The cruise industry is increasingly accepting Bitcoin, as Virgin Voyages recently became the first company to accept cryptocurrency payments.
Virgin Voyages, the top cruise line, has announced that its users can now pay for their trips using Bitcoin (BTC), the largest cryptocurrency by market capitalization. This establishes the cruise line as the pioneer in its industry in implementing this payment option for its services.
Virgin Voyages Offers Passengers a Flexible Payment Option
Virgin Voyages has introduced an “Annual Pass” that allows passengers to “hop onto any ship, anytime, from anywhere—for an entire calendar year,” as reported by Travel Weekly. The cost of this annual pass, which excludes taxes and fees, is as high as £94,689, or approximately $120,000. It is accessible on a first-come, first-served basis until March 31, 2025.
Upon payment of this fare, a passenger has successfully reserved a spot on a sea terrace for an entire year. Travel agents can earn a commission of up to £7,890 ($10,000) for the annual pass sale. The objective of the Bitcoin payment option is to enhance passenger payment flexibility.
Furthermore, Virgin Voyages’ adoption of Bitcoin is a means of embracing the future of finance.
With the adoption of Bitcoin, the organization has implemented a proactive strategy. It has revised its website to incorporate the new Bitcoin payment option. The adoption of the Virgin Voyages BTC, initiated by Sir Richard Branson, has the potential to inspire other related businesses to adopt similar strategies.
Institutional Investors Demonstrate Confidence in Bitcoin
This year has been characterized by numerous firsts for BTC, including the approval of spot Bitcoin ETFs and the achievement of a new All-time-high (ATH).
The flagship cryptocurrency has experienced a substantial increase in institutional adoption. Bitcoin’s prominence as an investment asset has increased due to the presence of prominent investment asset management firms such as BlackRock, Bitwise, Fidelity, and Grayscale in the crypto ETF niche.
As previously mentioned, certain BlackRock funds invest in IBIT, which indicates an increasing institutional interest in the coin.
MicroStrategy, a software and business intelligence company, has consistently acquired Bitcoin. This emphasizes the coin’s future potential and confidence.
The Michael Saylor-led firm acquired 15,400 BTC for $1.5 billion earlier this week, with an average price of $95,976 per Bitcoin. To date, MicroStrategy has amassed a Bitcoin holding of 402,100 BTC, representing more than 1.2% of the cryptocurrency’s total supply.
In the interim, the price of Bitcoin has experienced fluctuations, including a brief crash. The coin was trading at $95,697.11 at this time, representing a 0.25% increase in the past 24 hours.