Sharp Pixels begins taking bitcoin

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The company, Sharps Pixley, announced on September 26 that it would start accepting the cryptocurrency through a partnership with with payments processor startup BitPay.

In statements, the representatives of the company designated this step as a way to offer wealthier customers a way to invest in gold, using their cryptocurrency stores instead of money.

Ross Norman, the chief executive of the firm said that many investors in bitcoin would like to be able to maintain their intrinsic value in a traditional safe haven asset, such as gold, and be able to to switch across in a simple and economical way.

The Sharps Pixley brand dates back to the 18th century, although it has changed several times over decades, including the period during which Deutsche Bank owned property. Its current owner, Degussa Goldhandel, opened last year an upscale showroom in London.

Since its inception, bitcoin has attracted considerable interest from gold merchants (and their customers), although some notable investors in precious metal are not so keen on cryptocurrency. The basic technology Bitcoin, blockchain, is also used to create new types of gold trading systems, including the development under the auspices of the U.K.’s Royal Mint.