The private airline has started letting customers buy some of its aircraft for several million dollars with Bitcoin.
US-based Aviatrade is currently selling the redesigned 2014 Gulfstream G650ER for $ 40 million – approximately 3,750 Bitcoin (BTC) at the time of writing, according to a News Insider report released on September 13th. Reportedly, billionaires including Amazon’s Jeff Bezos and Tesla CEO Elon Musk have the same model that can travel up to 7,500 nautical miles, or roughly the distance between Los Angeles and Sydney.
“We accept Bitcoin as a payment method for all bizjet [business jet] purchases,” the Aviatrade website says.
Aviatrade President Philip Rushton said that using paper money to purchase a private jet would be subject to cross-border restrictions in some countries. Cryptocurrencies seem to provide less regulatory oversight at the moment.
The company does not offer set rates for any of its aircraft, but cryptocurrency dealers do not need to “settle” with Gulfstream. Aviatrade is currently listing 13 other private business jets for sale, including two Bombardier Global 7500 aircraft. As of June 2019, they are valued at $ 72.8 million, or more than 6800 Bitcoin.
The airline is not the first to accept cryptocurrencies. In June, Kaizen Aerospace’s president, Fabrizio Poli, announced in an interview with Bitcoin teacher Andreas Antonopoulos that Kaizen “accepts payments in bitcoin and other cryptocurrencies” for charter and shipping services or for the purchase of a private jet.
Antonopoulos compared selling a plane to millions of dollars to selling a Mini Cooper for cryptocurrency:
“They did a quick test,” said the bitcoin teacher. “When they came back, I signed the address and I was completely confident that the money I received was real and unforgettable, that it is completely mine and cannot be returned, so these transactions were very easy. I see it easily translates into buying or selling an aircraft.”