There are Some Things (Crypto) Money Can Now Buy
In recent years, the cryptocurrency market has experienced exponential growth in terms of users. Since 2017, when the popularity of Bitcoin and other altcoins started to take off, the number of people investing, trading or simply interested in cryptocurrencies has increased considerably. According to various estimates, the number of cryptocurrency users has grown from a few million to more than 300 million today, driven by growing institutional acceptance, the advancement of blockchain technology and increased financial literacy around this new digital asset.
This boom has transformed the perception of cryptocurrencies, taking them from being seen as a curiosity to becoming an integral part of the global financial landscape.
And as the market grows, evolves and gains traction, more and more products can be purchased with digital currencies. Especially when it comes to luxury: a segment that is becoming increasingly permeable to payment with cryptocurrencies such as Ethereum (find out here how to mine Ethereum).
This progressive trend reflects not only the evolving payment landscape but also the increasing acceptance of cryptocurrencies among high-end brands, so, let’s now see what we can buy if our cold wallets are in good health!
Timeless Elegance: Watches and Jewelry
Renowned brands like Audemars Piguet, Tag Heuer or Patek Philippe have embraced cryptocurrency payments. Top luxury watches retailers such as Chrono24 have made it possible for buyers to purchase high-end timepieces using Bitcoin and other major cryptocurrencies. In the realm of jewelry, Reeds Jewelry offers a selection of exquisite pieces that can be bought with digital currencies, making it easier for crypto enthusiasts to invest in timeless elegance.
Crypto coolness: Fashion
High fashion labels are also joining the cryptocurrency revolution. Gucci and Balenciaga are at the forefront of this trend, having accepted crypto payments in select stores. The luxury fashion marketplace Farfetch has also integrated crypto into its payment options, allowing customers to shop collections from top designers using Bitcoin and Ethereum. Looking cool is not anymore just a matter of cash.
Moving Forward: Automobiles
For those looking to elevate their mode of transport, luxury automobile manufacturers like Lamborghini and Tesla have ventured into the crypto space. Lamborghini dealerships in places like Miami and Newport Beach have started accepting Bitcoin for their high-performance vehicles. Meanwhile, Tesla’s innovative approach has not only captured headlines but also created a buzz around crypto transactions in the automotive sector.
Within the market for the sale of cars and other vehicles paid for with digital currencies, Bitcars stands out: this is the world’s first cryptocurrency car boutique established since 2016. A business model that, today, looks like a winner.
Sailing with class: Boats
In 2021 we read the news that the 72.5-meter-long superyacht AZTECA, built by CRN, was for sale. But here’s the thing: the owner would only accept payments in Bitcoin, totaling more than US$ 70 million.
High-end shipping is a sector that has been quick to adapt to cryptocurrencies. This is the case of KaterBlue, a reference website for leisure and nautical work, which offers cryptocurrency transactions for the purchase of boats, boats, mega yachts, super yachts, motor yachts and sailing yachts. The same applies to other major operators in the sector such as Dubriani Yatchs or Greenline Yatchs.
Less and Less Boundaries: Travel and Accommodation
We’ve been seeing it for a few years now, ever since Instagram influencers like the British Jack Morris showed the world that you can travel the world with hardly any cash in your pocket, and only pay with cryptocurrencies.
And of course, there is an increasing number of luxury travel experiences that can be booked using digital currencies. Companies like Travala enable travelers to book high-end accommodations, from five-star hotels to private villas, using Bitcoin and other digital currencies. Additionally, exclusive travel concierge services like Luxury Concierge allow clients to pay for bespoke travel experiences with cryptocurrencies, combining luxury with the appeal of modern financial transactions.
The Sky’s the Limit: Air Travel
Not everyone loves to travel with commercial airliners and those who can afford it opt for charter flights. These can also be contracted with cryptocurrency, thanks to operators such as Global Charter, LunaJets or Air Dynamic.
But if instead of hiring a charter flight you want to buy the plane directly, and pay for it with digital currencies, it is possible to do so by talking to companies such as Aviatrade, which in 2020 offered for sale a Gulfstream G650ER, similar to the models owned by Elon Musk and Jeff Bezos, for only 3,859 BTC.
High End Homes: Real Estate and Homeware
The real estate market is increasingly open to cryptocurrency transactions, with luxury property developers such as The Agency and Propy advocating for digital currency sales. High-end properties, including multi-million-dollar mansions and penthouses, are being listed for purchase in Bitcoin, making it possible for crypto investors to diversify their portfolios into tangible assets.