Popular Swiss luxury watchmaker Frank Muller has partnered with investing firm Regal Assets to release the first functional Bitcoin (BTC) storage watch.
The watch named “Encrypto” will function as a cold wallet for Bitcoin. Detailing its features, the watch is engraved with a unique public address on its dial and comes with a sealed USB drive which contains the private key.
Its producers say the watch’s wallet is unhackable and uses offline generated, non-deterministic TRNGs (True Random Numbers Generated). There is also added functionality to allow users check their BTC balance directly through their dial.
Regional Director of Franck Muller, Erol Baliyan remarks;
We always aim to impact the customer at an emotional level and create a bond between the customer and the timepiece. As a brand, we are a trend maker with a solid track record and are not shy when it comes to adopting innovation. Bitcoin is the millennial gold, is the perfect marriage between innovation and personal choice.
The Encrypto is priced at $9,800 to $50,600 (for the diamond encrusted version) and can be purchased with Bitcoin (BTC) or other traditional payment methods. The company is also considering production of similar time pieces to support other top-five cryptocurrencies including Ethereum (ETH) and Ripple (XRP).
Other Bitcoin Watches
This latest timepiece joins the likes of Hublot’s Big Bang Blockchain wristwatch which was launched last year. The Big Bang is a limited edition time piece with only 210 pieces available in reference to Bitcoin’s supply cap of 21 million coins; and can only be purchased with BTC.
Another bitcoin-themed wristwatch – Cryptomatic the first to spot the Bitcoin ‘B’ logo, sells for under $1000.
What do you think of the ‘Encrypto’? Share in the comments below!