Michelle Mone, the founder of the Ultimo lingerie brand, is launching a development in Dubai where the properties will be sold in bitcoin – a first for the real estate sector.
The £250m development will provide 1,133 studio, one-bedroom and two-bedroom apartments in two residential tower blocks. Some 150 of the apartments are to be offered for sale using bitcoin.
A studio apartment will cost 30 bitcoins, while a two-bedroom apartment is priced from 85 bitcoins. Bitcoin hit a record high in the last week before dropping to $4,000 on news of moves by Chinese regulators to ban initial coin offerings.
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