Bachiashvili's $51.5M Miami Mansion Sale Sets New Record

Giorgi 'George' Bachiashvili, a Georgian Bitcoin investor and financier, has sold his just-built Miami mansion on Hibiscus Island for $51.5 million.

This sale sets a record for Hibiscus and Palm islands, surpassing a 2024 sale of $40.25 million by Daniel Liburdi, known as the 'mysterious Miami party boy.'

Bachiashvili listed his property in mid-August after being released from prison earlier this year, where he had been sentenced to over 11 years for allegedly embezzling cryptocurrency from his former boss, Georgia's most powerful man, Bidzina Ivanishvili.

However, Bachiashvili denied the charges and claimed they were politically motivated. He was later abducted from Abu Dhabi and brought back to Georgia, where he was imprisoned by his ex-boss.