Cryptocurrency Tycoon Sells One of Lake Tahoe’s Priciest Homes for a Staggering $47.5 Million

A cryptocurrency multimillionaire has just offloaded a stunning Lake Tahoe property for $47.5 million, making it one of the most expensive properties to ever be sold in the upmarket area.

Jeffrey Berns, the founder and CEO of tech company Blockchains, had listed the 11,843-square-foot lakehouse for a staggering $50 million in June. The sale price represents a $2.5 million discount.

According to listing agent Clif Chase, of Chase International Luxury Real Estate, the speedy sale of such a pricey property is very rare for Lake Tahoe. However, he noted to the Wall Street Journal that there are several special elements about the home that make it so desirable.

First, the 150 feet of lake frontage that comes with the home. Second, the many lakeside amenities, including a boat lift, shared deep-water pier, and a buoy.

Then there is the layout of the lot, which is large and flat, a rarity in the area.

An entertainer’s oasis

Located in Incline Village, NV, the home features four bedrooms and 4.5 bathrooms, as well as an array of luxurious amenities, including a 1,200-bottle wine cellar, a lakeside office, a 2,500-square-foot garage, and a heated driveway.

The large home theater comes complete with plush chairs and stunning wall art capturing the natural beauty surrounding the property.

The open-plan design makes the home perfect for entertaining—while the enormous windows offer breathtaking views of the home’s verdant surroundings.

“The lavishly landscaped grounds are level to the lake, offering endless entertainment opportunities,” the listing states. “Enjoy a generous backyard that is bisected by a year-round creek with perennial gardens and stately evergreens framing Lake Tahoe in the back drop. 

“The mountain modern home offers a thoughtful, open floor plan with high ceilings and picture windows throughout.”

Moving on

Berns and his wife, Mary, purchased the home, which was built in 2005, in 2021 to be closer to their daughter’s school. They quickly set about overhauling the property.

“We redid everything,” he told the Journal when he initially listed the home. “We changed all the fixtures, all the furniture.”

However, when he and his wife divorced about 18 months after purchasing the home, it effectively became “a turnkey property,” he admitted—citing that as his reason for selling.

Interestingly, despite pouring plenty of time and energy into redoing the home, Berns has not made any profit on it, selling it for the same price that he paid.

It seems that Berns was fairly eager to walk away from the home quickly and cleanly, even including the furniture and a boat in the sale price.

After his divorce, the multimillionaire relocated to Las Vegas, where he has purchased a $25 million property in the Spring Valley area.

According to the Journal, that home was originally built for Prince Jefri Bolkiah of Brunei, and Berns plans to complete work on it while living there.

Battle of the big bucks

Had Berns achieved his original $50 million asking price on the Lake Tahoe property, it would have held the title for the region’s most expensive property, alongside a $50 million home that was sold in 1998.

In 2017, a property located in nearby Crystal Village was put on the market for the record-breaking price of $75 million. That eight-bedroom home has been on and off the market since then. Most recently listed for the reduced price of $49.5 million in June 2023, it has yet to find a buyer.