20 October 2020
Today many cryptocurrency lovers consider cash as trash. Now buyers can use cryptocurrency to buy multimillion-dollar aircraft by paying in Bitcoins.
Avitrade, an aircraft company introduced a new payment platform for its aircraft inventory allowing buyers to pay in cryptocurrency. Gulfstream G650ER is the first plane that has come in the market available through virtual currency. This plane is 6 years old and has to spend time in New Zealand and Asia. The aircraft will now return to its birthplace at Gulfstream’s headquarters in Savannah, Georgia, and will undergo routine inspections for the new owner.
The G650ER previous owners were Elon Musk and Jeff Bezos and now it has become the American Private jet manufacturer’s current flagship. The G650ER has a 7,500 nautical mile range which makes it a favorite aircraft among the intercontinental jet setters who don’t have to make as many time-wasting fuel stops.
The use of cryptocurrency has increased in developing countries and the wealthy are also turning to virtual wallets while making any high purchase. Avitrade’s president, Philip Rushton, believes that cash can be subject to restrictions for cross-border payment using cash, especially when the price for Gulfstream aircraft is $40 million.