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Source: Gaucho Group Holdings, Inc.
NEW YORK, NY, March 8, 2021 -- Gaucho Group Holdings, Inc. (NASDAQ:VINO), a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods & accessories, today announced that its luxury residential vineyard real estate project, Algodon Wine Estates, can now accept Bitcoin as payment to purchase its Phase 1 homesites.
The market acceptance of digital currency as a medium of exchange is growing rapidly. Bitcoin, a decentralized digital currency void of a central bank or single administrator, can be transferred from user to user on the peer-to-peer bitcoin network without the need for any intermediaries. Transactions are verified by network nodes through cryptography, and recorded in a public distributed ledger called a blockchain.
“We continually look for innovative ways for people to invest in our assets.” said Scott Mathis, CEO & Chairman of Gaucho Group Holdings, Inc. “COVID-19 has forced governments throughout the globe to react in a manner that we believe could directly correlate with an increased rate of inflation. In such a scenario, we believe real estate can offer the opportunity for investors to diversify their holdings and the use of cryptocurrency offers the opportunity to adjust direct exposure to US-based equities and capital. At the same time, Argentina has seen a surge in crypto-related ventures. Accordingly, we believe accepting Bitcoin provides investors an opportunity to realize returns on some of their crypto-assets, and we feel this provides another opportunity for Algodon Wine Estates to grow and gain exposure in the marketplace.”
Algodon Wine Estates is a 4,138 acre (1,675 ha) world-class wine, wellness, culinary and sport resort, and luxury real estate development, located in the rolling hills of the Sierra Pintada Mountains in San Rafael, Mendoza, Argentina. This wine and golf community is surrounded by the natural beauty of vineyards, which are responsible for producing the wines of Algodon Fine Wines, as well as a boutique hotel, and amenities such as a nine-hole golf course (with an additional nine holes forthcoming), grand slam style tennis courts, a year-round restaurant serving traditional Argentine cuisine, and other services. More than 100 vineyard lots overlook the golf course, and the wines cultivated at the estate have garnered multiple awards from international tasting competitions.
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc.’s (gauchoholdings.com) mission has been to source and develop opportunities in Argentina's undervalued luxury real estate and consumer marketplace. Our company has positioned itself to take advantage of the continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com), and luxury real estate (algodonwineestates.com) associated with our proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho – Buenos Aires™ (gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Gaucho Group Holdings, Inc.
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