The watch market has been flooded with luxury timepieces like the Rolex Daytona and the Patek Philippe according to online watch trading platform Chronos24. This has impressively coincided with the drop in the price of bitcoin.
Explanations for this trend are varying with one claiming the market for trophy watches is starting to lose pace, while another chronicles the pumping of crypto assets in general as the source of the blame, thanks be to collector mindset for all that glitters with a ridiculously high price turned all the way up.
However, as some collectors are in tears, others are all smiles as cheaper bitcoin plus cheaper luxury watches equals bliss.
Bitcoin is a hard currency whose starkly contrasted, greatly protected and monetarily alluring rarity only increases when compared to any other market good. And a luxury Audemars Piguet only gets more valuable the more troubles it survives. Changing hands from moguls to nobles, to peasants, to sailors. Back again. Around in circles. Being a part of incredible tales from all over the world.
One may even find a chain of allegoric wisdom in these events. That elegant devices made with the cutting edge in human mechanical engineering precision and beatification, to measure the passage of time to aesthetic satisfaction should suffer along with Bitcoin, which measures human storage of time value for starters, is something that might seem made up in a sci-fi philosophy on “The Timeline”, but is the reality.
You couldn’t set it up any better if you tried.
It is no wonder that as a visionary business strategy, Chronos CEO Tim Stracke is considering a pullback of some devices (read “luxury watch hodling”) in anticipation of a spike in demand and subsequently, the price of each watch and eventually the company’s share value. But as one of the enlightened, betting on a $190,000 Patek Philippe Nautilus 5711A could not beat stashing an entire 8 bitcoin.
They are the better luxury watches if you ask me. The best. For all future time.