By Dan Caffrey, Reuters – The wine industry’s switch to bitcoin has made wine the first major consumer and investor to embrace the digital currency.
It is not a big jump for the wine business, which has long shunned the digital currencies and other tokens that are now making up the dominant part of the global economy.
But wine drinkers are buying bitcoin to store their digital currency savings, which is often a major source of income for businesses.
That is where BitcoinCork, a new wine crowdfunding platform, comes in.
It is backed by a venture capital firm that also invested in Coinbase and others.
“There is a significant consumer base for bitcoin that is willing to invest in digital currencies,” said Daniel Vaucher, the CEO of WineCork.
BitcoinCork offers consumers the chance to receive a bitcoin as a gift, and they can also sell bitcoin for wine.
The company launched its website last month, and its platform, launched by bitcoin exchange Mt.
Gox, is currently the fastest growing bitcoin exchange in the US, according to CoinDesk.
“I think bitcoin is going to be a great place to be,” said Matthew Kline, the co-founder of Wine & Spirits, an online marketplace for wine and spirits, and an industry group representing more than 2,000 wineries.
“The more consumers learn about bitcoin, the more they’ll be interested in the technology,” Kline said.
Bitcoin has attracted more attention as it has surged over the past year as it was the main alternative to the euro, with the price doubling between late 2014 and early 2015.
Its price soared to a record $1,500 on Wednesday from a year ago, and bitcoin has surged since.
Its price has also been driven by a surge in the value of the Japanese yen against the dollar.
Wine prices have remained relatively stable since the Brexit vote and are now well below $1.50 per bottle, according.
Bitcoin has surged to a price of more than $6,000 on Tuesday.
Bitcoin was first introduced in 2008 by an anonymous programmer who then used the code name Satoshi Nakamoto to create the first bitcoin.
The digital currency is backed and managed by a group of users, including Bitcoin miners, who use computer power to create and distribute the currency.
The value of bitcoin fluctuates based on the price of the bitcoin.
The price has increased more than 6,300 percent since the election of Donald Trump in November.
Bitcoin prices are expected to rebound in the second half of the year, though some analysts believe they could fall in 2018.
Some experts, including the economist and former chief economist of the World Bank, Joseph Stiglitz, have warned that bitcoin could eventually be a bubble, if it continues to grow.
“In the short run, it’s probably not going to have much effect,” Stigliz told Reuters in a phone interview.
“It’s not going away,” he said, “but in the long run, we will have to deal with it.”(Additional reporting by David Bailey; Editing by Peter Cooney and Leslie Adler)