Equinox Becomes First New York Gym to Accept Bitcoin Payments

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A top luxury gym in New York, Equinox Health Club will start accepting Bitcoin payment, a local report says. The gym is partnering with Bitcoin payment service provider Bitpay to facilitate the payments. This makes the luxury gym the first in the city of New York to accept Bitcoin payment for its services.

Equinox is a luxury gym with at least 40 health clubs in New York alone. It also has luxury gyms and clubs distributed worldwide and offers several membership plans. While not all plans can be paid for with crypto, the club will soon announce those with options for crypto payments so that members who wish to pay with crypto can go for them.

Luxury brands adopting crypto

A current trend in crypto is the ongoing adoption of digital currencies by luxury brands. Equinox may be the first gym to adopt crypto in New York but it certainly isn’t the first to accept crypto in recent times. Apart from leading electric vehicle manufacturer Tesla, other luxury car dealers have also accepted crypto.

Dutton garage in Australia is one of the latest luxury car dealers to open its doors to crypto fans who wish to pay for cars with crypto. It is no surprise that this is happening as cryptocurrencies have recorded a big boom in the last year, empowering investors to afford such cars. Equinox may also be trying to explore more ways of reaching new clients as New York is a very crypto-friendly city.

Adoption despite bearish trend

Bitcoin as well as other top cryptocurrencies have dropped significantly and have been moving sideways in the last several days. It seems the downward movement is far from over as some analysts believe Bitcoin may go as low as $36,000 before finding support for a bounce.

The bearish trend however doesn’t seem to discourage the adoption of digital currencies as is seen with Equinox. Bitcoin has over time shown that the price can go up after such downward trends, which may have increased confidence in the asset, hence the rush for it despite unfavorable market conditions.

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