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Luxury health club Equinox accepts cryptocurrency payments in NYC

New Yorkers looking to get in shape for the summer will soon be able to pay for Equinox membership with cryptocurrency, The Post has learned.

The luxury health club will be the first gym in the Big Apple to allow members to pay their membership fee in digital currency, a source told The Post on Sunday.

The gym is expected to announce the decision to accept crypto payments on Monday.

Equinox wants to meet members “where they are both digital and physical” and is partnering with BitPay, a major bitcoin and crypto payment service, the source said.

The decision comes as gyms have all but recovered from their big pandemic slump. Equinox said its first-quarter sales were up 122% compared to the first quarter of 2019, and Crunch gyms told The Post that their first-quarter sales were up 60.9% compared to the same period.

Equinox, which costs more than $250 a month, is hardly the first luxury brand to start allowing customers to pay in cryptocurrency.

In March 2021, Tesla CEO Elon Musk said anyone in the US could pay for their electric vehicle in bitcoin, and he even began accepting Dogecoin for Tesla goods.

According to a source, Equinox is partnered with bitcoin and crypto payment service BitPay.
According to a source, Equinox is working with crypto payment service BitPay.
REUTERS/Dado Ruvic/File Photo

Last summer, the San Jose Sharks became the first NHL team to allow fans to use bitcoin to purchase season tickets and suite rentals.

Last February, Uber CEO Dara Khosrowshahi said that the ride-hailing app would “absolutely” accept cryptocurrencies as payment in the future.

Even Fidelity announced last week that it created a way for workers to forward some of their 401,000 posts to Bitcoin.

Equinox’s decision comes at a turbulent time for Bitcoin, which could soon plummet to $30,000 as investors shift cash from speculative assets to safer ones, market watchers told The Post in April.

https://nypost.com/2022/05/01/luxury-gym-equinox-to-start-accepting-cryptocurrency-payments-in-nyc/ Luxury health club Equinox accepts cryptocurrency payments in NYC

JACLYN DIAZ

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