Bitcoin has been facilitating some pretty hefty transactions recently. Businesses that sell expensive items are beginning to accept bitcoin to increase their profit margin. Here are a few places where you can spend some large chunks of coin.
One of the common critiques of bitcoin is that it's not an actual currency but rather an investment tool. Many claim bitcoin is not being used to purchase goods, but instead being traded by investors who exchange the bitcoin back for fiat currency.
While bitcoin is certainly being used as an investment, we are seeing many more day-to-day purchases taking place with bitcoin as more businesses begin to accept it. While small purchases are gaining popularity, it is large-scale purchases that are happening more commonly in the bitcoin marketplace. Here are a few notable big-ticket items that can be purchased with your bitcoin.
Gold and Silver
Euro Pacific Precious Metals recently started accepting bitcoin through BitPay. The company is led by famed investor Peter Schiff and is the largest precious metals company to accept bitcoin. The company completes large transactions on a regular basis and chose to accept bitcoin to maximize profit while keeping their premiums low. If you are looking to diversify your investments, you can now use bitcoin to purchase quality gold and silver.
If you want a fast ride, you can now buy a new Lambo at Lamborghini Newport Beach. The dealership teamed up with us last December and had their first purchase within the same month. The luxury sports car dealership decided to accept bitcoin to cut their transaction costs. The dealership sells cars that start around $200,000, so cutting costs by 2% can save thousands.
Bitcoin is being used to buy real estate, most recently a $500,000 home in Kansas. Tim Hoelting Homes accepted over 1,000 bitcoin through BitPay for a custom-built home. The company decided to accept bitcoin in order to avoid bank transfer fees. By using our platform, Tim Hoelting Homes was able to save thousands of dollars and complete the transaction with a only a 1% transaction fee.
Tickets To Space
Earlier this year Cameron and Tyler Winklevoss purchased two tickets to space with bitcoin! Richard Branson's space tourism company Virgin Galactic began accepting bitcoin for tickets back in November and have't looked back since. At $250,000 per ticket you too can hitch a ride on Branson's spaceship to suborbital space.