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AS THE PRICE of bitcoin hovers around the €670 mark, the number of things you can use it for grows. Now you can add cars to the list as the first one was recently purchased using the digital currency.
The Lamborghini Newport Beach dealership, based in California, announced that one of its cars, a Tesla Model S Performance, was purchased using bitcoin last week.
The electric car, which is only available in the US, cost €74,914 ($103,000), or 91.4 bitcoins during the time of purchase.
The marketing director for the dealership, Cedric Davy, told CNN that the man had contacted them asking if he could use bitcoin to buy the car. Once that happened, it was a matter of figuring out how to convert it and complete the sale.
While the value of bitcoin dropped after the sale was made, the payment processor Bitpay ensured that the price was locked for both the buyer and the dealership.
It’s the first time the dealership has accepted bitcoin and it’s now accepting it for future purchases.
The number of ways in which you can spend bitcoin continues to increase. One university in Cyprus is allowing students to pay for their tuition fees using bitcoin while Virgin Galactic customers can use the digital currency to pay for a commercial flight to space.
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The dealership is reported to have stated that it did not take bitcoins but told the buyer to exchange them for USD. The buyer’s bank later wired USD to the dealership’s bank account. There is only a tenuous connection between bitcoin and the purchase of a Tesla.
It’ll crash hard.
Oh yeah it’s been fluctuating all over the shop last year. Id not touch it at the moment will be like our housing boom
Billions created out of nothing. Sure, how could it go wrong?
I saw the fluctuation early last year or the year before and was gonna buy €1000 worth which at the time was €16 each but a friend talked me out of it ….. I feel like pipe bombing his car :-(
Letting friends influence you with negativity is never good, I’d say cut him loose, he’s probably the type that doubts everything and thinks everything is a scam
I feel your pain. I almost bought them at $2, but some silly voice in my head stopped me from buying, and now I cry every night to bed.
I remember when they where $18-19 , but hindsight is 20×20
Only good thing we will get out of it ia when the crash we will look like trading magnites for bot buying them haha
Will they take my Tulip Bulbs?
ahh .. Bitcoin; brings back fond memories of that classic Commodore 64 game Bubble Bobble ……. there will be tears yet.
You got the brand name wrong. It’s Tesla, not Telsa. T E S L A. :-)
Apologies, that’s now corrected.
Thanks Naoise.
Actually it’s Tesla Motors. Hello from Silicon Valley, where these cars are a dime a dozen … Menlo Park, CA
Get it right dude
Are Aldi or Lidl doing any end of year specials on the auld bitcoins? Buy one chainsaw, get….
…your coat
Say what you want about the US and I include myself, but you’ve got to give it to the Americans, they can make things happen and keep the ball rolling.
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