Numbrs Personal Finance AG (“Numbrs”), a Swiss Bitcoin Company based in Zug, Switzerland, is pleased to release this exclusive research article discussing how Bitcoin has begun a cycle of increased stability and popularity and, how it will become increasingly mainstream as it becomes easier to transact in Bitcoin.
The multibillion-dollar luxury fashion company Off-White has announced that it will accept Bitcoin and certain other cryptocurrencies from its customers in London, Paris and Milan. Off-White is a successful luxury company that was founded by the late Virgil Abloh in 2012. It has collaborated with some of the most important brands in the world including Nike, Ikea, Mercedes-Benz, Levi’s, Timberland and Evian. In an apparent bid to attract young customers, the company justified the move by saying that it was “another important step in the growth of the brand… understanding the needs and desires of its ever evolving customer base”.
In July 2021, 60% of Off-White’s shares were acquired by the luxury conglomerate LVMH. LVMH, born out of a merger between luxury brands Louis Vuitton and Moët Hennessy, is the most valuable company in Europe by market cap and the 18th largest in the world. This is not the first subsidiary of LVMH to accept crypto payments. The luxury watch brand Hublot started accepting payments in crypto in February 2022 and also launched a watch in collaboration with Ledger. It is likely that LVMH will continue to expand its crypto offering across its other brands. Other large retail groups, as well as smaller retailers, looking to attract young customers will also follow. As corporate and grassroots adoption increase concurrently, Bitcoin will become increasingly mainstream and the time when individuals and companies will prefer to transact in Bitcoin instead of fiat will draw nearer.
The inevitable spread of Bitcoin continues. Nations, US States, cities, large corporations and individuals are increasingly legalizing, accepting and accumulating Bitcoin. The younger generations, who are more prone to buying and spending Bitcoin, will eventually make it a mainstream medium of exchange. With time, it could even become society’s preferred medium of exchange.
About Numbrs
Numbrs Personal Finance AG (“Numbrs”) is a Swiss Bitcoin company founded in 2013 by Martin Saidler and headquartered in Zug, Switzerland. The group provides a state-of-the-art Bitcoin storage account, the ‘Numbrs Bitcoin Account’, which guarantees an industry-leading and highly secure storage solution for Bitcoin custody and private wealth preservation for the 21st century. The Numbrs Bitcoin Account has been created in the spirit of Switzerland’s long traditions of strict standards of privacy, neutrality and stability.
For more information, please visit: https://www.numbrs.com/