Luxury Real Estate Development Expands Diversification Opportunity for Global Investors
NEW YORK, NY / ACCESSWIRE / November 9, 2021 / Gaucho Group Holdings, Inc. (NASDAQ:VINO), a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods & accessories, today announced its luxury residential vineyard real estate project, Algodon Wine Estates, had completed its first lot sale utilizing cryptocurrency.
Cryptocurrencies, decentralized digital currencies void of a central bank or single administrator, can be transferred from user to user on the peer-to-peer cryptocurrency network without the need for any intermediaries. Transactions are verified by network nodes through cryptography, and recorded in a public distributed ledger called a blockchain.
"This is an exciting development at Algodon Wine Estates," said Scott Mathis, CEO & Chairman of Gaucho Group Holdings. "The acceptance of digital currency as a medium of exchange continues to gather momentum as, among other causes, investors across the globe witness the impact of central bank actions on currency valuations and as a result are seeking alternative stores of value. At the same time, investors are beginning to recognize the opportunity for diversification that luxury real estate in Argentina presents.
"This cryptocurrency-based transaction represents the first of what we believe could be many more such transactions as some cryptocurrency holders look to deploy some of their holdings into various hard assets around the world. As the world continues to emerge from the pandemic, we have expected to see a resurgence in interest from traditional investors and luxury buyers in Algodon Wine Estates. The addition of investors utilizing cryptocurrency as a medium of exchange could expand that investor base significantly, to the benefit of Gaucho Holdings."
Global investors also have a unique opportunity at Algodon Wine Estates, where in addition to luxury vineyard ownership, investors can access a combination of world class wine, wellness, culinary and sports destinations. Gaucho Holdings recently completed its first water well, and has begun drilling a second well, in what the company ultimately believes may potentially add up to six additional wells, significantly enhancing the appeal and ultimately the value of plots at the Estates.
Algodon Wine Estates is a 4,138 acre (1,675 ha) world-class wine, wellness, culinary and sport resort, and luxury real estate development, located in the rolling hills of the Sierra Pintada Mountains in San Rafael, Mendoza, Argentina. This wine and golf community is surrounded by the natural beauty of vineyards, which are responsible for producing the wines of Algodon Fine Wines, as well as a boutique hotel, and amenities such as a nine-hole golf course (with an additional nine holes forthcoming), grand slam style tennis courts, a year-round restaurant serving traditional Argentine cuisine, and other services. More than 100 vineyard lots overlook the golf course, and the wines cultivated at the estate have garnered multiple awards from international tasting competitions.
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc.'s (gauchoholdings.com) mission has been to source and develop opportunities in Argentina's undervalued luxury real estate and consumer marketplace. Our company has positioned itself to take advantage of the continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com), and luxury real estate (algodonwineestates.com) associated with our proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho - Buenos Aires (gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Media Relations:
Gaucho Group Holdings, Inc.
Rick Stear
Director of Marketing
212.739.7669
rstear@gauchoholdings.com
Investor Relations:
John McNamara
917.658.2602
john@tradigitalir.com
SOURCE: Gaucho Group Holdings, Inc.
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