fbpx

Private Jet Booking Company Claims Its Sales Grows on Bitcoin Payments

UK-based private jet charter flight booking service PrivateFly has announced that bitcoin (BTC) payments accelerated this past January. (Updated on February 17)

Payments in BTC generated 19% of the company’s revenue last month, and 13% of the flights were paid in bitcoin. This is a robust increase compared with the typical 1%-2% monthly share of such payments PrivateFly posted in recent years. The company did not provide any other numbers.

The aviation business, which started accepting BTC in 2014, claims that the recent spike in bitcoin’s value helped the company too.

“We’ve accepted bitcoin payments for many years now, but transactions in the cryptocurrency have really taken off in recent months, alongside its climb in value,” PrivateFly said in a statement.

Meanwhile, the company said that, in addition to bitcoin, it also accepts payments in other cryptoassets and stablecoins, such as ethereum (ETH), bitcoin cash (BCH), and USD coin (USDC), among others.

This said, payments made in other cryptocurrencies are negligible in comparison to bitcoin which currently dominates the company’s cryptocurrency revenue stream, Adam Twidell, CEO of PrivateFly.

“And ever since we’ve seen a small proportion of clients choosing this option, for one-off flights or our Jet Account membership, which gives clients streamlined booking and additional benefits when they place funds on account with us. Clients pay us via BitPay, and we immediately transfer the funds into pounds, euros or dollars,” according to the business.

Leave A Reply

Your email address will not be published. Required fields are marked *