Florida-based yacht broker Denison Yachting announced the company now accepts bitcoin and other cryptocurrency projects as payments for its latest high-end yachts. The announcement came at the popular annual Miami International Boat Show event.
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Digital currencies have gained a considerable amount of attraction from businesses, especially the luxury service providers. Last year, startup entrepreneur Peter Saddington purchased a Lamborghini using his Bitcoin holdings. Now? The crypto wealthy can use their cryptocurrencies to purchase a luxury yacht.
Bob Denison — founder and president of Denison Yachting — said:
“It is our job as the dealer or broker to make purchases as easy as possible. So for us, this is just another effort to come to where the client is. Sometimes my friends on the dock act like this is a marketing gimmick, but we’ve actually gotten results from it and I truly believe in it.”
Liquefy Bitcoin Wealth with Luxury
Since Denison Yachting has been accepting bitcoin, the company has performed three boat sales through the cryptocurrency. Bob Denison recently commented that through “the sale of just one medium-sized yacht using this currency, we would be poised to make the largest bitcoin transaction in history.”
The growth of the cryptoeconomy and its popularity is dependent on more businesses offering clients the option to pay in cryptocurrencies. It is approximated that the global bitcoin payment service provider BitPay has more than 50,000 businesses worldwide using its services today.
Denison is convinced that cryptocurrencies will have a good and stable market in the future. However, he points out that accepting virtual currencies can be risky:
“Inherently there would be a little bit of a risk, but I truly believe in the future of cryptocurrency and I truly believe it will stabilize. The more [adoption happens] happen the less crazy it will sound.”
A Change in Reputation
In a recent interview, Denison highlighted that more businesses embracing virtual currencies as a payment method will help change the overall reputation of cryptocurrencies.
The yacht broker commented:
“There is a misnomer about cryptocurrency, that the only reason people are moving in this direction is to be anonymous. Then you start having that conversation about the legal underworld part of it. The more you get people transacting in bitcoin for things like cars and homes and boats, the more obvious it is that this thing is a lot more transparent.”
Will the acceptance of bitcoin by luxury businesses have any positive impact on its volatility? Let us know your opinion in the comments section.
Images via Superyachts, Business Insider