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Private jet flights, yacht cruises and boutique hotels are now taking crypto. But does it make sense for bitcoin’s new wealthy to actually spend their coins?
By Siamak Masnavi, AI Boost|Edited by Aoyon Ashraf
Updated Aug 31, 2025, 8:12 p.m. Published Aug 31, 2025, 7:53 p.m.

- Rich bitcoiners are reportedly spending their BTC on luxury holidays.
- Bitcoin’s infamous “pizza story” highlights the risk of spending BTC too early, but some wealthy holders may see today’s high prices as a chance to lock in value.
- Using BTC for purchases triggers capital-gains tax in places like the U.S. and U.K., complicating the appeal of using crypto to pay for goods and services.
Bitcoin’s latest rally is spilling over into the luxury holiday market.
The Financial Times (FT) reported earlier today that private jet firms, cruise lines and boutique hotels are increasingly accepting crypto payments.
STORY CONTINUES BELOW
Flexjet-owned FXAIR, for instance, now takes tokens for transatlantic trips costing about $80,000, while cruise operator Virgin Voyages sells annual passes worth $120,000.
SeaDream Yacht Club and boutique hotel groups including The Kessler Collection have also added crypto checkout options, according to the FT.
High-end travel is a natural niche for crypto spending. On six-figure invoices, fees and volatility matter less, and merchants can instantly convert payments into fiat.
For customers, paying in bitcoin carries status value, echoing earlier bull-market splurges on Lamborghinis and watches. This time, the indulgence is time-saving private jets and one-of-a-kind cruises.
Still, whether it makes financial sense is another matter. Bitcoin’s most famous cautionary tale comes from 2010, when Florida programmer Laszlo Hanyecz spent 10,000 BTC on two pizzas, a purchase now worth over $1 billion in hindsight. Today’s jet bookings could invite the same regret if bitcoin keeps climbing.
Yet others see logic in cashing in.
With bitcoin recently hitting a record $124,128 on Aug. 14, some wealthy holders may view the present rally as a window to lock in gains before macro shocks send prices lower.
Inflationary pressures tied to the new U.S. import tariffs, along with wider economic uncertainty, could easily knock BTC back below $100,000, turning today’s holiday splurges into a rational hedge.
There are also tax complications.
The U.S. Internal Revenue Service (IRS), for instance, treats crypto as property, meaning that spending BTC counts as a taxable disposal and can trigger capital-gains liabilities. The U.K.’s HMRC applies the same principle, taxing disposals when coins are sold, swapped or spent.
The bigger backdrop, according to McKinsey data cited by the FT, is that younger affluent travelers are driving a luxury travel boom projected to nearly double spending between 2023 and 2028. For that generation, crypto is not just an investment vehicle but also a way to pay for experiences that promise freedom and exclusivity.
Bottom line: Crypto hasn’t taken over coffee shops, but at the top end of the market it is showing up. Whether that’s smart wealth management or another billion-dollar pizza mistake depends on how long this bull cycle lasts.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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By Omkar Godbole|Edited by Aoyon Ashraf
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Top bankers and economists expect the BOJ to hike rates in the fourth quarter, boosting the appeal of yen and yen-backed assets.
What to know:
- Japan is set to launch a blockchain-based version of the yen, with the Financial Services Agency likely to approve the first yen-denominated stablecoin this fall.
- The Bank of Japan is expected to raise interest rates soon, which could increase the appeal of yen-backed assets and stablecoins.
- Rising Japanese government bond yields and a strengthening yen are impacting the BTC/JPY exchange rate, which has dropped 8% this month.