Bitcoin treasury
The cabin stacks sats. Cargo pays the bills.
The Business Plan applies a corporate Bitcoin treasury strategy to VVIP aviation: operations funded in fiat, cabin revenue settled in Bitcoin, and the reserve held rather than traded.
The Bitcoin logic
- 01The business creates cash flow.
- 02The token creates capital.
- 03The cabin accumulates Bitcoin.
- 04The treasury returns Bitcoin to investors.
Forward-looking. Bitcoin distributions are board-authorized, contingent on board resolution, and are not promised, scheduled or guaranteed. Bitcoin is volatile and the value of any treasury holding may fall as well as rise.
The Bitcoin flow
Fiat pays the operation. The cabin funds the reserve.
Cargo + Charter
Pays operating costs in fiat
Freight and charter contracts are planned to cover operating expenditure, reducing reliance on the Bitcoin treasury to fund airline operations.
VVIP Cabin
Ticket revenue settled in Bitcoin
Cabin seats are intended to be priced and settled in Bitcoin via the monthly sat lock, with ticket proceeds retained in Bitcoin rather than converted back into fiat.
Treasury
Bitcoin accumulation
A long-term corporate reserve held in cold storage, held rather than traded.
Investors
Potential BTC distributions
Board-authorized and contingent on board resolution. Not promised, scheduled or guaranteed.
Separate track
Token capital
Capital raised through the Security Token supports fleet expansion and the corporate treasury according to the capital plan.
Treasury discipline
A treasury asset, not a trade
Bitcoin is held as a long-term corporate treasury asset. It is not a speculative trading strategy: no lending, no derivatives, no rehypothecation and no active position management.
Treasury architecture
Layer 01
Operating business
Cargo and charter contracts are planned to generate fiat cash flow that covers operating expenditure, reducing reliance on the Bitcoin treasury to fund airline operations.
Layer 02
Tokenized capital
The Business Plan describes capital formation through institutional tranches, with a defined share of later tranche proceeds allocated to Bitcoin. No Bitcoin is purchased during Tranche A.
Layer 03
The cabin
All cabin ticket revenue is intended to be settled exclusively in Bitcoin via a monthly sat lock, converting each seat sold into a direct treasury contribution with ticket proceeds retained in Bitcoin rather than converted back into fiat.
Layer 04
The treasury
A long-term Bitcoin reserve held in cold storage, with board-authorized profit distributions in Bitcoin, contingent on board resolution and beginning no earlier than Year 3.
The monthly sat lock
A fixed monthly sat price. Volatility remains in the asset.
Under the mechanism described in the Business Plan, a Treasury Committee publishes an official sat rate on the 15th of each month, calculated from the BTC/USD spot price at 12:00 UTC and applied to published seat prices. Once published, the rate is fixed for the entire following month: no mid-month adjustments, no price feeds at checkout, no dynamic pricing. The sat price is the price.
Treasury rules
Long-term cold storage
The treasury is designed around long-term cold storage, with controlled operational access and no lending, derivatives or rehypothecation.
Reserve floor
A $40M floor below which no aircraft deployment is made.
Proof of reserve
Quarterly on-chain, auditable proof of reserve.
Independent oversight
A Class B appointed Treasury Audit Committee.
The treasury architecture described here is planned and not yet operational. No Bitcoin has been acquired, no custody arrangements are in force, and no distribution has been authorized. Any future distribution would be a board decision, contingent on board resolution and the applicable legal and governance framework. Nothing on this page is a promise, forecast or guarantee of returns, distributions or Bitcoin appreciation.