A wise crypto owner does not go on a mindless shopping spree, as the windfall is typically spent on big-ticket assets like real estate or superyachts. “For every household that withdrew $5,000 from their crypto exchange account, one in 20 bought a house for the first time,” shared Jason Kotter, an assistant professor of finance at BYU.
Not a house, but Denison Yachting recently announced the sale of a 134-foot superyacht to be built at Aegean Yachts facilities in Bodrum, Turkey. Interestingly, the vessel, known as Project Obsidian Blade, was purchased using cryptocurrency. Despite the volatility in the crypto market, luxury yacht brokers remain open to clients buying or even chartering vessels with digital assets. In 2022, an anonymous millionaire purchased Benetti’s lavish 132-foot motor yacht Oryx for $12 million using Bitcoin. Not just that, until last year, a mere 10 Bitcoins could have chartered the famous $75 million Loon superyacht.
In the case of Project Obsidian Blade, the owner was drawn to its warship-like exterior. Aegean Yachts customized the platform to the owner’s preferences, featuring a high bow and minimal glazing. While the yacht’s design takes inspiration from naval vessels, the interiors, according to the broker, are a stark contrast, exuding a relaxed, beach-house-style aesthetic.
The yacht accommodates up to 12 guests, including a full-beam master suite on the main deck with an ensuite bathroom and walk-in wardrobe. A six-member crew will ensure a seamless experience, whether indoors or outdoors, where one will find an open aft deck designed to house two large tenders, a spacious sundeck with a central bar and dining table for ten, and multiple lounging areas.
It’s a modern yacht for a modern client who opted for a very modern payment method. Why wouldn’t Denison Yachting embrace cryptocurrency transactions? It reflects a growing trend in the yachting industry, and the forward-thinking broker is eager to stay ahead. Project Obsidian Blade is set for delivery in time for the 2027 Mediterranean season.
With Bitcoin maintaining its six-figure valuation, crypto-driven wealth is becoming more prominent, and it’s only a matter of time before more high-value assets are purchased using digital currency. Even the 277-year-old British auction house Sotheby’s now accepts cryptocurrency as payment.
