Florida’s Denison Yachting announced on Friday that digital currency owners can use their cryptocurrencies at the Miami International Boat Show to buy a luxury yacht. The company had previously made such transactions possible through BitPay, with customer crypto holding converted into fiat currency to make the purchase.
The crypto purchase option enables digital currency users to purchase high-end yachts from the Hatteras line as well as various sport boats, according to a report from CNBC. The company’s owner, Bob Denison, has said that customers can use cryptocurrency to purchase any of the company’s boats. He also detailed his reasons for providing customers with this option:
“It is our job as the dealer or broker to make purchases as easy as possible. So for us this is just another effort to come to where the client is. Sometimes my friends on the dock act like this is a marketing gimmick, but we've actually gotten results from it and I truly believe in it."
Would-be buyers can apparently obtain a new 91-foot Hatteras M90 Panacera yacht for $9.7 million worth of Bitcoin – or an equivalent amount of coins like Ethereum, Bitcoin Cash, or Tron.
Apparently, Denison is relatively unconcerned about market volatility, and the chance that the coins he accepts as payment today could be worth much less tomorrow. In fact, he seems to be anticipating less volatility in the future:
"Inherently there would be a little bit of a risk, but I truly believe in the future of cryptocurrency and I truly believe it will stabilize. The more [transactions like this] happen the less crazy it will sound."