Cryptocurrency can now be used to purchase this multimillion-dollar aircraft
Aviatrade, an aircraft sales company, has joined the cryptocurrency trend by accepting Bitcoin from interested buyers. Their first aircraft listed for cryptocurrency purchase is a Gulfstream G650ER, a spacious private jet configured with three separate living areas and comfortable seating for 14 passengers.
The cash purchase price for this model is $40 million; the jet has logged fewer than 1,200 flight hours.
Previously operated in New Zealand and parts of Asia, the six-year-old aircraft is now returning to Gulfstream’s headquarters in Savannah, Georgia. While awaiting its new owner, it will undergo routine inspections and preparatory maintenance to ensure it meets all delivery standards.
As Gulfstream’s largest and current flagship model, the G650ER is a top choice among long-range private jets. High-profile owners of the same model include Jeff Bezos and Elon Musk. Its extended range makes it popular with intercontinental travelers who prefer not to refuel multiple times during long journeys.
The aviation industry has steadily moved toward integrating digital finance across multiple areas. Some airports have already embraced cryptocurrency: for example, Brisbane Airport announced in 2018 that passengers could spend digital currency at the airport’s retail and dining outlets.
Also in 2018, global payment platform Universal Air Travel Plan partnered with the digital trading platform Bitnet to enable more than 260 airlines to accept Bitcoin as a payment option. Participating carriers included Aeromexico, Air New Zealand, American Airlines, Austrian Airlines, China Eastern Airlines, Delta Air Lines, EL AL Israel Airlines, Etihad Airways, GOL Linhas Aéreas Inteligentes, Hahn Air, Japan Airlines, Lufthansa, Malaysia Airlines, Qantas Airways, Shandong Airlines, United Airlines and US Airways.
Proponents argue that cryptocurrencies can simplify travel by removing the need to carry and convert multiple currencies. Travelers can instead rely on digital wallets to manage payments and navigate services across airports and destinations.
Several companies have also explored blockchain beyond payments to enhance operational efficiency. In 2019, Norwegian announced the Norwegian Block Exchange (NBX) to facilitate payments within the aviation sector; the platform has since broadened its applications to other industries.
Beyond streamlining payments, airlines are investigating blockchain for decentralized data storage, secure record-keeping and online commerce, seeking ways to improve transparency, reduce intermediaries and strengthen data integrity across the industry.