BTC Wine, a branch of the Grands Crus trader Lassere & Papillon, saw its sales increase thanks to the rise in the price of Bitcoin. A way to support an industry particularly affected by the health crisis?
Great tasting wines thanks to Bitcoin (BTC)
As Drinks International explains , the “B TC Wine” offer from the Grands Crus trader Lassere & Papillons dates from Bitcoin’s last bull run. The principle is simple: the Bordeaux-based company makes prestigious bottles of wine available to its customers, and they can pay for their purchases in BTC, Ether (ETH) or Bitcoin Cash (BCH) .
The rise in the price of Bitcoin Machine has allowed the company to experience success with its BTC Wine offering, as the wine sector is hit hard by the Covid-19 crisis. Louis de Bonnecaze, director of BTC Wine, explains:
“It works very well thanks to the bull run. We are seeing a new kind of customer, who has a lot of Bitcoin, and who wants to spend it . The Grands Crus are a symbol of status. They bought cars and houses, and now they are heading for wine: it’s a good market for us. “
Luxury and blockchain main in the main?
Beyond using cryptocurrencies as a payment tool, BTC Wine also wants to explore blockchain technologies in order to improve its logistics:
“Blockchain technology opens up new perspectives in terms of traceability and logistics. We find synergies between wine and cryptocurrency, because wine is a tangible asset, and Bitcoin is another category of asset. So it was natural for us to mix the two. “
The company has revealed that it uses the Bitpay payments facilitator to build bridges with the euro. It is also considering paying its suppliers directly in Bitcoin in the future, if they start to accept cryptocurrency.
In any case, this is not the first time that Bitcoin and cryptocurrencies have flirted with luxury. In 2019, Franck Muller launched a luxury watch that hid a Bitcoin wallet . In France, we learned last year that LVMH had embarked on a blockchain traceability project . As Bitcoin grows in legitimacy – and in price! – new projects of this type should therefore continue to spread.