According to a corporate announcement, Swiss-based luxury watchmaker Hublot is now taking bitcoin as payment, beginning with a limited-edition release of the Big Bang Unico line of 200 pieces.
Although the limited-edition collection is the first to be released, the United States eBoutique will continue to accept bitcoin on its platform. The business and BitPay collaborated to create the capabilities for this restricted release, but their collaboration will continue.
Customers will need to spend about $21,800, or little more than the current price of 1 BTC, to own one of the watches from this collection. The Unico limited-edition watch is composed of titanium, and the Big Bang series is Hublot’s signature style.
However, Hublot is not the only high-end company utilizing the bitcoin community. Gucci, Farfetch, and Balenciaga, three fashion shops, have all previously confirmed either limited testing of or full acceptance of bitcoin as payment. In a similar vein, the Continental Diamond jewelry store and luxury jewelry reseller SFLMaven both declared they will start taking bitcoin.
In a similar vein, Hublot isn’t the only high-end watchmaker with a Swiss base to start taking bitcoin. On May 19, Tag Heuer declared that it would start using the virtual currency on its online store.
Businesses like the aforementioned luxury labels are still able to reach a completely new customer base through the use of bitcoin thanks to BitPay and other cryptocurrency infrastructure providers. These companies can engage in the bitcoin ecosystem without having any prior technical knowledge thanks to the assistance offered to them.