As Bitcoin’s value continues to soar, luxury brands are seizing the opportunity to tap into this new pool of wealth. 
 
French luxury department store Printemps has partnered with the world’s largest crypto exchange, Binance, and financial tech company Lyzi to accept Bitcoin and Ethereum in its stores. 
 
This makes Printemps the first European department store to accept cryptocurrency payments.

With other luxury retailers like Gucci and Balenciaga already offering crypto payment options, the trend is gaining momentum, especially as more brands show interest in joining the movement. 
 
The luxury industry’s embrace of cryptocurrency is driven by the desire to innovate and appeal to a younger, tech-savvy clientele. 
 
Brands are expanding their payment options, allowing crypto payments in select stores. 
 
In fact, Gucci has been accepting Bitcoin and other cryptocurrencies for its products in the US since 2022.

This shift comes as high volatility and regulatory concerns around cryptocurrencies persist, but the growing support from figures like US President-elect Donald Trump is offering optimism for more stable e-currency regulation. 
 
Luxury goods like designer handbags and high-end watches are becoming attractive investment options for crypto investors. 
 
While cryptocurrency payments remain largely symbolic for many retailers, they serve as a branding tool for companies eager to position themselves as innovative. 
 
With younger and wealthier customers looking for ways to diversify their portfolios, Bitcoin has emerged as a viable method for purchasing luxury items. 
 
This signals a shift in both consumer behaviour and how brands are meeting the demands of a changing market.

(With inputs from the agencies)

As Bitcoin’s value continues to soar, luxury brands are seizing the opportunity to tap into this new pool of wealth. French luxury department store Printemps has partnered with the world’s largest crypto exchange, Binance, and financial tech company Lyzi to accept Bitcoin and Ethereum in its stores.

As Bitcoin’s value continues to soar, luxury brands are seizing the opportunity to tap into this new pool of wealth. French luxury department store Printemps has partnered with the world’s largest crypto exchange, Binance, and financial tech company Lyzi to accept Bitcoin and Ethereum in its stores. This makes Printemps the first European department store to accept cryptocurrency payments. With other luxury retailers like Gucci and Balenciaga already offering crypto payment options, the trend is gaining momentum, especially as more brands show interest in joining the movement. The luxury industry’s embrace of cryptocurrency is driven by the desire to innovate and appeal to a younger, tech-savvy clientele. Brands are expanding their payment options, allowing crypto payments in select stores. In fact, Gucci has been accepting Bitcoin and other cryptocurrencies for its products in the US since 2022. This shift comes as high volatility and regulatory concerns around cryptocurrencies persist, but the growing support from figures like US President-elect Donald Trump is offering optimism for more stable e-currency regulation. Luxury goods like designer handbags and high-end watches are becoming attractive investment options for crypto investors. While cryptocurrency payments remain largely symbolic for many retailers, they serve as a branding tool for companies eager to position themselves as innovative. With younger and wealthier customers looking for ways to diversify their portfolios, Bitcoin has emerged as a viable method for purchasing luxury items. This signals a shift in both consumer behaviour and how brands are meeting the demands of a changing market. (With inputs from the agencies)

Luxury brands embrace cryptocurrency payments as Bitcoin surges

Bitcoin flirted with $17,000 on Thursday, triggering a warning the cryptocurrency was like a &quot;train with no brakes&quot; and prompting fresh concern about its looming launch on mainstream markets.

Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and got as high as $16,777 before pulling back, according to Bloomberg data. Near 2145 GMT, bitcoin stood at $16,070.

<a href="http://www.wionews.com/photos/a-little-bit-of-coins-bitcoins-explained-via-a-comic-strip-45">The rally came just a day after the virtual currency,</a> which has been used to buy everything from an ice cream to a pint of beer, hit the $12,000 mark for the first time. The eye-popping rise has seen the currency&#39;s value soar more than 50 percent in just one week, and from just $752 in mid-January.

Bitcoin, which came into being in 2009 as a bit of encrypted software, has no central bank backing it and no legal exchange rate.&nbsp;

It has surged dramatically in the past month, driven by growing acceptance among traditional investors of an innovation once considered the preserve of computer nerds and financial experts, and sometimes more shady users.

But some, including the US Federal Reserve, have warned against dabbling in bitcoin as it could threaten financial stability, and fears of a bubble have increased as the price has soared.

<a href="http://www.wionews.com/business-economy/bitcoin-soars-beyond-15000-climbs-2000-in-under-12-hours-26161">&quot;Bitcoin now seems like a charging train with no brakes,&quot; </a>said Shane Chanel, from Sydney-based ASR Wealth Advisers. &quot;There is an unfathomable amount of new participants piling into the cryptocurrency market.&quot;

But he warned: &quot;Once the hype slows down, we will most certainly see some sort of correction.&quot;

Financial industry concerns&nbsp;

There also are mounting concerns about its introduction into the mainstream financial system after a US regulator last week cleared the way for bitcoin futures to trade on major exchanges, a decision which analysts say has helped spur the recent rally.

