Photo = BTC Wine
If the stock or real estate market goes well, there are many foreign cars and luxury watch stores. It is the so-called’effect of wealth. The jump in asset prices doesn’t mean you have cash in your hands right away, but people think they’re rich.
A wine company in Bordeaux, France, is enjoying the’Bitcoin version of wealth’ these days. It is the exact opposite of the atmosphere of the country’s wine industry, which is struggling with a recession.
According to a foreign press on the 8th, European liquor magazine Drink International introduced the case of’BTC Wine’, which has emerged as a beneficiary of the recent Bitcoin (BTC) bull market.
Bordeaux wine company Lasserre & Papillon opened an online shopping mall called’BTC Wine’ four years ago. This place sells a variety of alcoholic beverages from 20,000 won of champagne to 9 million won of red wine with our money. The feature is that you can pay with virtual currencies such as Bitcoin, Ethereum, and Bitcoin Cash. The product price is listed in terms of Euro (€) and Bitcoin. When you order wine, it is shipped overseas in a luxurious wooden box.
Photo = BTC Wine
In 2017, when BTC wine opened, the ‘2nd rally’ was in full swing in the bitcoin market, where the price from $900 at the beginning of the year reached $20,000 at the end of the year. The following year, the price of bitcoin plummeted, but BTC Wines did not give up hope that “Bitcoin will rise again.” Their optimistic outlook has become a reality. The’third rally’ has come to an end as liquidity overflowing after the Corona 19 incident flocked to the virtual currency market. The recent bitcoin market price is around $40,000.
“People who have a lot of bitcoin and want to spend it. They have become our new customer base. Fine wine is a’symbol of high status’ for them.”
ㅡ Louis de Bonnecaze, Sales Director of BTC Wines
The company’s receipt of cryptocurrency was a paving stone to capture the technology-savvy’emerging code’. Rich people buy cars and real estate and then move on to fine wines.Is their judgment.
The French wine industry is struggling with the bad news of’three hits’ until the United States’ tariff increase, Brexit (the UK’s withdrawal from the European Union) and the corona 19 incident. Some companies have disposed of their wine inventory as a hand sanitizer ingredient.
However, BTC wines said they are selling very well thanks to the bullish bitcoin. An official at BTC Wine said, “There are more customers who are younger than traditional wine consumers. If you combine tangible wine and invisible bitcoin, you can create a synergy effect.”
In the information technology (IT) industry, attempts have been made to transparently manage the country of origin, authenticity, distribution history, etc. by applying blockchain technology to wine.
Photo = BTC Wine
In France, there were more wine companies that introduced cryptocurrency payments following the case of BTC wine, the foreign press reported. Drink International explained, “The advantage of virtual currency settlement is that you can quickly complete transactions with low commissions without having to go through a bank, etc.”
Reporter Lim Hyun-woo [email protected]
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