North Canterbury, New Zealand, has become home to the first wine business to accept bitcoin in the southern part of the globe.
This was decided back in December, in order to simplify the way Pyramid Valley Vineyards would conduct domestic and international consumerism. The New Zealand based winery creates collectible wines and realizes the potential bitcoin has to further grow and revitalize the wine industry. Through immediate and direct exchanges, bitcoin has freed such markets of restrictive trading.
Caine Thompson, managing director of Pyramid Valley, stated: “We live in exciting times, and bitcoin is a movement that is gaining huge international traction as a currency that is borderless.”
“We’re increasingly getting requests from our international customers to be able to pay with bitcoin, particularly for our exclusive Home Collection wines. They don’t want to be worried about exchange rates and costly transaction fees.”
Thompson and his company have joined the revolution in the way wine can be sold, which eases transactions by excluding confusing exchange rates and fees. “Bitcoin is a logical fit that we need to be a part of. As a company that is increasing our customer base around the world, it makes sense to accept payment in bitcoin, especially when we sell our wines across the globe direct through our website.”
In addition, Thompson claims sales were good over the 2013 holiday season, both online and with the use of the bitcoin payment options.
“We have been surprised with the level of interest in bitcoin and the amount of people that are purchasing with bitcoin. In the December period, bitcoin sales accounted for 9% of our online sales, which is significant. Transactions are predominantly from New Zealand, with growing purchases each month from offshore customers.”
Pyramid Valley Vineyards was founded in 2000 by Mike and Claudia Weersing and has quickly become one of New Zealand’s leading wine manufacturers.
Thompson ended with: “We continually challenge the status quo, push boundaries and the current paradigm. When this is at the core of your culture, it makes for one incredibly exciting company with freedom.”
A freedom more easily achievable with bitcoin.