in Miami confirm a sharp increase in demand for ultra-luxury properties after the announcement of tax changes in California.
The role of cryptocurrencies in asset mobility
The current situation reflects global trends in capital mobility and the use of decentralized tools. Former Coinbase CTO Balaji Srinivasan warned that California's tax policy could undermine incentives for venture funding. In his opinion, this could diminish the significance of Silicon Valley as a global technology center over the next decade.
Local realtors are reporting a sharp increase in demand for elite real estate. According to Danny Hertzberg, a Coldwell Banker Realty agent in Miami, interest in the premium property market in South Florida has noticeably increased following news of the tax for billionaires in California.
While Florida attracts capital from the tech sector, the offer to sell a mansion for 700 $BTC becomes a symbol of a new era. Wealthy individuals are using digital assets and jurisdictions with soft taxation to protect their wealth.
