Fashion brand Balenciaga is now accepting cryptocurrency as a means of payment. As a result, the brand’s main locations in Los Angeles and New York, as well as its online sites, will now offer Balenciaga products in return for crypto.

Press statement from Balenciaga emphasized that the brand’s long-term thinking about crypto & currency fluctuations is nothing new. However, it is clear that Balenciaga will not just accept cryptocurrencies.

For now, there is no word on how Balenciaga plans to utilize crypto or which digital asset it will accept. Having said that, it did state that it will initially be taking just BTC and ETH for the time being. There has been an increasing number of high-end stores turning to cryptocurrency in recent months, such as Moët Hennessy Louis Vuitton.

Luxury fashion house Balenciaga has become the latest to accept crypto as a form of payment. One of the world’s most famous watchmakers, Tag Heuer, has also decided to accept cryptocurrency. In light of Arnault’s support for NFTs and Web3, Tag Heuer’s adoption of cryptocurrency is not a surprise. The CEO of Tag Heuer, Laurent de Vos, is a major fan of NFTs, as indicated by his engagement with Clone X PFP by Rtfkt, which was made in partnership with Takashi Murakami and Invisible Friends by Markus Magnusson.

Luxury businesses are increasingly utilizing cryptocurrency as a form of payment. With this, they seek to attract a more wealthy, tech-savvy clientele that’s well-versed with the use of digital assets. This is just the latest addition to a long line of fashion brands getting on board with blockchain technology.

In conclusion, to view the 10 best-performing cryptocurrency this month, get crypto market updates and crypto exchange news, click here. And don’t forget to follow our Youtube channel to view useful investing videos.

Disclaimer:

RPD company profiles and other investor relations materials, publications or presentations, are based on data obtained from reliable sources. However, we do not guarantee their accuracy or completeness. You must not construe the information as advice designed to meet the particular investment needs of any investor. Any opinions expressed in Rich Picks Daily are subject to change. Rich Picks Daily & RICH TV LIVE and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.

Investing is inherently risky. Rich Picks Daily is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.

Therefore, we strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission (“SEC”) at www.sec.gov/Canadian CSA https://www.securities-administrators….