The latest crypto bull run, where bitcoin prices are on the rise, has benefited a French wine company in particular. Despite the pandemic, the Lasserre & Papillon company, which sells wine with Bitcoin, is making significant gains after establishing "BTC Wine".
BTC Wine Released During Rally 2017
According to an article published in Drinks International magazine, the luxury online wine retailer is witnessing a huge increase in demand these days. But the profitable journey began with a bull run first seen in 2017, which raised Bitcoin from $ 900 to $ 19,783.21.
That same year, Lasserre & Papillon opened its Bordeaux-based online retail firm to the public. Despite the subsequent price reversal, the firm was confident that BTC Wine would maintain its profit rates in the future because it believed that Bitcoin could continue its upward trend.
His optimistic views have come true. In fact, Bitcoin was traded over $ 40k on Saturday morning, according to Markets.Bitcoin.com.
The online retailer sells premium wines worldwide and customers pay with BTC, Ether (ETH) or Bitcoin Cash (BCH). The Bordeaux-based retailer offers well-known wines such as Cheval Blanc 2015, Canon La Ga eliere 2009, Sassicaia 2014, Louis Roederer Cristal 2009, Latour 2005 and Pavie 2006 among its products.
Bitcoin Saved Us From Bankruptcy
BTC Wine's sales director, Louis de Bonnecaze, stated that the rapidly rising Bitcoin prices have increased their sales:
“Thanks to the bull run, our business is going very well. We have a new customer profile. They have a lot of Bitcoins and want to spend it. Quality wine is a status symbol. These investors, rich in Bitcoin, bought luxury cars and real estate, and now it's time to turn to fine wine. That's why we live in our golden age as a company. ''
Bonnecaze pointed out that the wine market is having a hard time due to the coronavirus outbreak. However, other factors such as Brexit and US trade taxes are hurting the industry. BTC Wine's sales manager believes cryptocurrencies can be useful in tough times:
“For us, payments made with cryptocurrency saved us from bankruptcy during this difficult period. The crypto industry is a fascinating and spreading industry. For us, this is above all a new and lucrative way of marketing our fine wines to new wealthy customers. ''
