Private aviation and luxury cruise companies are increasingly accepting crypto payments as a new wave of Bitcoin assets drives the demand for ultra-luxury trips. This shift reflects the growing influence of young crypto entrepreneurs who want to spend their digital wealth on convenience, speed, and exclusivity.
Young Crypto Entrepreneurs Drive Demand for Luxury Travel
FXair, a private company under the umbrella of Flexjet, has started to accept crypto from customers after the chairman, Kenn Ricci, noted an “enormous” demand. Many of these customers are young, freshly rich from the latest Bitcoin rally, and are interested in traveling further and faster. FXair charges around $80,000 for a one-way flight from Farnborough Airport in London to New York City.
Ricci noticed a noticeable increase in bookings by “young entrepreneurs in the Bitcoin space” and added that they appreciate flexibility and speed the most. “And time is the most precious luxury,” he said. Bitcoin recently achieved a new high of $124,000, lifted by renewed political support in the United States, including the pro-crypto posture and regulatory appointments by former President Donald Trump.
Luxury Travel Players Quickly Adapt to Crypto Payments
Luxury travel players are quickly adapting to the trend. Virgin Voyages is now selling its annual pass of $120,000 in crypto. The Seadream Yacht Club, known for its ultra-personalized experience and almost 1-1 crew-to-guest ratio, began to accept Bitcoin payments shortly after Trump’s return. “For these travelers, luxury is not about gold-plated service; it’s about flexibility,” said a source near the yacht operator. “If you want to pay in crypto, we let you.”
The trend extends beyond sea and air. Boutique hotel chains such as the Kessler Collection and the Pavilion Hotels and Resorts accept cryptocurrencies, including Dogecoin, Ethereum, and Litecoin. According to McKinsey, travelers aged 30 to 40 in 2023 spent $28 billion on luxury trips, a number expected to almost double by 2028. Many of these consumers come from the digital asset area.
Luxury Travel Spend Set to Nearly Double
Nick Fazioli of Jefferies pointed out that this new class of travelers is not interested in old-school luxury. “You don’t want to drink champagne and eat caviar,” he said. “You want to be in three cities in one day and still make it home at night.” This trend also extends to high-end watch collecting. Sean Parsons, CEO and co-founder of Luxury Watch Marketplace Kettle, told Cryptonews at the beginning of this year that there was a modest increase in Bitcoin payments on the entire platform.
Parsons added that many of Kettle’s crypto-based transactions also come from ecosystems such as Solana or Ethereum. “From the point of view of our users, BTC is still mainly treated as a store of value, which means that people are less inclined to spend them on high-end goods,” said Parsons. “In contrast, active traders spend their profits on luxury items on chains such as Sol and ETH.”
For more information on how private jet and luxury cruise companies are embracing crypto, visit https://cryptonews.com/news/private-jet-and-luxury-cruise-firms-embrace-crypto-as-bitcoin-wealth-fuels-demand/
