Cash is no longer king for some buyers who are looking to make use of cryptocurrency for multimillion-dollar purchases and one aircraft sales firm is now accepting bitcoin as a form of payment.
Aviatrade just introduced a new payment platform for its aircraft inventory allowing buyers to pay with any kind of cryptocurrency and the first plane available for purchase with the virtual money is a Gulfstream G650ER that just came on the market. The six-year-old plane has spent time in New Zealand and Asia but is now returning to its birthplace at Gulfstream's headquarters in Savannah, Georgia as it undergoes routine inspections and awaits a new owner.
The G650ER is the American private jet manufacturer's current flagship as the largest aircraft in its lineup with famous owners including Elon Musk and Jeff Bezos. The 7,500-nautical mile range of the aircraft makes it a favorite among frequent intercontinental jet setters who don't have to make as many time-wasting fuel stops when using the G650ER.
The use of cryptocurrency has soared in developing countries with unreliable currency and the wealthy are also turning to virtual wallets when making high-level purchases. Using cash to buy a plane would be subject to cross-border restrictions for some countries, especially when the purchase price for this Gulfstream is $40 million, according to Aviatrade's president, Philip Rushton.
Take a look at the plane that can be bought with bitcoin.