Rolex and crypto

[Oystersteel92]

Originally Posted by 4reRlxGuy

The covid watch craze IMHO was fueled by a perfect storm. Cheap $, free PPP $, people stuck at home with nowhere to spend $, and a lot of hype (watch asset returns beating wall street and real estate).

Originally Posted by Krash

The “watch craze” began a couple years before COVID. People keep losing sight of that.


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Yes, Rolex had got unusually popular in the late 20-teens, but Covid just threw gasoline on the fire. I think more people made money in the meme stock short squeezes of 2020 than have from Bitcoin.

I hesitate to make any predictions, but my overall feeling is that availability will continue to improve gradually, but it's unlikely the days of full cases are coming back unless we have massive unemployment (8-10% at least) causing people to scramble for liquidity.

[Oystersteel92]

Originally Posted by Quaress

It is not such a gamble, the maximum number of bitcoins is 21,000,000 and now there about 93,6% in circulation. If every millionaire in the world wanted to have at least 1 Bitcoin, he has no chance of getting it. In a few years it will be from $1 million and up. Way better than gold and we're just getting started in the whole Cryptocurrency.

I have made several million dollars in cryptocurrencies. Cheers.

I agree it's way better than gold, which as everyone knows, you can't eat.

If you don't own a green Lambo, you're doing it wrong.

[gwozhog]

Hoping to buy my first solid gold sub with Kaspa profits this bullrun.

[MILGAUSS88]

I agree that crypto was a large part of the run up, but I think mostly on the hype watches.
Daytona's, Aquanauts, Royal Oaks, etc.

The rest was China. Your Subs, GMT's, Patek dress watches.

[enjoythemusic]

ummmm... not Rolex... sorta. Omega did tho.

To the moon with Diamond hands.

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[TC94]

Originally Posted by zengineer

Because the rise and fall of bitcoin wasn't then and isn't now a significant driver. Very few people, including Rolex buyers, have bitcoin as a significant holding.

Correlation is not causation.

40% of the US population holds cryptocurrencies.

“Significant” is the key term in your post though. What is currently a small amount could become significant as prices rise.

Whether luxury goods sales will increase is an unknown. Remember that TRF also doesn’t represent the majority of Rolex buyers. We are the crazy enthusiasts, not average watch owners.

[worldofoyster]

BTC is a bubble, watch out people