SuperBowl LII is the first event M2Jets is accepting the cryptocurrency for, though the company chartered over 500 flights at last year’s SuperBowl event. The question is will this increase business for the company, and will other private, luxury transportation follow Malamud’s lead?
So Moshe, how big a customer base does M2Jets currently have?
The M2Jets clientele is made up of over 300 high net worth individuals, including hedge fund and family office managers, celebrities, artists and, musicians.
Why implement bitcoin acceptance now – is it due to potential new clients coming from “new bitcoin money”?
The majority of our clients execute payment primarily by wire transfer. In recent months, we have received requests for payment via bitcoin. After careful consideration, we have decided to add this as a form of payment specifically for international clients, as a means to execute payments after banking hours.
After the Super Bowl, what is the likelihood that this will be a continuing transaction? Will you be expanding outside of the Superbowl or is it simply a trial run?
We will be accepting bitcoin as a form of payment even after the Super Bowl. Its 24-hour seamless transaction platform offers convenience to our international clients to provide payment 24/7.
How do you plan to deal with the possibility of a decline in bitcoin value, and therefore a loss of money – are you up pricing to cover yourself?
Currently, we are closely watching the fluctuation of the currency and our pricing will be based on real-time pricing. We have the option of immediately converting it into USD or to allow it to sit and accumulate, which takes a lot of uncertainty out of withdrawal risk.
Do you think this will be the future of luxury air travel?
I can’t predict if this will become the future of luxury travel. We view it as an instrument to seamlessly make transactions on an international platform without the concern of transfers, delays, or banking hours.
What role does Bret Lockett (a former New England Patriot NFL player) play with M2Jets?
Bret Lockett serves as an active partner and a member of the executive M2Jets team. He is also responsible for the West Coast corporate operations.
How much interest have you received? How many people do you estimate will choose to fly by Bitcoin?
Currently accepting bitcoin is in the testing phase for us. While we have only done a handful of bitcoin transactions to date, we have received numerous requests and do see it as a regular form of payment for our clientele.
Are you planning on accepting other currencies or solely bitcoin?
At this point, the only two cryptocurrencies that we are excepting are bitcoin and light coin.