The Commodity Futures Trading Commission decision allows bitcoin derivatives to be offered on the Cboe Futures Exchange starting this weekend and on the world&#39;s biggest futures venue, the Chicago Mercantile Exchange (CME), from December 18.

But the Futures Industry Association, which groups some of the world&#39;s biggest derivatives brokerages, criticized the CFTC&#39;s move in a letter to the regulator, saying contracts are being rushed through without properly weighing the risks.

&quot;A more thorough and considered process would have allowed for a robust public discussion among clearing member firms, exchanges and clearing houses,&quot; the association said.

Bitcoin transactions happen when heavily encrypted codes are passed across a computer network.&nbsp;

Goldman Sachs, an FIA member, plans to clear bitcoin futures contracts for some clients, meaning it will serve as intermediary to enable transactions, a spokeswoman said.&nbsp;

&quot;Given that this is a new product, as expected we are evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process,&quot; she said.&nbsp;

The NiceHash marketplace was meanwhile on Thursday investigating a security breach resulting in the theft of bitcoin.

&quot;Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days,&quot; NiceHash said in a statement.&nbsp;

&quot;In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency.&quot;

Bitcoin and other virtual currencies use blockchain, which records transactions that are updated in real time on an online ledger and maintained by a network of computers.

In 2014 major Tokyo-based bitcoin exchange MtGox collapsed after admitting that 850,000 coins, worth around $480 million at the time, had disappeared from its vaults.

Bitcoin&#39;s use on the underground Silk Road website, where users could use it to buy drugs and guns, also raised suspicions about the virtual money.

Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and got as high as $16,777 before pulling back, according to Bloomberg data. Near 2145 GMT, bitcoin stood at $16,070

Bitcoin flirted with $17,000 on Thursday, triggering a warning the cryptocurrency was like a "train with no brakes" and prompting fresh concern about its looming launch on mainstream markets. Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and got as high as $16,777 before pulling back, according to Bloomberg data. Near 2145 GMT, bitcoin stood at $16,070. The rally came just a day after the virtual currency, which has been used to buy everything from an ice cream to a pint of beer, hit the $12,000 mark for the first time. The eye-popping rise has seen the currency's value soar more than 50 percent in just one week, and from just $752 in mid-January. Bitcoin, which came into being in 2009 as a bit of encrypted software, has no central bank backing it and no legal exchange rate. It has surged dramatically in the past month, driven by growing acceptance among traditional investors of an innovation once considered the preserve of computer nerds and financial experts, and sometimes more shady users. But some, including the US Federal Reserve, have warned against dabbling in bitcoin as it could threaten financial stability, and fears of a bubble have increased as the price has soared. "Bitcoin now seems like a charging train with no brakes," said Shane Chanel, from Sydney-based ASR Wealth Advisers. "There is an unfathomable amount of new participants piling into the cryptocurrency market." But he warned: "Once the hype slows down, we will most certainly see some sort of correction." Financial industry concerns There also are mounting concerns about its introduction into the mainstream financial system after a US regulator last week cleared the way for bitcoin futures to trade on major exchanges, a decision which analysts say has helped spur the recent rally. The Commodity Futures Trading Commission decision allows bitcoin derivatives to be offered on the Cboe Futures Exchange starting this weekend and on the world's biggest futures venue, the Chicago Mercantile Exchange (CME), from December 18. But the Futures Industry Association, which groups some of the world's biggest derivatives brokerages, criticized the CFTC's move in a letter to the regulator, saying contracts are being rushed through without properly weighing the risks. "A more thorough and considered process would have allowed for a robust public discussion among clearing member firms, exchanges and clearing houses," the association said. Bitcoin transactions happen when heavily encrypted codes are passed across a computer network. Goldman Sachs, an FIA member, plans to clear bitcoin futures contracts for some clients, meaning it will serve as intermediary to enable transactions, a spokeswoman said. "Given that this is a new product, as expected we are evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process," she said. The NiceHash marketplace was meanwhile on Thursday investigating a security breach resulting in the theft of bitcoin. "Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days," NiceHash said in a statement. "In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency." Bitcoin and other virtual currencies use blockchain, which records transactions that are updated in real time on an online ledger and maintained by a network of computers. In 2014 major Tokyo-based bitcoin exchange MtGox collapsed after admitting that 850,000 coins, worth around $480 million at the time, had disappeared from its vaults. Bitcoin's use on the underground Silk Road website, where users could use it to buy drugs and guns, also raised suspicions about the virtual money.

Bitcoin surges above $16,000 as concerns mount

<a href="http://www.wionews.com/business-economy/bitcoin-surge-past-14485-in-asian-trade-26123" target="_blank">Bitcoin surge</a> hit another milestone when it rocketed above $15,000 for the first time on Thursday.

In under 12 hours, the cryptocurrency&nbsp;recorded more than&nbsp;$2,000 in its price to see more than a fifteenfold surge in its value since the start of the year.

Bitcoin&#39;s value soared to $15,344 on the Luxembourg-based Bitstamp exchange around 1420 GMT when it had traded just above $13,000 12 hours earlier.

