We keep hearing about companies that are accepting bitcoin and cryptocurrencies as forms of payment. Now, another firm – Gaucho Group Holdings, Inc. – is being added to the list of enterprises that see BTC in the same light that they would cash or credit cards.
Gaucho Paves the Way for BTC Payments
From the very beginning of their creation, cryptocurrencies were designed to one day replace fiat and other standard forms of payment. It was originally thought that a person could go into a store somewhere and use bitcoin or some other examples of digital currency to purchase an item of some kind. However, this has never really come about due to the assets’ volatility, and while they are now being viewed as hedge tools rather than just speculative assets, many of these cryptocurrencies have still not made their way into the payment arena – a fact that frustrates most bitcoin believers.
At the time of writing, only a few companies – such as Overstock.com – allow bitcoin to be used for the purchasing of merchandise.
However, all this is about to change. We keep hearing about all these big companies – such as Uber, Tesla and General Motors – that are now considering accepting bitcoin payments for goods and services in the coming future. Gaucho is another company that sees bitcoin as a valid payment method, and as a result, the company has announced that people may utilize the asset to purchase real estate along with assorted other products through its property department Algodon Wine Estates.
Scott Mathis – CEO and chairman of Gaucho Group Holdings, Inc. – commented in a statement:
We continually look for innovative ways for people to invest in our assets. COVID-19 has forced governments throughout the globe to react in a manner that we believe could directly correlate with an increased rate of inflation. In such a scenario, we believe real estate can offer the opportunity for investors to diversity their holdings, and the use of cryptocurrency offers the opportunity to adjust direct exposure to US-based equities and capital. At the same time, Argentina has seen a surge in crypto-related ventures. Accordingly, we believe accepting bitcoin provides investors an opportunity to realize returns on some of their crypto assets, and we feel this provides another opportunity for [us] to grow and gain exposure in the marketplace.
Some History On the Company
Algodon Wine Estates has more than 4,000 acres and is a luxury real estate and sports resort region established in the heart of Argentina. There is also a boutique hotel for travelers to stay at, a nine-hole golf course, tennis courts and a restaurant that serves national dishes throughout the year.
Gaucho Group Holdings, Inc. is a company known for offering an assortment of luxury brands and items including leather goods, real estate, fashion accessories and fine wines.