//Britain’s Bra Baroness will sell apartments in her new $326 million Dubai tower for bitcoin
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Britain’s Bra Baroness will sell apartments in her new $326 million Dubai tower for bitcoin

Michelle Mone rose from a working-class Scottish background to become one of Britain’s most renowned entrepreneurs thanks to the runaway success of her unique bra designs. Mone exited the lingerie business a few years ago and was recently named a Baroness and given a seat in the House of Lords. But entrepreneurship is calling, and […]

 


Michelle Mone rose from a working-class Scottish background to become one of Britain’s most renowned entrepreneurs thanks to the runaway success of her unique bra designs.

Mone exited the lingerie business a few years ago and was recently named a Baroness and given a seat in the House of Lords. But entrepreneurship is calling, and so Mone has announced a new joint venture with her business partner and boyfriend Douglas Barrowman.

The pair is building a residential tower in Dubai with an interesting twist: It targets the crypto-currency community. Apartments in the 40-story tower will be listed and sold for bitcoin, something the partners claim is a first for residential property.

Beyond turning a profit, Mone said she hopes the ensuing publicity around the project will raise more awareness and curiosity about bitcoin.

“The majority of people on the streets haven’t heard of bitcoin,” Mone said. “And if they have, they don’t know what it is. So we’re bringing bitcoin to the masses.”

The apartments went on sale just after midnight in Britain on September 6 at Ashtoncryptoplaza.com. The prices start at 33 bitcoin, or about $150,000.

The tower is expected to be completed some time in 2019, and will be located above a massive mall in Dubai. The tower will have 1,133 apartments that can each be bought through the website using bitcoin. Once purchased, the owner can follow the construction process via webcams that will be placed on site and streamed to the website.

The pair will initially post the first 150 apartments for sale. After the 50th apartment is sold, they will also give on away for free.

Though Mone is somewhat new to cryptocurrency, she now has a bitcoin wallet. However, Barrowman has been a long-time supporter and investor into bitcoin ventures. He believes the project will be appealing to members of the crypto community who have been accumulating wealth and would like a way to diversity beyond other crypto currencies or initial coin offerings.

“It was a natural extension for me to view bitcoin as a mainstream currency.”

Together, they’re betting that their long-term success in different business ventures and the transparency of the project will be advantages to convincing crypto currency holders to trust them.

“We’re well-known business people,” Mone said. “And the crypto currency business world is built on trust.”

Source: Britain’s Bra Baroness will sell apartments in her new $326 million Dubai tower for bitcoin