Here’s a piece of quirky crypto news! Investors of cryptocurrency love to indulge in streetwear and in turn the retailers of streetwear prefer being paid in cryptocurrency. Finman is a 19-year-old and the subject of interest of a documentary, produced by CNBC, that chronicles the lives of cryptocurrency millionaires. Erik says that the viewers can imagine to see a day in the life of a crypto millionaire where the rich crypto guy goes to sleep in a bed of dollar bills, wrapped in a blanket of more money. Everything that he uses from his toothbrush and bathroom slippers to his hot private jet is of the highest quality or brand. Even though Finman later joked about the whole thing, he could not deny the fact that this is exactly what his days in life are like.
With the booming price of Bitcoin, the intersection between streetwear retailers and cryptocurrency investors has deepened into something appalling and hilarious! Even the kids have turned into cryptocurrency investors by lifting the streetwear, paying with crypto currencies and accumulating more and more wealth and going out on more crazy shopping sprees. This whole process is encouraging streetwear retailers to receive payment in terms of cryptocurrency.
Finman had begun to invest in Bitcoin at a tender age of twelve with a dream to become a millionaire within the next few years. And sure enough, by the time he reached 15, he possessed enough currency to auction off a 100,000 million dollars of Bitcoins. A couple of years later, he entered the field of streetwear with his Bitcoins and in no time his fortune skyrocketed. At this point, he shops anything with a hot brand to it, be it a Louis Vuitton or a Supreme bag, Yeezy designed by Kanye West, Adidas, Stan Smiths etc. because nothing, no matter how costly, can exceed his budget range.
Finman nourishes his undying love for clothes and buys a lot to keep pace with the community of crypto millionaires, and is literally on a mission to purchase all the red-hot, branded garments in the world and flaunt his digital affluence to the world.
Till date, the number of retailers is still quite low, but the ones who are accepting Bitcoin as a mode of payment are exclusively keen on the Blockchain technology. Johnson of Overstock, a retailer, began accepting Bitcoins in 2013, although only 0.25% of the total revenue is funded by Bitcoins so far. The retailer who is frequented by Finman is “Fancy” has made amazing profits by accepting crypto currency as payment. Apkarian of Jeffersons Apparel, believes that cryptocurrency payment only adds to his current stash of coins and forms only 1-6% of total orders, so little that he does not bother with converting the crypto to dollars. Instead he saves it for future investment. A lot of people are entering the cryptocurrency trade and investment market for their love for streetwear and millionaire dreams.