China Opera announced that it will start accepting Bitcoin as payment for operating its Château du Târillon in the Alps.
Operations rolling thunder is a special operation, meaning that the opera house is equipped with a series of chandeliers, including a one-off one that has a total of 24 lights, which can be operated by two people at the same time.
Operators working with the operation can operate up to four chandelies simultaneously, and they can also use a central account to process payments for each operation.
Operator Li Zhimin, the director general of China Opera, said in a statement on Wednesday that the use of Bitcoin was beneficial for the operation.
“Our operations rolling thunder are the first in the world to start accepting Bitcoins for operation,” Li said.
Opera houses around the world have begun using Bitcoin, including the Grand Opera in New York City, the Opera New York in New Jersey, and the Grand Theatre in New Orleans.
Operas around the globe are taking Bitcoin as a payment method because it offers convenience and a lower fee than traditional currency.
“Bitcoin can be used to pay for everything in a hotel, to rent a car, or to pay a loan,” said Michael Mascaro, the founder of Coin Center, a Bitcoin and cryptocurrency research company.
“People are using it as a way to pay their bills.”
Operahouses around the planet have started using Bitcoin because it allows for a fast and efficient payment method, but its adoption has been slower than other payment methods like credit cards and cash.
According to Coin Center’s figures, Bitcoin transactions account for less than 0.4% of all transaction volume, and it’s estimated that about 3.4 million people worldwide use Bitcoin to pay with cash every day.
Bitcoin is a digital currency, created in 2009, that uses cryptography to make it harder to counterfeit.
Bitcoins are used for transactions worldwide and are typically valued at $5 to $15.
The Chinese Opera’s use of the currency for operation will be a first for opera houses in Europe, where the most popular theater in the region, the Royal Opera House in London, operates.
The opera house has received more than $8 million in donations in its history.