The surge accounted for a 12% hike in its value recorded on a day. The value of all cryptocurrencies now stands at around $415 billion, according to Coinmarketcap.&nbsp;

&quot;Futures trading will mean more demand...and is a form of ratification of the underlying tech - bitcoin and cryptocurrencies in general. They are now on the main stage,&quot; said Charles Hayter, founder of cryptocurrency data analysis firm Cryptocompare.

The ongoing surge of Bitcoin is now been attributed to the launch of bitcoin futures by CBOE, one of the world`s biggest derivatives exchanges.

Market-watchers and experts believe it to give a helping hand in driving up the price on expectations it would draw more investors to the market.&nbsp;

&quot;Aggressive traders, such as hedge funds and algorithm-driven funds, (will be able) to use this futures market to enter bitcoin trading with high levels of liquidity for aggressive short-selling and knock the prices really low,&quot; said Think Markets analyst Naeem Aslam.

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With crypto-currencies on the rise around the world, there are concerns being raised about the technology being used by terrorists and criminals to evade digital tracking. WION&#39;s Archit Sinha brings you this report. (WION)
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Bitcoin has more than tripled in price since the start of October, putting it on track for its best quarter since the end of 2013, when it surged above $1,000 for the first time. It slumped in 2014, after Mt Gox, then the world&#39;s biggest bitcoin exchange, collapsed, saying it had been hacked and had 650,000 bitcoins stolen.&nbsp;

But some are warning that the launch of bitcoin futures, which will allow investors to take speculative &quot;short&quot; positions on the cryptocurrency, as well as &quot;long&quot; positions, could cause even greater volatility.&nbsp;

The latest surge brought bitcoin`s &quot;market cap&quot; - its price multiplied by the total number of bitcoins in circulation - to more than $260 billion, according to Coinmarketcap, a trade website.

That, in theory, makes its market value higher than that of Visa.

In India, the <a href="http://www.wionews.com/business-economy/rbi-warns-users-against-the-risks-of-virtual-currencies-like-bitcoin-25981" target="_blank">Reserve Bank of India</a>, on Tuesday, warned investors against the <a href="http://www.wionews.com/india-news/bubble-or-not-bitcoin-triggering-terror-finance-and-fraud-25623" target="_blank">risks linked to Bitcoin</a>.

The RBI stated rapid growth in Initial Coin Offerings (ICOs) as a cause for concern which also makes virtual currencies highly volatile and risk-involving tools of investment.

The ongoing surge of Bitcoin is now been attributed to the launch of bitcoin futures by CBOE

Bitcoin surge hit another milestone when it rocketed above $15,000 for the first time on Thursday. In under 12 hours, the cryptocurrency recorded more than $2,000 in its price to see more than a fifteenfold surge in its value since the start of the year. Bitcoin's value soared to $15,344 on the Luxembourg-based Bitstamp exchange around 1420 GMT when it had traded just above $13,000 12 hours earlier. The surge accounted for a 12% hike in its value recorded on a day. The value of all cryptocurrencies now stands at around $415 billion, according to Coinmarketcap. "Futures trading will mean more demand...and is a form of ratification of the underlying tech - bitcoin and cryptocurrencies in general. They are now on the main stage," said Charles Hayter, founder of cryptocurrency data analysis firm Cryptocompare. The ongoing surge of Bitcoin is now been attributed to the launch of bitcoin futures by CBOE, one of the world`s biggest derivatives exchanges. Market-watchers and experts believe it to give a helping hand in driving up the price on expectations it would draw more investors to the market. "Aggressive traders, such as hedge funds and algorithm-driven funds, (will be able) to use this futures market to enter bitcoin trading with high levels of liquidity for aggressive short-selling and knock the prices really low," said Think Markets analyst Naeem Aslam. With crypto-currencies on the rise around the world, there are concerns being raised about the technology being used by terrorists and criminals to evade digital tracking. WION's Archit Sinha brings you this report. (WION) × Bitcoin has more than tripled in price since the start of October, putting it on track for its best quarter since the end of 2013, when it surged above $1,000 for the first time. It slumped in 2014, after Mt Gox, then the world's biggest bitcoin exchange, collapsed, saying it had been hacked and had 650,000 bitcoins stolen. But some are warning that the launch of bitcoin futures, which will allow investors to take speculative "short" positions on the cryptocurrency, as well as "long" positions, could cause even greater volatility. The latest surge brought bitcoin`s "market cap" - its price multiplied by the total number of bitcoins in circulation - to more than $260 billion, according to Coinmarketcap, a trade website. That, in theory, makes its market value higher than that of Visa. In India, the Reserve Bank of India, on Tuesday, warned investors against the risks linked to Bitcoin. The RBI stated rapid growth in Initial Coin Offerings (ICOs) as a cause for concern which also makes virtual currencies highly volatile and risk-involving tools of investment.

Bitcoin soars beyond $15,000, climbs $2,000 in under 12 hours

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Luxury brands embrace cryptocurrency payments as Bitcoin surges

Bitcoin surges above $16,000 as concerns mount

Bitcoin soars beyond $15,000, climbs $2,000 in under 12 hours