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Virgin Galactic accepting Bitcoins as payment for commercial spaceflight

At the time of writing, one Bitcoin is worth $738. As you should know by now, the cryptocurrency’s worth wildly fluctuates, but it seems its value is only growing. Richard Branson, founder of Virgin Group and spaceflight entrepreneur, sees Bitcoin’s value, and announced that Virgin Galactic will accept Bitcoin as payment for commercial spaceflight tickets.

Somehow, this isn’t the very first time Bitcoin has been accepted as a way to buy a ticket on a commercial spaceflight. A raffle for a trip to space was held back in February, and you could buy a ticket using Bitcoin as payment. Now, you can ensure your trip to space using your favorite cryptocurrency by purchasing a ticket on a Virgin Galactic flight.

A flight attendant in Hawaii paid for a ticket aboard a Virgin Galactic flight using Bitcoin, and became the first person to do so. Branson said the woman who purchased the ticket was an early investor in the currency, as was Branson himself.

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Like most Bitcoin services, the woman paid in the currency, but it was transferred over to dollars. This way, Branson notes, the airline can pay her back if she changes her mind. Yes, Virgin Galactic could just transfer Bitcoins back to her wallet, but the reason why the payment was transferred to dollars is likely because Virgin Galactic can’t actually turn around and use the Bitcoins to pay for much, as the currency isn’t exactly accepted in most places.

Branson also stated that he believes Bitcoin will eventually stop dramatically rising and falling, but will settle at a stable price higher than its current price — which, again, is over $730. The amount of Bitcoins allowed into the wild is capped, so it’ll be interested to see what happens to the virtual currency once you can no longer earn them.

Now read: ASRock’s Bitcoin mining motherboards support 6 graphics cards

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