Bitcoin (BTC) sees another major adoption, this time by a Luxury Yacht firm

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on May 18, 2021
  • Prime Experiences Luxury Yacht firm is expanding its payment options to include Bitcoin.
  • The digital payment platform will be based on blockchain technology to offer more security for transactions.
  • More physical entities are gradually embracing Bitcoin as a payment option for their users.

The luxury yacht market is set to experience a revolution, as a top player in the industry is enabling digital transactions with Bitcoin (BTC/USD) for the first time.

The company, Prime Experiences, with more than 1,400 customers each year, is expecting a 40% growth with the introduction of the new payment method.

Platform to be based on blockchain technology 

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According to the announcement, the new payment platform will be based on blockchain technology to provide more security for transactions.

The firm also projected that it could see a $6.5 million revenue in 2022, basically from the bespoke experiences it hosts for clients as well as its yacht charter service.

Co-founded by two Colombians, Prime Experiences has its operational headquarters in North America. It also has plans to have future collaboration in Miami.

Prime Experiences wants to expand Bitcoin adoption in Miami

José David Tobón, the firm’s president, stated that the company is in serious discussion with Mayor Francis Suarez, who has always clamored for a crypto-friendly environment. 

Recently, he suggested that Miami’s residents should have the option of receiving their salaries in Bitcoin.

Miami has drawn increased interest from major companies such as Google, Facebook, and Tesla. V has also touted the region to be the next Silicon Valley due to the high level of interest from these companies. He stated,

Miami could be the next Silicon Valley as most of the large companies are looking to enter the city.

Bitcoin sees more adoption for payments 

The adoption of Bitcoin as a payment method has grown wider in recent years, as more services in different industries are now opting to accept cryptocurrencies. It was initially the currency of choice for many web-based services. But more physical entities are now accepting the cryptocurrency, including baseball teams, music schools, auction houses, and real estate firms.

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