The transaction by Greenline Yachts was finalized at boot Düsseldorf 2025 and represented a notable moment for both the shipyard and the use of cryptocurrency in high-value purchases.
A Cryptocurrency Transaction
While Greenline Yachts has accepted Bitcoin payments since 2018, this sale is the first to be completed using the digital currency. Greenline owner Vladimir Zinchenko described the process as smooth and straightforward.
“We have been allowing customers to pay in Bitcoin since 2018, but this is the first one to take us up on it,” said Zinchenko. “We have got close a couple of times, but never cleared the final hurdle. This time it was different, and the transaction proceeded very smoothly. We would welcome future payments in cryptocurrency.”
The buyer, introduced by Yacht Partners International in Greece, acted quickly to secure the Greenline 45 Coupe. Signing the contract at Düsseldorf allowed him to take advantage of a boat show promotion that secured an express build slot, ensuring delivery by June 2025—perfect timing for a Mediterranean summe
How the Bitcoin Payment Was Processed
Although the buyer's funds were in Bitcoin, the transaction was completed in Euros through BitPay, a U.S.-based company that facilitates cryptocurrency payments for businesses. BitPay’s European regulatory was also present.
By embracing crypto payments, Greenline is not just enhancing the buying experience for their customers but also embracing the future of finance.
Vice President of Marketing
BitPay
"At BitPay, we believe in the transformative power of cryptocurrency to revolutionize industries across the globe," said Merrick Theobald, Vice President of Marketing at BitPay. "This milestone transaction with Greenline Yachts is a perfect example of how Bitcoin is reshaping the luxury goods market. By embracing crypto payments, Greenline is not just enhancing the buying experience for their customers but also embracing the future of finance."
The buyer originally acquired Bitcoin when it was valued at just $0.03 per coin and has since seen its worth skyrocket past $100,000. With this three-million-fold increase, he decided to reinvest in luxury, purchasing the Greenline 45 Coupe as part of a lifestyle upgrade.
A Sustainable and Self-Sufficient Yacht: the Greenline 45 Coupe
The Greenline 45 Coupe was selected for its sustainable design and energy efficiency. Unlike its Flybridge counterpart, the Coupe model features a hardtop largely dedicated to solar panels, with a maximum power rating of 2,200W. This system can generate up to 13.2 kWh on a sunny day in Greece, where the yacht will be based, allowing it to remain at anchor for more than four days without using a generator. The result is a silent, emissions-free yachting experience.
Additionally, the buyer opted to replace the standard third cabin with a fully equipped office space, located on the starboard side between two luxurious double cabins. The solar panels will help power high-speed internet and IT equipment, allowing for extended stays away from port without compromising connectivity.
Cryptocurrency's Growing Role in Yacht Transactions
The use of cryptocurrency, particularly Bitcoin, in yacht transactions has been gaining momentum in recent years. Several yacht brokers and manufacturers have started accepting digital currencies as a form of payment.
Denison Yachting has also embraced Bitcoin as a payment option for yacht sales and charters, seen in their recent sale of a 41-meter superyacht Obsidian Blade. This yacht, set to be built at Aegean Yacht in Bodrum, Turkey, was purchased entirely using cryptocurrency. The Obsidian Blade features a naval-inspired design, accommodates up to 12 guests, and is scheduled for delivery in time for the 2027 Mediterranean season.
The company cited benefits such as enhanced privacy, security, and the ability to conduct transactions at any time, without the constraints of traditional banking hours.
Similarly, United Yacht Sales has partnered with ForumPay to facilitate yacht purchases using various cryptocurrencies, including Bitcoin, Ether, Litecoin, Bitcoin Cash, DASH, and XRP. This collaboration allows clients to pay directly from their preferred digital wallets, with transactions updated in real-time to reflect current exchange rates.
Purchasing yachts with cryptocurrency offers several advantages, including faster transactions, reduced fees, and the ability to buy from anywhere in the world without worrying about exchange rates. However, potential buyers should be aware of the volatile nature of cryptocurrencies and ensure they understand the tax implications and legal considerations in their respective jurisdictions.
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