Some of the British Isles' most enthusiastic bitcoiners gathered on the Isle of Man as part of a ‘takeover' event last weekend.
During the trip, attendees paid their way in bitcoin at a hotel, campsite, and over 30 other local businesses which accept the cryptocurrency.
Bitcoin has a well-established presence on the Island, which is home to a range of bitcoin businesses, including Coincorner and Bittylicious.
The Isle of Man Government has been open and supportive of crypto businesses for many years and has welcomed start-ups and more established businesses into the ecosystem.
The Island boasts a wealth of supporting partners which understand businesses in the crypto, Fintech and Blockchain industries and help to support the growth of the businesses located here.
From within Government, Digital Isle of Man, an executive agency of the Department for Enterprise, was created to support the tech sector, developing and implementing a strategy to support sustainable economic growth and establishing the Isle of Man as a centre of international excellence for the digital economy. They have welcomed the announcement of the takeover event.
The Island's digital reputation has led organiser and long-time bitcoiner Mark Chapman to choose the Isle of Man as the location for the event.
He said: "I wanted the bitcoin takeover to take place on the Isle of Man because it's well ahead of the British mainland and virtually all of Europe when it comes to bitcoin.
"The advantageous tax environment and the Government's positive stance towards bitcoin businesses has encouraged a number to locate themselves there, and from there the Island has become a real hub for bitcoin.
"This event will be a brilliant opportunity to celebrate what bitcoin can do and encourage more people and businesses to use it. I want to reach out to people who may not understand bitcoin or may not even have heard of it."
Around 80 people attended, from seasoned bitcoin enthusiasts to cryptocurious novices. They heard from a number of speakers, including London Institute of Banking & Finance professor and self-proclaimed ‘anti-bitcoiner' John Hearn.
Visitors stayed either at the Ellan Vannin Hotel, the first hotel on the Isle of Man to accept payment in bitcoin, or the Manx Fun Farm, the first campsite on the Island to do so.
Lyle Wraxall, CEO of Digital Isle of Man, said: "We are delighted that the organisers of the bitcoin takeover have chosen the Isle of Man as the location for their event. The Island is perfectly suited for this thanks to its expanding bitcoin and wider crypto sector.
"As a result of the supportive and collaborative environment the Island and the Government provide for innovative bitcoin businesses, it's now possible to plan and pay for a visit to the Island using only bitcoin.
"As a leading jurisdiction in this space, we are excited to see bitcoin continue to flourish and grow on the Isle of Man."
