Benzinga | Nov 9, 2021 11:40AM EST

EXCLUSIVE: Gaucho Group Holdings' Algodon Wine Estates Announced It Completed Its First Lot Sale Utilizing Cryptocurrency

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(tm)

(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.