Chief executive of Hong Kong-listed digital asset platform pays US$7.2 million for Happy Valley flat as bitcoin soars to record high
- Hugh Douglas Madden, CEO of BC Tech Group, bought a 1,953 sq ft flat at the Winfield Building in Happy Valley
- The price works out to HK$28,674 per sq ft for the four-bedroom flat, which comes with a parking space
The head of a Hong Kong-listed digital asset platform has paid HK$56 million (US$7.2 million) for a property in the upper-income neighbourhood of Happy Valley.
Cryptocurrency veterans have made millions from the explosive development of blockchain technology and sharp increase in the value of digital assets. Bitcoin, Ether and Dogecoin – a tongue-in-cheek, meme-ified version of bitcoin launched in 2013 with a Shiba Inu as its mascot – have hit record highs.
The price works out to HK$28,674 per sq ft for the four-bedroom flat, which comes with a parking space. It was put on the market for HK$58 million.
Brokers familiar with the deal said that the buyer did not bargain much over the price of the flat. They added that the property has been bought for self-use and that Madden likes the neighbourhood as he is familiar with Happy Valley. BC Tech did not reply to queries from the Post.
