KEY POINTS
Bitlux, a prominent private flight jet company, has disclosed that a significant portion of its bookings — one in three flights —has been paid for using cryptocurrencies.
As per a press release disclosed to Cryptoflies today, Bitlux has facilitated over 1,700 takeoffs and landings since early 2021, amassing more than $32 million in total revenue, which is roughly equivalent to 510 Bitcoins, since its establishment in 2018.
This revelation echoes a trend observed in 2022, wherein Bitlux reported that over half of its flights were booked using cryptocurrencies.
In an interview with Cryptoflies in October 2023, CEO Kyle Patel elaborated on the company’s approach to crypto payments and refunds, emphasizing the ease and efficiency they offer. Patel highlighted the benefits of cryptocurrency payments, citing “global, nearly instant, peer-to-peer payment processing,” with no intermediaries or delays typically associated with traditional payment methods.
Bitlux’s acceptance of cryptocurrencies extends to the top 10 coins listed on CoinMarketCap, including Bitcoin and Ethereum.
Bitlux is not the sole player embracing crypto payments; a growing number of businesses across various sectors, such as fashion, food, and technology, are integrating cryptocurrency payments into their operations to cater to evolving consumer preferences and tap into new market segments.
The wider acceptance of cryptocurrencies is indicative of their increasing mainstream adoption. According to CoinGecko data, the global cryptocurrency market capitalization presently stands at $2.47 trillion, reflecting a -8.35% change in the last 24 hours and a remarkable 100.96% change compared to a year ago. Bitcoin, the largest cryptocurrency by market capitalization, currently commands a market cap of $1.24 trillion.
