Luxury Flats That Can Be Purchased Using Bitcoin Have Almost Sold Out

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An ambitious plan that was turned into reality by a high profile entrepreneur couple to put a luxury development in Dubai up for sale that can be purchased with the use of bitcoin has almost sold out.

The woman behind the Ultimo bra brand, Baroness Michelle Mone, and Douglas Barrowman, a businessman, have sold almost all of the 50 properties that they have so far put up for sale in the cryptocurrency.

The apartments are part of a broader development of over 1,000 luxury flats in two 40-storey towers in a plush development plan that will also include a shopping mall.

Mone and Barrowman informed reporters that one tower of the apartments has now been sold in both conventional cash and bitcoin, while only a couple of an initial batch that are set aside for bitcoin buyers are still on the market.

Mone described the interest in the venture as “unbelievable” and “phenomenal,” while Barrowman said that it was a “great success.”

Mone added: “You’ll notice that others are following.”

Two properties became the first properties to be sold using bitcoin in the United Kingdom last December. Last week, a commercial property in Japan was put up for sale in bitcoin, and the cryptocurrency has also been accepted for as payment for some homes in Florida.