Many crypto critics opine that people don’t use cryptocurrencies for transactions, claiming that the asset is not usable. Many institutions are proving the narrative wrong, as many people pay them in the form of Bitcoin. Although other digital assets don’t hold much dominance in the payment sector, Bitcoin might be paving the way for the others as investors are showing interest in other cryptos.
The claim that Bitcoin is not usable discouraged many from investing, but that is no longer the case. Some days ago, a Portuguese energy company shared that it would facilitate crypto payment for customers to pay bills in Bitcoin. Tesla also assured that customers would be able to buy its product in the digital asset soon.
PrivateFly receives 20% of yearly revenue in crypto
Some information from mainstream companies shows that the world was gradually accepting Bitcoin, primarily since it continuously performs well compared to other asset classes. Bitcoin assures large profit margins within a short period, showing that the asset is here to stay as both retail and institutional investors make essential choices concerning the crypto.
A private jet company shared that 20% of its yearly revenue came in Bitcoin, showing that people are using the digital asset for various means and that firms are accepting the asset as a payment method. Years ago, things might have been different when experts claim that Bitcoin is a bubble, but now, even critics are changing their stance and making investment choices.
Interestingly, Switzerland supports canton tax payment in Bitcoin, showing that even governments are interested in digital assets. The information doesn’t come as a shock since the UK-based jet company reportedly has a significant part of its revenues in crypto.
The firm is called PrivateFly, and creators found the institution in 2005, and it currently holds membership of various aviation communities. Like many other businesses out there, the firm suffered greatly from the COVID-19 incident, but that didn’t stop it from recording an increase in digital asset payments.
Simple flying shares information on the jet company
A company that shares information concerning the aviation community, Simpleflying, shared the new information and explained that the company received Bitcoin payments from passengers who preferred that payment method.
The asset’s volatility is often a concern against its use as a payment method, making people use it mainly for investment purposes. It seems the narrative is changing as institutions accept the high-volatile asset to be part of the current cryptocurrency trend.
The statistics concerning the incident started around last year. This January, the company received 13% of payments in crypto, while in December 2020, the company had lesser payment in crypto as it was around 12% around that time. Sources claim that the company has seen an increase in Bitcoin payments as the company had months where it saw lesser than 2% for crypto payments.
The information shows that people are getting interested in cryptos, as many assets continue to record astonishing gains, it’s no surprise that many people want to secure profits. These profits would help people gain some trust in the industry as it grows in popularity.