Calvin Ayre, the Canadian-born bitcoin mogul, affectionately dubbed ‘his excellency’ by the government of Antigua and Barbuda is set to build a first of its kind bitcoin-funded resort in the Caribbean paradise. The resort which is estimated to cost about $100 million dollars is being funded by profits made by Ayre in cryptocurrency investments.
The resort is reportedly being situated in the luxurious Antigua Valley Church beach area. As an early adopter and investor in bitcoin, Ayre has been able to accrue a substantial payoff from the meteoric rise in the price of bitcoin over the years. The five-star beach resort will accept payments in bitcoin cash at POS terminals within the resort as well as on all online platforms for booking and reservation.
Speaking on the move, Calvin Ayre said that he is confident of the fact that the resort will contribute significantly to improving the tourism potential of the Caribbean Island. He went on further to say that he envisages people from various works of life who just want to unwind and have an enjoyable summer vacation. He said that the resort when completed has the potential to expand the Antiguan tourism market, simultaneously creating a whole new market segment for the Island’s tourism sector. The bitcoin-funded luxury resort will not be designed to be an all-inclusive resort as its amenities will be made available to Antiguan residents and visitors alike.
Crypto Resort to Boost Tourism
Reiterating Ayre’s comments, Prime Minister of Antigua and Barbuda, Gaston Brown said that he expects the resort to improve the tourism potential of the Caribbean Island. He expressed particular admiration and enthusiasm on account of the unique nature of the concept which he described as being “novel” and “exciting.” Prime Minister Brown said he expects the resort to broaden the tourism potential of the Island. He declared the willingness of his administration to collaborate with Calvin Ayre on the resort as well as other future Antiguan-based investment projects.
Calvin Ayre has had a long history with law enforcement in both his native Canada and the United States. His father, a pig-farmer was once convicted on marijuana smuggling charges. In the early 90s, he was prohibited from being or acting as a director of a public corporation in his native Canada. The incidents were due to a share-trading scandal surrounding Mr. Ayre that broke out in the early 90s. In the aftermath of the ban, he created Bodog, an online gaming company. Bodog would later go on to become one of the most popular gambling franchise in the world.