MyGemma, an online platform that resells luxury goods, has begun accepting bitcoin and ethereum as payment for goods.

“…we continue to listen to our customers and implement new technologies ahead of the curve. Cryptocurrency users are one of the main consumers of luxury goods,” said Brown.

Firms that refuse to accept payments in cryptocurrency begin to lose their customers – they go to their competitors, who are more loyal to innovation.

Leading luxury brands such as Hublot are not ready to lose their customers and therefore they accept cryptocurrencies as payment for their products.