https://www.cnbc.com/2017/09/05/dubai-real-estate-project-first-to-be-priced-in-bitcoin-michelle-mone.htmlA 250 million pound ($325 million) luxury development has been launched in Dubai — and the people behind it don't mind if you pay in bitcoin.
Announced Wednesday by British entrepreneurs Michelle Mone and Doug Barrowman, Aston Plaza and Residences spans more than 2.4 million square feet and is split across two 40-storey residential towers.
Its developers claim that it will be the "first major development" to be priced in the virtual currency bitcoin.
The studio apartments will be sold initially at a starting price of 30 bitcoin — worth $133,918.
It includes more than 1,000 apartments and a shopping mall, and is due for completion by September 2019.
Transactions will be processed by cryptocurrency payments platform BitPay, which provides payment tools to Microsoft and billionaire Richard Branson's space endeavor Virgin Galactic.
"These property purchases can now happen in minutes from anywhere in the world with the speed of sending an email," BitPay CEO Stephen Pair said in a statement on Wednesday.
"We are pleased to partner with Knox group of companies in this exciting first for Bitcoin and for property payments."
