It appears cash is no longer king for some aircraft buyers who are looking to make use of cryptocurrency. When considering a multimillion-dollar purchase, an aircraft sales firm is now accepting bitcoin as a form of payment, pretty cool right?
Aviatrade, a private airplane sales agency, has launched a new payment platform enabling Bitcoin and other cryptocurrencies as payment for its multimillion-dollar aircraft, according to Business Insider.
Their latest showroom special is an upgraded 2014 Gulfstream G650ER for $40 million — which is roughly 3,750 Bitcoin. For context, billionaires such as Amazon’s Jeff Bezos and Tesla CEO Elon Musk own the same model. Upon purchase, this aircraft is capable of traveling up to 7,500 nautical miles (Which is roughly the distance between Los Angeles and Sydney).
This move from Aviatrade clearly shows how private airplane sellers are turning to cryptocurrency in order to lure interest from overseas and international buyers. The rise in popularity of cryptocurrency has risen dramatically in developing countries, where unreliable currency is driving the wealthy to use virtual wallets when making high-level purchases. This has provided a welcome alternative, as using cash to buy a plane would be subject to cross-border restrictions in some countries.
Aviatrade isn’t the first to do this, companies such as Kaizen Aerospace have driven the trend of a growing list of firms to accept cryptocurrencies as payment. This can range from private planes, to anything such as flights and hotels, or even rarer items such as gold, jewellery and art.
Do you have enough Bitcoin in your virtual wallet? Now you have a great way to put it to use.