Cryptocurrency is Empowering The Luxury Industry

Firstline

US aircraft sales company to accept bitcoin payments for $40m Gulfstream jet
Aviatrade, a New Jersey based aircraft company has announced that its six-year-old Gulfstream G650ER, can be purchased via cryptocurrency. With a nautical mile range of 7,500, this 14-seater private jet is an international favourite and has notable owners such as Jeff Bezos and Elon Musk.

Key Points

The company has enabled bitcoin payments for the simple reason that it is easily transferrable across countries that have cross-border currency transfer issues, or inaccessible currencies. The process is extremely systematic, and transparent, as the company is not trading bitcoin for bitcoin, but is dealing with an anonymous bitcoin payment service provider who will liquify the digital assets into cash.

Aviatrade’s novel decision has decidedly set a precedent for a plethora of other global sectors to follow suit in order to make their global payments smoother and smarter.

End Note

With Cryptocurrency being introduced on a large scale level to empower transactions in the Luxury Industry globally and across several verticals, the future of luxury does seem colourful in the coming years.