Business

Virgin to take online-currency for space bookings

12:45 pm on 25 November 2013

The online currency bitcoins can be used to book a trip to space.

Richard Branson has announced that Virgin Galactic is accepting the digital currency as payment for its flights.

He's been building the world's first commercial space line for nearly 10 years.

The company unveiled its first passenger spaceship in 2009 and commercial space travel is set to begin next year.

A seat on the maiden voyage will cost a $US250,000 million or 350 bitcoins ($NZ305,000).

Bitcoin is a new form of online money that's not backed by central banks. It's a volatile currency and has been on a particularly wild ride lately.

The US Congress is debating bitcoins at the moment, but Mr Branson says that believes bitcoins are here to stay.