Monday, March 8, 2021

A UK-based private jet charter company made 20% of the revenue from bitcoin payments.

The Takeaway:

A UK jet charter company has revealed that 20% of its yearly revenues were paid in bitcoin. Several other companies worldwide are now opening up to bitcoin.

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The narrative that bitcoin is rarely used for payment transactions has been debunked by several fields recently. Apart from Swiss residents being able to pay their canton taxes in BTC or Portuguese citizens paying their electricity bills. A UK-headquartered private jet charter company revealed that nearly 20% of its yearly revenue came in the form of the leading cryptocurrency.


PrivateFly earned 19% of its revenue in bitcoin. 

Founded in 2005, PrivateFly is a global private jet charter company that is also a member of several aviation industry bodies such as BACA, ACANA, and EBAA. Although the firm was negatively affected by the ongoing global pandemic developments, it revealed something rather compelling in its yearly revenue report. The information from PrivateFly reveals that almost 20% of the yearly revenue from travelers came in the form of bitcoin payments. A more in-depth look showed that 13% of all transactions in January this year were covered in bitcoin, while the percentage was slightly less (12%) in December 2020. 


Bitcoin nears $58,000 as its market cap touches $1 trillion. 

The price of the leading cryptocurrency has surged over $57,000 for the first time. The market cap of bitcoin has touched $1 trillion. At the time of writing, BTC is changing hands at just above $57,300 as it nears towards $58,000. The recent surge in bitcoin has been fueled by institutional interest in cryptocurrency. As reported earlier, Tesla purchased $1.5 worth of bitcoin and is working on to accept the leading cryptocurrency as a mode of payment for its electric cars. Portugal-based electricity retailer called Luzboa also announced that it’s looking into the necessary technological adaptation procedures to support bitcoin payments. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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