- FXAIR now accepts cryptocurrency payments, catering to a growing class of young Bitcoin millionaires seeking luxury travel
- Bitcoin’s price surge has driven an increase in demand for luxury travel services, with crypto entrepreneurs prioritizing flexibility and speed
- Luxury travel spending is projected to nearly double by 2028, with crypto playing a key role in the growth
FXAIR, a private jet company under the Flexjet umbrella, has begun accepting cryptocurrency from clients, reflecting the growing trend of luxury travel providers adapting to the demands of a new class of crypto millionaires.
As the recent Bitcoin rally has propelled a new wave of young, affluent travelers, private aviation and luxury cruise operators are increasingly embracing crypto payments. This shift is driven by Bitcoin entrepreneurs who are eager to spend their digital wealth on convenience, speed, and exclusivity, according to a recent Financial Times report.
Kenn Ricci, chair of FXAIR, highlighted the tremendous demand for crypto payment options, noting an uptick in bookings from young Bitcoin entrepreneurs who value time above all else. Time is the most precious luxury, which aligns with the desires of these new wealth holders.
Newsletter
Get weekly updates on the newest crypto stories, case studies and tips right in your mailbox.
For instance, FXAIR charges approximately $80,000 for a one-way flight from London’s Farnborough Airport to New York City.
The impact of Bitcoin on high-end travel demand
The surge in demand is closely linked to Bitcoin’s recent rise, which hit a new high of $124,000, fueled by political support in the U.S., including former President Donald Trump’s pro-crypto stance and regulatory appointments. This policy shift has boosted related stocks like Coinbase and Circle, adding a fresh pool of affluent spenders to the luxury travel market.
Luxury travel providers are quickly adapting to this emerging market. For example, Virgin Voyages now sells its $120,000 annual cruise pass in crypto, while SeaDream Yacht Club, known for its highly personalized service, began accepting Bitcoin payments shortly after Trump’s return to office.
As one source close to SeaDream noted, For these travelers, luxury isn’t about gold-trimmed service, it’s about flexibility. If they want to pay in crypto, we let them.
Luxury travel spend set to nearly double, with crypto driving growth
A McKinsey report projects that luxury travel spending by consumers aged 30 to 40 will rise from $28 billion in 2023 to $54 billion by 2028. A significant portion of this growth is expected to come from digital asset holders.
This new breed of traveler isn’t interested in traditional luxury. They don’t want to sip champagne and eat caviar. They want to be in three cities in one day and still make it home at night.
This shift is also seen in other luxury sectors, including high-end watch collecting. Sean Parsons, CEO of the luxury watch marketplace Kettle an increase in Bitcoin payments on the platform, though he noted that Ethereum (ETH) and Solana (SOL) transactions are more common due to their greater liquidity in the crypto community. BTC is still primarily treated as a store of value, which makes people less inclined to spend it on high-end goods. In contrast, more active traders on chains like SOL and ETH are comfortable spending their gains on luxury items.
