Well, not just any apartment, but a brand new one that's giving Bitcoin owners first crack at a new place.

That's right, Aston Plaza and Residences in Dubai is offering their first 150 apartments for sale solely via Bitcoin.

Only have cash?

Too bad!

You will have to wait a few months.

What's the price tag for said apartments you might ask?

Well, it's not cheap...

Studio Apartments are slated to go for 30 Bitcoin while one-bedroom apartments are slated to be around 50 Bitcoin, which is roughly $242,000 at current prices.

These prices are subject to change as the price of Bitcoin jumps around because the prices are stated in dollars.

How does it work?

According to Michelle Mone, a partner in the project, once the purchase is made, the Bitcoin price is fixed for 15 minutes while the transaction goes through.

Then, once the transaction is completed, the Bitcoins will be immediately converted to U.S. dollars.

Mone says that she loves Bitcoin but that the company is not in the Bitcoin currency trading business and can't afford to speculate on what future prices might do, hence the reason for the immediate conversion.

Mone and company are in the development business.

BitPay will process the Bitcoin transactions.

Why are they doing this?

Mone said that they would like to give an opportunity to the Bitcoin world. An opportunity for Bitcoin owners to turn their coins into brick and mortar, if they should have the desire.

Once the initial sales are done, they will open up the rest of the apartments for sale to people interested in buying with conventional currencies.

Bitcoin owners just happen to get first choice.

Not only that, but they can also pay for the interior design with Bitcoin.

So, there are several options for Bitcoin owners with this project...

The development in the Dubai Science Park consists of two towers, a swimming complex, an outdoor cinema and a shopping mall.

Judging by the pictures, it looks like it might be worth every penny, or um every Bitcoin, I mean. :)

Take that China!

Stay informed my friends.

Sources:

http://money.cnn.com/2017/09/06/technology/dubai-bitcoin-apartments/index.html

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