The Bitcoin community and user base continues to expand and businesses old and new are embracing this new digital, decentralized cryptocurrency to simplify the payment process and meet consumer needs. The quantity and variety of businesses accepting payment in Bitcoin continues to expand. From real estate sites to now watch factories, Bitcoin has been embraced to simplify payment and incentivize merchants to sell products and in turn deal with fewer transaction fees.

Just this week, Russia’s historical watch factory Raketa, began accepting Bitcoins. Raketa was founded in 1721 by Peter the Great and is the oldest factory in Russia. For almost 300 years, Raketa, formerly known as Petrodvorets Watch Factory, has produced and sold wristwatches to individuals in Russian and those around the world. Petrodvorets Watch Factory was renamed Raketa in 1961 to honor the World’s first cosmonaut Yuri Gagarin. Yuri was the first human to travel to outer space.

This is a significant step in the right direction for the Bitcoin community. Over the years Raketa’s watches have been produced for the members of the Red Army, Soviet Navy, North Pole expeditions and civilians. Not only is Raketa respected by Russian leadership, but also popular with the public having an array of watch designs from practical to fashionable. Raketa even has the last remaining watchmaking school and operates this training program in conjunction with the Saint Petersberg Technical Institute. Raketa is just not another watch brand or shop, but has deep roots within Russia and a global reach. We can expect Raketa’s step to embrace the Bitcoin currency as a catalyst for other businesses in Russian and around the world to transact in Bitcoin.

Raketa produces all mechanical movements in-house, setting this watch factory apart. Raketa is now unique in an even more significant way in that it currently stands as the only watch factory to date accepting Bitcoins for payment. Factory Director, Jacques von Polier stated, “It is very easy to accept Bitcoins… you just put a logo on your site saying- we accept bitcoins- and that’s it. It is as simple as saying we accept cash!” Manufacturers and merchants can heed Von Polier’s example of taking an easy step and in the long run a very beneficial step of accepting Bitcoins.



Bitcoin Magazine encourages businesses to follow suite and accept this alternative payment method which not only alleviates merchant woes, but also makes payment much more convenient for customers. Check out Raketa’s watch selection and feel free to look into making a purchase in Bitcoin today.