Louis Vuitton boss Bernard Arnault denies setting up a firm in Belgium to invest in crypto

Bernard Arnault, chairman and CEO of luxury goods brand Louis Vuitton (LVMH), has denied media reports that he had set up a firm in Belgium to invest in cryptocurrencies.

Earlier today, Belgian newspaper De Tijd reported that Arnault, who is currently France’s richest man and the world’s fourth-richest man, has established Abesix Belgique in Brussels.

The report further said that the established firm will be engaged in trading of cryptocurrencies such as bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and XRP, litecoin (LTC) and dogecoin (DOGE).

However, later it updated the report saying, “after publication, this message was formally denied by Bernard Arnault.”

Arnault, however, has been pro blockchain. Earlier this year, his firm LVMH, which owns brands like Louis Vuitton and Christian Dior, launched a blockchain platform for tracking its high-end products.