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Cryptocurrency users are leveraging their new-found wealth to fly more often with private jets. This week the directional aviation company Privatefly revealed that close to 20% of the firm\u2019s sales were paid in cryptocurrencies last month, and 13% out of that aggregate used bitcoin.<\/strong><\/p>\n According to data from the company Privatefly<\/a>, purchasing flights with digital assets has soared in recent times. For instance, the directional aviation company said a few years ago, the company pulled in 1-2% from crypto payments for flights. The numbers jumped significantly in December 2020 to 12%, and subsequently spiked to 13% during the first month of 2021. Out of the 13% in BTC<\/a> payments, cryptocurrency settlement, in general, makes up 19% of Privatefly\u2019s revenue.<\/p>\n The flight company says that Privatefly started accepting bitcoin early in 2014 and since then, it has expanded its cryptocurrency support. The company uses Bitpay for one-off flights or memberships, and this week it has started a new bitcoin program. Privatefly has launched the \u201cBitcoin Jet Account,\u201d which allows customers to hold their BTC<\/a> and open a membership at the same time, but keep the funds held in crypto.<\/p>\n \u201cWhile we have accepted bitcoin payments for many years now,\u201d Adam Twidell, Privatefly\u2019s CEO said. \u201cCryptocurrency transactions have really taken off in recent months. These are in line with Bitcoin\u2019s climb in value \u2013 to the extent that 13% of our flights were paid for in this way last month. We have previously seen just 1-2% each month,\u201d the CEO added.<\/p>\n Twidell continued:<\/p>\n Some of these are clients who are looking to realise their gains, while others want to hold onto their cryptocurrency, in expectation of future increases. So, in addition to taking out a membership with us in bitcoin and converting the account funds into traditional currency (as we have offered for a while), we now offer a membership program that allows the account funds to stay in bitcoin.<\/strong><\/em><\/p>\n<\/blockquote>\n <\/ins> <\/ins> <\/p>\n Privatefly explained that years ago, that the Belgian tech entrepreneur, Olivier Janssens, was the firm\u2019s first customer to pay in bitcoin. Janssens took a flight to Nice Cote D\u2019Azur from Brussels and booked and paid for the trip on the same day.<\/p>\n \u201cThe flight was the biggest Bitcoin payment transaction I have made,\u201d Janssens said at the time. \u201cBut it was very easy and efficient, particularly as I wanted to fly at very short notice. It was the perfect way to pay.\u201d<\/p>\n Recently, Credit Suisse Group AG, BNP Paribas SA, and a number of other financial institutions said<\/a> demand for private jets has increased massively and should continue throughout 2021. \u201cLooking back we had a very good year and much, much better than expected,\u201d the chief of aviation for the equipment-finance unit of Societe Generale SA, Werner Slavik, noted during a Jet Investor event.<\/p>\n The aviation company Privatefly offers one-off \u2018on-demand\u2019 private flights, but regular patrons can also create a membership account and deposit funds regularly. \u201cPrivatefly has always sought to make private jet travel easier to book, combining innovative technology with deep industry expertise and the secure backing of one of the world\u2019s largest private aviation groups, with annual revenues of over $2 billion,\u201d Twidell noted during the announcement.<\/p>\n \u201cMany of our clients are tech-savvy and entrepreneurial people, which is why we started accepting bitcoin payments for one-off flights in 2014, a world-first at the time,\u201d Twidell concluded. \u201cWe are now the first to offer a private jet membership program based on bitcoin funds.\u201d<\/p>\n Privatefly also supports payments in bitcoin cash (BCH<\/a>), ethereum (ETH<\/a>), and four USD-pegged stablecoins (GUSD, USDC, PAX, and BUSD).<\/p>\nOn-Demand Private Flights and Crypto<\/h2>\n
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\u2018The Perfect Way to Pay\u2019<\/h2>\n