In 2017, a luxury real estate developer in Dubai, UAE, made headlines by announcing that they would accept Bitcoin as the sole payment method for a range of luxury apartments. This marked one of the first instances of a major real estate development project exclusively accepting Bitcoin for property purchases.

The developer, Knox Group, offered buyers the opportunity to purchase apartments in a $325 million luxury apartment complex in Dubai's Science Park. They stated that the decision to accept Bitcoin was driven by the desire to attract international investors and tap into the growing interest in cryptocurrencies.