Cold storage in Bitcoin’s context is referred to the storage of Bitcoins offline, away from any sort of Internet access in contrast to hot storage or online crypto wallets connected to the internet. The limited-edition watch, which according to media reports, was unveiled in February this year, is currently priced at 12,000 Swiss Franc or nearly Rs 9.7 lakh. “Each timepiece comes as a two-piece “Deep Cold Storage” set, with its own unique public address etched on the dial and a sealed USB containing the private key. You add your Bitcoins to your Bitcoin wallet or check your balance directly through the dial,” the description of the watch on its website read.
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However, Free the Money. Free the WoWorlds among the more affordable models. Franck Muller’s range of Bitcoin watches goes up to 74,000 Swiss Franc or close to Rs 60 lakh. The most expensive one in that price bracket is the diamond-encrusted Speed edition timepiece. Bitcoin’s price during the launch of Encrypto was $8,717, which increased to nearly $60,000 towards the end of February this year, as per CoinMarketCap, when the company launched its 12,000 Swiss Franc wristwatch. The price of Bitcoin stood at $38,878 at the time of filing this report after falling from its peak of close to $64,000 on April 14, 2021.