Bitcoin Investor Giorgi Bachiashvili Sells Miami Mansion for Record $51.5M

Giorgi Bachiashvili, a Georgian businessman and Bitcoin investor, has sold his Miami mansion for $51.5 million after being released from prison just six months prior. The sale set an all-time record for Hibiscus and Palm Islands in Miami, where the property is located.

Bachiashvili's life has been marred by controversy, including allegations of misappropriating cryptocurrency belonging to his former boss, Georgia's former Prime Minister Bidzina Ivanishvili. He was sentenced to 11 years in prison but was released after a plea deal, with the terms of his sentence suspended.

The mansion itself is an ultra-modern estate featuring five bedrooms, staff quarters, and lavish amenities such as a soundproof home theater and private boat docks capable of accommodating a yacht up to 105 feet long. Bachiashvili purchased the property for $19 million in 2021 and commissioned prominent architectural firm SAOTA to design it.