Now that the Bitcoin price continues to rise, the discussion eventually turns back to what to do with cryptocurrency. A lot of people will hold onto their BTC in the hopes of making a profit over time, rather than spend it. But for the wealthier Bitcoin holders, a space flight with Virgin Galactic may become more appealing. Even though prices have not dropped, it now costs significantly less Bitcoin to get a ticket.
Bitcoin Can Take You To Space, Literally
When Sir Richard Branson announced his space flight travel venture, a lot of people very skeptical about this endeavors. Conquering space has been puzzling some of the world’s biggest organizations, including the NASA, for multiple decades right now. In fact, we haven’t sent people to the moon in 40 years, so how can we even think about commercializing space travel?
But leave it to powerful and charismatic individuals such as Sir Richard Branson to explain why space travel just may be the next big thing. Although his is only available to people with lots of financial assets at their disposal, Virgin Galactic is accepting Bitcoin payments for those willing to explore the next frontier. Do keep in mind the ticket price is still US$250,000, which remains well out of reach for most people.
What is rather intriguing is how Virgin Galactic accepts Bitcoin payments for space flight travel. In fact, they accept the first Bitcoin purchase for such a ticket in 2013. It remains unclear how many people opted for the Bitcoin payment option every since, but Virgin Galactic still accepts cryptocurrency payments right now.
Given the recent Bitcoin price surge, a lot of people have made good money from holding on to their investment. His trend has also caused the purchasing power of Bitcoin holders to increase by quite a margin. In a way, it has become somewhat cheaper to consider a trip with Virgin Galactic, even though the USD value of ticket prices has not dropped one cent.
Comparing the Bitcoin value needed for a Virgin Galactic trip between December 2014 and December 2016, one can easily spot the difference. Two years ago, one would need at last 666,67 Bitcoin to make the purchase, at a value of US$375 per BTC. Right now, Bitcoin is valued at US$900, which means you’d pay 277.78 Bitcoin. Albeit that is still a lot of money, it goes to show how Bitcoin’s value has evolved over the past two years.
Space travel may not be the outlet most Bitcoin holders are looking for, but it is a valuable example to explain how the value of his cryptocurrency evolved. A lot has changed over the past two years, and the Bitcoin price is benefiting from all of those changes. Whether or not his price surge will hold, is anybody’s guess for now. But things are looking quite jolly this Christmas.
Header image courtesy of Shutterstock
