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Analysis

BitMEX Officially Rents The Most Expensive Offices In Hong Kong

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Over the past few years, cryptocurrency exchanges have made many leaps forward and are currently seen as the leaders in terms of financial stability and serious companies in the business world. One of them is BitMEX, which is among the largest crypto exchanges out there.

According to the Hong Kong Economic Times, BitMEX has just taken occupancy of the most expensive office sin the world – occupying the Cheung Kong Center’s 45th floor.

If you haven’t heard about the business climate in Hong Kong, you are not the only one. However, what you should know is that the country of Hong Kong has been ranked as the world’s freest economy for the past 18 years – mostly because of the former British territory’s low tax rates, lack of trade tariffs, small government and stable financial markets.

As the report by Hong Kong Economic Time outlines, the average rent per square foot at BitMEX’s new location is $28.66 – which is nine times higher compared to the $3.18 per square foot that BitMEX was paying at its old headquarters – a warehouse district named Victoria Harbor in the located outskirts of Hong Kong.

With this, BitMEX is paying a higher price than the old record of $26.75 paid per square foot for an office unit in central Hong Kong 7 years ago. The tenants that BitMEX will share the space with include Bank of America Corp., Barclays Plc., Bloomberg LP, Goldman Sachs Group Inc. and the Securities and Futures Commission of Hong Kong.

Meanwhile, the economy in Hong Kong has managed to attract several high-profile crypto and blockchain firms – such as Block.one which leased more than 16,600 square feet of space in Hong Kong’s Central Plaza.

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Scott Galloway Of UCLA Believes Crypto Will Get Worse In 2019

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