How to buy a plane with BTC?

Bitcoin is now a payment option for potential buyers of the Gulfstream G650ER private jet after approval from aircraft sales company Aviatrade.

Aviatrade has launched a new cryptocurrency payment platform to attract bitcoin millionaires and other buyers looking to use cryptocurrencies to buy private jets.

The G650ER for sale is the flagship private jet manufactured by American private company Gulfstream. It has been in service for more than six years and is the largest aircraft in the company's lineup.

The beauty of this private jet is that it has a range of 7,500 nautical miles, making it easy to travel between continents for those who don't want to waste time refueling internationally.

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Aviatrade is capturing changes in financial decision-making that have led to a surge in adoption of cryptocurrencies, especially in developing countries with high inflation rates. More and more people, especially the wealthy, are turning to distributed banks for asset hedging and advanced buying options.

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In May 2020, the G650ER was named the best private jet for international travel, behind the Global 6000 and Boeing's VIP Dreamliner. So far, Amazon's Jeff Bezos and Lauren Powell, Lauren Powell Jobs and Tesla's Elon Musk ) 400 aircraft have been sold.

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Buying an airplane is as simple as signing paperwork and moving bitcoin between virtual wallets, but regulations surrounding crypto taxes are bound to present some challenges.

The plane is scheduled to fly 1,200 hours between Asia and New Zealand before returning to Gulfstream headquarters in Georgia for maintenance and routine inspections.

Buyers will benefit from low transaction fees for international money transfers, no bank fees and simplified payment options if they use Bitcoin to purchase the jet.

Such transactions involving bitcoin purchases outside of the cryptocurrency market are sure to draw attention and oversight from financial institutions. The Internal Revenue Service began sending letters to cryptocurrency holders in 2019 informing them of the tax compliance of digital assets.

To avoid tax evasion, regulated exchanges like Coinbase are required to report the crypto activity of users who meet certain criteria, but crypto holders are generally required to report their crypto income or tax activity.

This applies to countries that have a cryptocurrency regulatory framework for bitcoin payments, but in countries such as Russia and Asia where cryptocurrency payments are banned, these purchasers may be breaking the law.

Since bitcoin’s price hit the $10,000 support level, its market capitalization has fallen sharply from an average of $220 billion to $195 billion.

If the asking price is $40 million and the funds are already in Bitcoin, the plane would represent 0.02% of the BTC market value. While some believe this will affect BTC price volatility, others firmly believe that it is not enough to completely change the price of Bitcoin caused by fundamental fluctuations.

Also, it depends on whether the company decides to liquidate its Bitcoins after receiving the funds.

Regarding short-term market trends, we believe the Bitcoin narrative is less important than others think. Others drive market changes, so we should know what they are using. The correlation parameter is useful for this.

For long-term market trends, correlations are more important to portfolio diversification than any other factor. I hope that in the near future, the market will not be so chaotic, and even the short-term covariance and other relationships may be more stable and easier to use for planning purposes. At that point, Bitcoin's correlation may be less important to the story and more important to how the asset is distributed.

At that point, we hope to no longer place Bitcoin in a pre-set cognitive framework. It will find its own way.

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