Team shortlist06 Sep 2017 AT 02:24 PM

You can buy these Dubai residences using Bitcoin

In a world-first, a development will be available for purchase with cryptocurrency
Team shortlist06 Sep 2017 AT 02:24 PM
Bitcoin, Aston Plaza, Dubai, Property, Crypocurrency
Bitcoin, Aston Plaza, Dubai, Property, Crypocurrency
Bitcoin, Aston Plaza, Dubai, Property, Crypocurrency

Remember when everyone thought Bitcoin was a bit of a joke? A few years ago you’d hear of someone (usually one of those tech types) using actual real-world cash to buy what we all thought was fake internet currency, and we’d think “haha, that’s never going to take off.” Go on admit it, you did.

Well it turns out, the joke is on us. Unless you’re one of those tech types… in which case, bravo, well done, congrats, fancy taking us all out for dinner?

Not only has cryptocurrency (Bitcoin in particular) monumentally exploded in value (one Bitcoin is now worth around $4200 depending on when you look at the charts, while you could have picked one up for under #600 in 2013), but you can now buy physical assets with it.

Bitcoin

A new real estate development in Dubai is the first ever scheme where you can buy property using Bitcoin. The $300 million project in Dubai Science Park launched by Aston Property Ventures, which owned by Ultimo founder Michelle Mone and partner Doug Barrowman, is scheduled for completion in 2020.

The first batch of 150 properties for sale will range from studios for $169,000 (or 30 Bitcoins) to two-bedroom apartments for $380,000 (or 85 Bitcoins). Once the 2.4 million square foot scheme is finished there will be 750 apartments.

The development will also have a plaza with space for boutiques, restaurants, cafes and a supermarket.

Now we just need to figure out how to build a time machine so we can travel back to 2013 and buy 30 Bitcoins. Someone get Bran Stark on the phone…

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