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Dubai or bust for Baroness Bitcoin

The Times (plus a number of other publications) report on Wednesday that Baroness Mone, the model turned lingerie entrepreneur turned Cameron peer, will be launching a “£250m luxury property development in Dubai that will sell apartments in bitcoin, the digital currency”.What’s unique about the story is the bitcoin aspect, naturally. High-end property sales occur everyday. High-end property sales for bitcoin, not so much. Or so the narrative goes.The venture is further endorsed by Douglas Barrowman, Lady Mone’s partner, who tells the Times he has “watched bitcoin grow and been actively involved in it over the last couple of years” and that “the currency is here to stay.”All a fantastic endorsement for the currency of the future you would think. But is it? Is it really?To get to the bottom

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Izabella Kaminska
Izabella Kaminska joined FT Alphaville in October 2008, which was, perhaps, the best time in the world to become a financial blogger. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP’s internal magazine. She has also worked as a reporter on English language business papers in Poland and Azerbaijan and was a Reuters graduate trainee in 2004.

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