Forget about hip-hop albums, you can now buy a 30% stake in a Californian winery in exchange for a few bitcoins.
Mondo Cellars, situated in the rolling hills of Paso Robles, is selling a sizable chunk of its business in an effort to promote the use of bitcoin. It is not a small business, either.
The winery encompasses 80 acres and it produces white and red blends, including Syrah, Zinfandel and Mourvedre. It also features a small bed and breakfast, along with an on-site tasting room and outdoor event area.
However, it is not just about acquiring a stake in a wine cellar. Mondo hopes to use cryptocurrency to buy inventory, build buildings, plant new vineyards and pave roads.
Mondo wants to find more vendors willing to embrace new currencies, such as bitcoin.
The winery is looking for up to 15 investors willing to buy a 2% stake each. The 2% shares are valued at $100,000 denominated in bitcoin. The investors will not only receive an equity position in the winery, they will also get a few special perks, other than the occasional free bottle of Zinfandel.
Doug Mondo, co-owner of the winery explained:
“Our decision to get much more involved in bitcoin and other cryptocurrency is a lot deeper than just ‘it looks like it is viable,’. It makes sense that bitcoin and other cryptocurrency holders that were early adopters should diversify with a portion of their gains.”
The Mondo brothers are calling on investors to visit in person for a wine tasting experience and personal tour of the grounds.
They recently attended the Inside Bitcoin conference in Las Vegas where potential investors had the chance to chat and sample their wines.
The Mondos argue that many bitcoin investors are simply looking to diversify into tangible assets. Better yet, those tangible assets happen to produce wine and have a cosy bed and breakfast in the heart of California’s wine country.
Vineyard image via Shutterstock