An ambitious plan by a high profile entrepreneur couple to put a luxury development in Dubai up for sale in bitcoin has nearly sold out.
Baroness Michelle Mone, the woman behind the Ultimo bra brand, and businessman Douglas Barrowman have sold nearly all of the 50 properties it has so far put up for sale in the cryptocurrency.
The appartments are part of a wider development of more than 1,000 luxury flats in two 40-storey towers in a plush development that will also include a shopping mall.
One tower of apartments has now been sold in both bitcoin and conventional cash, Mone and Barrowman told City A.M., while just a couple of an initial batch set aside for bitcoin buyers remained on the market.
Mone described interest in the venture as “phenomenal” and “unbelievable”, while Barrowman said it was a "great success”.
“You’ll notice that others are following,” Mone added.
Two properties became the first to be sold in the UK using bitcoin in December. A commercial property in Japan was last week put up for sale in bitcoin and the cryptocurrency has also been accepted for sales of homes in Florida.