A French wine trading firm has been favored by the recent crypto bull-run, specifically with the bitcoin prices surging across the board. Despite the pandemic, Lasserre & Papillon is making good numbers after founding BTC Wine.
BTC Wine Was Launched During the 2017 Crypto Pricesâ€™ Rally
Per an article published by Drinks International magazine, the luxury online wine retailer is witnessing a surge in demand nowadays. But the profitable journey first started with the bullish wave seen in 2017 that took bitcoin from $900 to $19,783.21.
In that same year, Lasserre & Papillon launched the Bordeaux-based online retailer to the public. Despite the subsequent price reversal, the firm was confident that BTC Wine would keep its profitability in the future, as they believed bitcoin could resume its bullish steam.
Their optimistic views became a reality. In fact, according to markets.Bitcoin.com, bitcoin exchanged hands above the $40k handle during Saturday morningâ€™s trading sessions.
The online retailer sells premium wines globally, and customers pay with BTC, ether (ETH), or bitcoin cash (BCH). Among the products, Bordeaux-based retailer offers well-known wines such as Cheval Blanc 2015, Canon La Ga eliÃ¨re 2009, Sassicaia 2014, Louis Roederer Cristal 2009, Latour 2005, and Pavie 2006.
Attracting a New Kind of Customers Because of the Cryptoâ€™s Bull-Run
Louis de Bonnecaze, BTC Wineâ€™s sales director, commented on how the recentâ€™s skyrocketing prices in bitcoin have been boosting their sales:
Bonnecaze pointed out that the wine market is not living easy times, due to the coronavirus pandemic. However, other factors are hurting the industry, such as Brexit and U.S. trade taxes. Still, BTC Wineâ€™s sales director believes in how helpful cryptocurrencies could be during tough times:
What do you think about this story of cryptoâ€™s success with the french wine retailer? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.