Buying Yachts with Bitcoins?

When you’re in a business as highly competitive as selling top-tier yachts, it’s important to be creative. Perhaps that’s why Fort Lauderdale, Florida-based Denison Yacht Sales announced recently that they will now accept the controversial cyber currency bitcoin for the purchase of both new and used yachts.

Got a boatload of bitcoins that you don’t know what to do with? Why not use them to buy yourself a brand new 147-ft Project Amerigo ketch? She’s listed for a cool $31 million — or roughly 89,000 bitcoin.

© 2014 Denison Yacht Charters

"With the sale of just one medium-sized yacht using this currency, we would be poised to make the largest bitcoin transaction in history," said company president Bob Denison. According to a company press release, "Payments will be processed through BitPay, the world’s largest bitcoin-payment service provider. BitPay provides payment processing services for more than 50,000 businesses and processes more than $1 million (USD) daily."

Of course, that’s a mere pittance on a national scale, but there’s no denying that the use of bitcoins is steadily gaining greater legitimacy — especially since the virtual currency initially drew widespread criticism as an easy means of money laundering and other black-market activities.

Ironically, though, you may have noticed that it’s getting harder and harder to make substantial purchases with a pile of cold, hard, cash. Go figure.

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