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UK Baroness’ Luxury Bitcoin Property Project Reportedly Suffering Delay
A British baroness' luxury residential project targeting the crypto rich has been put on hold, says The Times.
Par Yogita Khatri
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A luxury residential project targeting the crypto rich may be in trouble.
According to a report from The Times on Sunday, the Aston Plaza project in Dubai – launched in 2017 by high-profile U.K. entrepreneurs Baroness Michelle Mone and Doug Barrowman – appears to have stalled, with its website still displaying the project as "25 percent complete," the same figure as used in its marketing materials.
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Aston Plaza plan was unveiled in September 2017. Said at the time to be costing £250 million ($323 million) to build, the two-tower complex was to feature 1,133 luxury apartments over 2.4 million square feet, with each flat costing between $133,000 and $379,000 in bitcoin.
According to The Times, government inspectors visited the construction site in January 2018 and declared the project as “on hold.” Construction, planned for completion by this summer, is no longer underway, according to the report.
Baroness Mone is also a lingerie designer and peer of the U.K.'s House of Lords, while Barrowman, her life and business partner, is a business mogul and founder of private equity firm Aston Ventures. Together, the two launched the real estate project specifically targeting the blockchain and crypto community.
Barrowman told CoinDesk at the time that he felt the venture was the perfect opportunity for bitcoin investors to convert their holdings into “real brick-and-mortar” assets.
He also said in a statement at the time:
“I wanted to offer the property, tech and blockchain community a unique and exclusive opportunity by merging the property and tech sectors together in a true first for the industry.”
The project was accepting payments in bitcoin through U.S.-based cryptocurrency payments processor BitPay.
Aston Plaza project image courtesy of the company
Sizin için daha fazlası
‘Bitcoin to zero’ searches spike in the U.S., but the bottom signal is mixed
Google Trends data shows the term hit a record high in the U.S. this month, though global interest has fallen since peaking in August.
Bilinmesi gerekenler:
- U.S. searches for “bitcoin zero” on Google hit a record high in February as BTC slid toward $60,000 after hitting a peak in October.
- In the rest of the world, searches for the term peaked in August, suggesting fear is concentrated in the U.S. rather than worldwide.
- Similar U.S. search spikes in 2021 and 2022 coincided with local bottoms.
- Because Google Trends measures relative interest on a 0-to-100 scale amid a much larger bitcoin user base today, the latest U.S. spike signals elevated retail anxiety, but does not reliably guarantee a clean contrarian reversal.
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