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Hublot’s Big Bang Meca-10 P2P Limited Edition can be purchased only with bitcoin

Good old American dollars won’t be good enough for this luxury watch.

While traditional watchmakers cling to the days of yore in a bid to boost the historic allure of mechanical watchmaking, Hublot has leapt head first into modern technology. From creating the world’s only scratch-resistant gold alloy to launching a video called Digital Boutique in New York last year, the independent brand has never shied from the modern world. Its latest watch reinforces this to great, if somewhat surprising, effect: The Big Bang Meca-10 P2P Limited Edition can be purchased only with bitcoin.

(RELATED: Hublot’s new ‘Big Bang’ set with Paraiba tourmalines)

The cryptocurrency hasn’t had an easy 2018, having fallen more than 80 per cent since its heyday in 2017, but pricing for the watch is quite simple. Valued at US$25,000 (S$34,200), the new Big Bang’s price in bitcoin will be determined on the day of the purchase to accommodate the currency’s frequent price fluctuations. When the watch was first launched in November last year, the price was about 3.99 bitcoin.

There are subtle references to the digital theme throughout the watch’s design. The 45mm microblasted black ceramic watch is limited to 210 pieces, a reference to the global limit of bitcoin, which is fixed at 21 million. The skeletonised HUB1201 movement offers 10 days of power reserve, a number chosen to honour the 10-year anniversary of bitcoin. Finally, the blue calfskin-lined rubber strap features a pattern inspired by interconnected computer networks.

(RELATED: The 60-second watch brand guide: Hublot)

Each watch will bear the identification number of the bitcoin transaction, making it unique to its buyer. Handling the transaction is digital asset brokerage firm Octagon Strategy Limited, which will take care of processing customer data.

While Hublot is likely the first brand to offer a bitcoin-only watch, online retailers like Watchbox and Bitdials also accept bitcoin for their range of luxury timepieces.

And there’s still hope for the cryptocurrency, seeing as Intercontinental Exchange, Nasdaq and Van Eck are planning to launch bitcoin futures soon.

Best to keep mining.

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(RELATED: 10 years on: How bitcoin continues to divide opinion)