Mysterious Buyer Snaps Up $51.5M Miami Mansion of Bitcoin Investor

A Georgian Bitcoin investor and financier has sold his Miami mansion on Hibiscus Island for $51.5 million, shattering records in the area.

The buyer's identity remains a mystery, but the sale is a significant move for George Bachiashvili, who was sentenced to 11 years in prison in absentia last March for allegedly embezzling cryptocurrency from his former boss, Georgia's most powerful man Bidzina Ivanishvili.

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

His sentence was suspended after a plea deal in February, and Bachiashvili was released from prison. Six months later, he listed the Miami home for $55 million, which sold 11 days later to an unnamed buyer for $51.5 million.