50 Dubai luxury flats have been sold for bitcoin–and one buyer bought 10!

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A batch of 50 Dubai luxury flats offered for sale in bitcoin have all been snapped up. Lingerie tycoon Michelle Mone and her billionaire partner Doug Barrowman announced plans last September for a $327 million (£235.7 million) property development in Dubai that would see apartments offered for sale in bitcoin.
Barrowman told Business Insider earlier this month: “We allocated 50 out of 1,300 developments. We’ve sold all out. Some bought ones and twos, and one individual bought ten.” He added: “We’re still getting lots of inquiries. We’ve not released another batch. Particularly when bitcoin was riding high in the charts. I think a lot of people were cashing out over the Christmas period.”

Prices range from studio apartments for $130,000 — currently about 15 bitcoins — to two-bedroom apartments priced at $380,000, or about 45 bitcoins. Mone said that there were a “mixture” of buyers but that “a lot” fit the stereotype of early bitcoin devotees — young male programmers in t-shirts.

Source Credit: Business Insider

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