Hublot's $25,000 watch can only be purchased with Bitcoin07th November 2018
It's also planning to give customers the option to buy its other watches with cryptocurrencies.
Hublot has launched a new luxury watch under its Big Bang line that's not quite like any of its other models. You can't pay for it with cash or even an AMEX Black Card -- you can only purchase it online using Bitcoin. It's called the Meca-10 P2P, and it was designed for the cryptocurrency's 10th year anniversary. In fact, Hublot will engrave the unique Bitcoin transaction number you used to pay for the device on the edge of its bezel before shipping it. According to Bloomberg, one Meca-10 P2P will set you back around $25,000, based on the current Bitcoin value.
However, it's not entirely clear if you'll be able to buy one even if you're a Bitcoin millionaire. Hublot is only making 210 pieces as a reference to the 21 million global Bitcoin limit, and the company told Bloomberg that it has already received over 210 orders for the device. The company has teamed up with Hong Kong company OS Limited (OSL) to perform background checks on the buyers, since every application is subject to approval. OSL will also conduct anti-money-laundering checks to ensure no bad actor is using the opportunity to turn illegally-obtained cryptocurrency into a legit luxury good.
Hublot's partnership with OSL might not end even after it's done choosing 210 applications for the Meca-10 P2P. Ricardo Guadalupe, the luxury company's CEO, told Bloomberg that Hublot is planning a second cryptocurrency-exclusive series. Further, the watchmaker might give customers the option to buy any of its watches with cryptocurrencies by the end of next year.