The FT is behind a paywall, but you can access an occasional article by answering a marketing question.
The title says it all really, hardly an in depth analysis, sensationalism by a self admitted Bitcoin skeptic/critic. It gives no examples of any transactions to back up the hypothesis.
The author quoted in comments:
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What we have been told is that until recently the MMM scheme used normal currency, but then banks started blocking transactions, thus now bitcoin has become the predominant value transfer currency for the scheme.
and replies to criticism
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I do have an agenda. An agenda to not mindlessly recylce positive spin that a small community with a big vested interest circulates ad nauseum through the internet.
I am starting a topic in Discussion to attempt to find real life examples of the current Bitcoin payment/MMM situation.
https://bitcointalksearch.org/topic/bitcoin-mmm-china-and-the-press-1238326