Baroness Bra’s Bitcoin tip falls flat after value plunges

Baroness Mone was controversially appointed by David Cameron as his business tsar in 2015, however some people may regret following her advice in recent weeks.

In December the Ultimo bra tycoon was urging the public to buy bitcoins, which she predicted would soon be worth £72,000 per coin. The price of Bitcoin has, in fact fallen from £14,000 to around £5,000, a 65 per cent drop in its value since the beginning of the year.

Michelle Mone, 46, has a vested interest in talking up the virtual currency. Last year, she started selling £192 million of property in Dubai that could be bought using bitcoins. Baroness Mone of Mayfair launched the project with her boyfriend, businessman Doug Barrowman.