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Bitcoin entrepreneur Kain Warwick is proving to be one of the best buyers in Sydney’s beachside eastern suburbs since the cryptocurrency boom, securing luxury houses from North Bondi to Tamarama and now Bronte for a total of $33.25 million.
The most recent purchase by the 40-year-old founder of derivatives trading platform Synthetix is the Bronte home of online gambling website founder Joshua Chan for $12.2 million – rumoured to be a home for his parents, Allana and Kim Warwick, the latter of whom is the renowned tennis legend and six-time grand slam champion.
Warwick’s purchase in a company name he owns with his wife Raphaella almost triples the $4.55 million Chan paid for the house in 2012 and was well above the $9.5 million guide offered by Raine & Horne’s Ric Serrao and PPD’s Alexander Phillips.
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Toby Allen, a former bitcoin trader and current head of trading for APAC at global options trading company Akuna Capital, turned 36 last week – and what better present to buy himself than the Palm Beach getaway of retired coal miner Trevor Bailey?
There were gag orders preventing Sasha de Bilde, of Pittwater Property, revealing the sale price, but sources say Allen paid about $13.5 million, which is a little more than the $13 million it passed in for at last month’s auction.
The sale price didn’t quite reach the $14.95 million original hopes this year, but is almost double the $7 million it last traded for in 2013 when sold by opal exporters Lyn and Tom van Brugge.