According to a report dated May 23, Swiss premium watchmaker, Frank Muller has joined hands with alternative assets investing firm (Regal Assets) with the intention of coming up with a bitcoin (BTC) storage watch dubbed ‘Encrypto.’
As per reports, Encrypto apart from being a high-end premium watch with price ranging from $9,800 to $50,600, also works as a cold wallet for bitcoin. Reports further claim that Encrypto is embossed with a public address on its dial and is readily paired with a private key on a USB drive.
As per the firm, the “deep cold storage wallet” is unhackable and uses “offline generated, non-deterministic TRNGs (True Random Numbers Generated).” In one of the press releases by Regal Assets, Erol Baliyan – regional director, Frank Muller commented that “Bitcoin is the millennial gold.”
He further went on to state that “Bitcoin is the […] perfect marriage between innovation and personal choice.” Reports also claim that the Encrypto is available for purchase with BTC as well as traditional payment methods. Moreover, the firm is considering the production of functionality similar timepieces that support five leading cryptocurrencies like Ether (ETH) and Ripple (XRP.)
As per previous reports, Vacheron Constantin, another leading Swiss watchmaker, will begin the use of blockchain technology in order to track its timepieces. In the year 2018, it was reported that Hublot (Swiss luxury watchmaker) came out with a limited edition watch celebrating the tenth anniversary of the bitcoin whitepaper.
The specific watch – Big Bang Blockchain could only be purchased with bitcoin. A total of 210 copies were made of this watch. However, a reference to Bitcoin fixed supply cap of 21 million coins.