Yacht Company Announces It Will Accept Cryptocurrency As Payment

A Florida-based yacht dealer announced Friday that it would begin accepting Bitcoin and other cryptocurrencies as payment for boats.

The announcement by Denison Yachting came at the Miami International Boat Show, an annual boating trade show. As cryptocurrencies spread in popularity, more and more items are available for purchase with the online currency.

“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,” the company’s president and founder Bob Denison told CNBC. "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.”

Denison Yachting said that it would take Bitcoin cash, Ethereum and Tron. The company first entered the world of cryptocurrency in 2014 when it was approved for BitPay. The service converts Bitcoins into hard currency. This will be the first time that the company will accept end-to-end payments of cryptocurrency.

“There is a misnomer about cryptocurrency, that the only reason people are moving in this direction is to be anonymous. Then you start having that conversation about the legal underworld part of it,” Denison told CNBC. “The more you get people transacting in bitcoin for things like cars and homes and boats, the more obvious it is that this thing is a lot more transparent.”

Several other retailers allow consumers to purchase goods with Bitcoins, including Expedia, Microsoft’s app store and Overstock. Other luxury goods providers are also getting into the market.

Virgin Galaxy accepts Bitcoin, for those flush with the cryptocurrency and interested in space travel. Consumers may have a while to wait, however, since the service has yet to launch its inaugural voyage.