In the latest bitcoin news, Baroness Michelle Michelle Mone is singing the praises of the "currency of the future," as it will soon allow people to purchase new luxury properties. Mone is working with her billionaire boyfriend and partner Douglas Barrowman on a brand new venture that will have bitcoin usable as a payment for acquiring one of their Dubai luxury apartments. Based on this project, it may show the future value of bitcoin is going to be much more than what people believe, as Mone is also recommending people should be buying into the currency. However, there are still those who say "not so fast" when it comes to the concept.
As the Express reported, Baroness Mone and Barrowman are planning to make 150 of 1,133 homes in Dubai available for purchase with bitcoin as part of their newest venture. These properties will be the Aston Plaza & Residence apartments which Mone said are situated in the "Beverly Hills of Dubai." Ahead of this virtual currency venture, Baroness Mone has built much of her fortune through the founding of British lingerie brand Ultimo. However, she believes strongly in the future of cryptocurrency, as she suggests that everyone should look to invest in the new currency. It's even mentioned that she's had her son and parents invest in the popular cryptocurrency, which relies on the blockchain technology.
The Baroness indicated that she likes the currency due to it being "easy for people to trade" with and also due to it being quick and stable in terms of making payments. Baroness Mone also added she doesn't think there's a bubble and wouldn't back the concept if it was not something viable.
"We're making money out of it. I'm a Baroness in the House of Lords, if there was anything untoward, I wouldn't be doing it. I believe it's the currency of the future."
Bitcoin has already been used for a variety of different "real world" purchases. Wired reported years ago that one of the first noted bitcoin transactions saw a customer spend 10,000 bitcoins in exchange for two pizzas delivered by Papa John's. Many local businesses in different states and even select online retailers are starting to accept the form of payment. Overstock is among one of the websites that accepts the payment now. There are even bitcoin ATMs popping up around the United States. Some of them even sell another currency called "Litecoin," which is considered the silver to the gold standard bitcoin. Now, there's luxury property in Dubai about to be sold that will make more history for the virtual currency.