Privatefly’s Crypto Revenue Collection Soared upto 20%, Bitcoin Was Major Contributor

No doubt that since 2020, digital currency owners have made huge piles of money. However, they have found a new hobby of spending their wealth as many of them have been found using private flights for traveling and most importantly paying the carrier company in crypto.Privatefly – a company involved in providing private traveling tours to individuals – says that it generated 20% of the revenue through cryptocurrencies.

Financial records of Privatefly revealed that the company’s revenue generation on the basis of cryptocurrencies has increased significantly. It informed that some 3 years back, the company’s revenue generation through crypto averaged between 1 to 3%. However, since 2020 till date, the average has increased multiple times reaching an average level of 20%.

Privatefly told that when it checked the revenue in December 2020, the crypto revenues were aggregating at 12%. However, a sudden spike occurred and in January 2021 this figure soared to 13%. From January till date, the figure has again jumped from 13% to 20%, which is the all-time high ever recorded by Privatefly.

In particular, Privatefly informed that out of 20%, at least 13% of revenue has been collected in the form of Bitcoin.

The company apprised that it was in 2014 when the company first announced accepting Bitcoin as payment. From that day onward, the company took on board several other prominent cryptocurrencies as a source of payment which include also Ethereum, Litecoin, BCH etc.

Bitpay has been used by Privatefly for memberships as well as one-off flights. In addition, the private travel service provider company has launched a new program called “Bitcoin Jet Account” based on Bitcoin. This new account is equipped with the ability to allow the users to acquire fresh membership while holding their Bitcoins.

CEO of Privatefly, Adam Twidell, stated that they were one of the fewer companies back in 2014 which started to accept Bitcoin as payment. However, there wasn’t any significant increase in the revenue collection since then until now. He informed that the revenue collection on the basis of crypto has taken off in the past few months, particularly, since November 2020.

Twidell informed that out of 20% revenue collection at the behest of crypto, 13% revenue was generated from Bitcoin. The majority of payments settled in Bitcoins were received during the month of December. However, in the past years, the average of overall revenue collection through crypto was somewhere between 1 to 3%, told Twidell.

He also spoke about the new Bitcoin Jet Account and suggested that this is an extra-ordinary facility provided to the company’s customers. By availing of the facility, the customers will be maintaining their crypto accounts and store their crypto funds in them. Whatever increase would occur to the cryptocurrency, would belong to the customer exclusively, told Twidell.

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