Caracas Air, Venezuela's leading aviation academy, has started accepting Bitcoin, according to a Twitter announcement made by CEO Oliver Laufer.
Those who opt for the new payment method will also get discounts.
Laufer, a Miami Dade College graduate, started the company with his brother in 2015. 12 years ago, they sold everything they had to buy a Cessna 172 Skyhawk plane and start a flight school.
Presently, Caracas Air has around 900 students, becoming one of the fastest-growing aviation academies in Latin America.
Venezuelans turn to crypto to beat hyperinflation
Plagued by hyperinflation, Venezuela has been at the forefront of Bitcoin adoption since the cryptocurrency’s early days.
According to data provided by blockchain sleuth Chainalysis, it is one of the leading countries in the world in terms of peer-to-peer trading (behind only the U.S. and Russia).
Apart from Bitcoin, other cryptocurrencies like Dash are also thriving in the dysfunctional socialist country.