Cash is no longer king for some buyers who are looking to make use of cryptocurrency for multi-million dollar purchases, says JETT, a platform being introduced in Miami, Florida ahead of the Bitcoin 2021 Conference hosted in the city.

“JETT is leading the way in connecting holders of cryptocurrencies to private air travel and aircraft ownership, while incorporating the full tax benefits of the purchase and leasing of assets,” says Sam Skinner, managing partner of JETT.

“Technology is constantly evolving and so is consumer demand for speed and efficient service. By connecting crypto holders with aviation assets, our exclusive platform provides attractive opportunities and allows us to deliver a boutique service to our clients."

With aircraft owners willingness to accept Bitcoin, Ethereum and many other leading altcoins, JETT presents a platform that allows the diversification of an individual's wallet while also providing longer term tax benefits, leasing options for new owners and unprecedented access to charter flights without the need to transition into fiat currencies.

The use of cryptocurrency in the US has soared, while in developing countries with unreliable currency, the wealthy are turning to virtual wallets when making high-level purchases.

By taking advantage of the US 2017 Tax Cuts & Jobs Act (TCJA), JETT's new aircraft deduction platform for the mega-wealthy of the crypto world, accounts for much, if not all, of their millions in tax liability, meaning buying a new private jet could practically wipe out their tax bill in the year they buy it.

Overall, the bonus depreciation provisions of the TCJA are favourable to high net worth individuals and the equipment leasing and finance industry. The time to take advantage of these provisions however, is now, JETT concludes.