While several banks announced that they don’t allow their clients to make cryptocurrency purchases using credit cards, a yacht company from Florida now allows people to buy new, ultra-luxurious models using Bitcoin, as well as other coins.
According to CNBC, dealer Denison Yachting let visitors at the Miami International Boat Show know that they can now use their virtual assets to get a new boat.
A new opportunity for crypto millionaires
“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,” said Bob Denison, president and founder of Denison Yachting.”
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,” he added.
Besides Bitcoin, users can make purchases using Bitcoin Cash, Ethereum, as well as Tron, a coin developed by Justin Sun, former Ripple advisor and entrepreneur.
Over the past weeks, all cryptocurrencies went on a wild ride, proving once again that most of them can be really volatile. We all know how Bitcoin went from $20,000 to less than $7,000 a few days ago, so, considering this, is it wise for Denison Yachting to accept this payment method?
The company is aware of the risks
“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 [transactions like this] happen the less crazy it will sound,” Bob Denison said.
Mr. Denison is a cryptocurrency enthusiast himself, starting investing in digital assets about a year ago. Currently, he has small holdings in Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. However, he declares that Tron is by far his favorite and he also owns a BTC mining rig.
He considers the yachting company’s offer as a unique opportunity of attracting a new type of customers, the first-time owner. However, it’s now a first for Denison Yachting, as they have been offering crypto transactions ever since 2014, when they were initially approved by BitPay. And three Bitcoin investors already purchased boats using this system.