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Private Jet Selling Firm Accepted Crypto As Means of Payment

By Katelyn James | September 16, 2020
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Private aircraft sales firm Aviatrade from the US has reportedly added Bitcoin to the list of accepted payment methods for buying their multi-million dollar jets. 

Specifically, the US firm is reportedly placing an upgraded 2014 Gulfstream G650ER for sale at the price of $40 million – approximately equivalent to 3,750 Bitcoin (BTC).

“We accept Bitcoin as payment for all bizjet [business jet] purchases” The information is reportedly revealed via the web page of Aviatrade. 

Aviatrade president Philip Rushton reportedly claimed that the option of using fiat as a means of payment for aircraft would be subjected to a few issues, nominally cross-border restrictions in numerous nations. Cryptocurrencies will reportedly come with a reduced amount of regulatory oversight at the moment. 

The firm reportedly did not disclose the exact pricing for any of its aircraft, but crypto traders are not necessarily required to “settle” for the Gulfstream. 

Aviatrade has reportedly finalized the listing of 13 other private business jets for purchasing already, including two Bombardier Global 7500s. Up to June last year, the estimated value for these aircrafts were $72.8 million, or over 6,800 BTC.

Many other firms have added crypto to the list of accepted means of payments prior to Aviatrade’s initiative. In June this year, Kaizen Aerospace chairman Fabrizio Pol reportedly disclosed that Kaizen would “take payments in Bitcoin and other cryptocurrencies” for its charter and cargo services or to buy a private jet.

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