Raphael Sauleau is the CEO of Fraser, a firm that specializes in luxury boats. He says young people are becoming bitcoin millionaires, and many of them are now in the habit of buying yachts.
Yachts Are the Objects of Desire for BTC Investors
Aside from being early bitcoin investors, a lot of them have high-paying jobs in hedge funds and startups. They all seem to share the same dream – to purchase yachts and sail the seven seas. They are using the bitcoin they’ve earned on the job to achieve this goal.
Sauleau explained in a recent interview:
We’ve seen a change in our average demographic. A couple years ago, the average age of clients was between 55 and 65 and now we’re down to 45 to 55. We sold yachts to as young as 25 years old last year and the year before. So, they’re coming from bitcoin, they’re coming from tech startups, but also hedge funds, and we’ve seen a lot of customers coming from these different environments and younger customers both on the sales side and on the charter side.
He says that the yacht business has grown tenfold in the past few years. Not only are young bitcoin hounds purchasing these items, but there are many traditional and repeat customers in the fray, and these boats have become the desire for all who wish to live lives of wealth and luxury. He mentioned:
The pandemic has affected a lot of people… Some of our existing customers said, ‘You know what? Maybe it’s time to have a bigger yacht or a larger yacht.’ Some of us said, ‘I’ve always been chartering, so why don’t I buy a yacht now?’ So, we’ve seen all this phenomenon, which obviously has been having a very positive impact on the yachting industry.
He says that one of the big reasons people keep buying yachts is because the COVID-19 pandemic prevented a lot of people from traveling, much less leaving their houses. Many people have been locked up for the past two years and are eager to get out, and now that many of the restrictions are ending around the world, people are going nuts and doing all they can to explore and expand their horizons.
Between 2020 and 2021, the sale of yachts grew by more than 175 percent with Sauleau’s company. Fraser explained in a press release:
2021 saw the highest demand for yachts and yachting that Fraser brokers have ever experienced.
The Business Has Really Grown
In addition, the business has witnessed a 60 percent jump in customers, and about 40 percent of them are completely new to boating. Saulau explains:
So, these numbers are really incredible and clearly show that yachting is attracting a lot of new people today. You are controlling your own environment. You are deciding where you are traveling to [and] with whom you are traveling with.
