Road to Success

Blizzards are still forecast in the current “crypto winter,” but Peter Smith has a warm retreat waiting for him, should the long-term market chill really take hold. Though the deal actually went down way back in 2021, it turns out the Blockchain.com co-founder and CEO was the buyer who dropped $8 million on a hilltop Los Angeles house with panoramic views of the mountains, Santa Monica Pier, Pacific Ocean and Catalina Island.

Originally built in 1966 as a humble midcentury modern, the house underwent a significant mid ’90s remodel that transformed it into a snazzy contemporary. Another more recent remodel blessed it with a raised infinity-edge swimming pool reminiscent of one you’d find at a five-star Balinese resort, plus a full detached guesthouse with its own bedroom, bathroom, kitchenette, living room and laundry facilities.

The three-bedroom main house is defined by a huge, L-shaped great room that marries the living room, dining area and kitchen into a single open space. Walls of glass open the space up to outdoor patios and those big views, and the fully renovated kitchen offers a trove of high-end amenities — marble countertops, a walk-in wine cooler, a Wolf range, glass-fronted Sub-Zero refrigerator and dual Miele ovens.

Perhaps the home’s most unexpected feature is the giant granite tub that sits in the master bathroom, though the suite’s ocean views and dual walk-in closets are also worthy of any bitcoin brainiac. Elsewhere are two guest bedrooms, each with their own ensuite bath, an attached two-car garage, an outdoor shower and a backyard-accessible pool bathroom for wetsuit changing and the like.

Raised in rural America, per his Blockchain.com bio, 33-year-old Smith was one of the first to spot bitcoin’s massive potential and is widely regarded as a crypto pioneer. Today, his company has its international headquarters in Luxembourg, with a big U.S. hub in Miami, and Smith’s personal net worth is believed to be well into the nine figures.

And as major crypto companies go, despite layoffs and salary cuts, Blockchain.com has handled the market downturn better than most. One of the first bitcoin-focused firms in existence, it’s perhaps been overshadowed in recent years by newer and buzzier rivals like Coinbase and Binance, though the private company’s slower-growth strategy has helped it quietly amass $490 million in funding, and it would reportedly still command a $4 billion valuation in its much-rumored, allegedly upcoming IPO.