Where the Crypto Rich Spend Their Bitcoins

A small but growing industry of luxury boutiques that cater exclusively to cryptocurrency holders has emerged. This article profiles a pioneer in this area: BitDials, which was the world’s first cryptocurrency-only online luxury store.

Check out our new platform: https://thecapital.io/

Most people who have spent any time in the crypto space are familiar with the “Lambo” meme. It refers to bitcoin enthusiasts’ tendency to buy Lamborghinis as a way of cashing in on the value of their crypto. However, as cryptocurrency pushes into the mainstream a lot more options are becoming available for holders looking to use their coins to buy luxury goods.

Charting the Growth of Cryptocurrencies

BitDials was started by an early crypto adopter and an established watch retailer in Germany in 2016. Instead of offering Lambos, BitDials started with high-end luxury watches. In the crypto space, however, four years is a long time. BitDials saw the 2017 ICO craze come and go and survived the bear market of 2018–19. During these years it steadily increased its merchandise.