There are a growing number of things that Bitcoin owners are able to use their digital coins to purchase. One of the most recent products that both Bitcoin and Bitcoin Cash holders can now spend their digital assets on are luxury cars. Some of the cars available are right at the highest end, and include the likes of the Bentley, Bugatti and even a Rolls-Royce dealers accepts payment in BTC and BCH payments.
The company in question is the Post Oak Motor Cars company, which is based in Texas. In order to achieve this, they announced that on September 5th they would be partnering with BitPay, however only selected cryptocurrencies would be available to be used.
The chief commercial officer of BitPay said that they have noticed that people prefer to make larger purchases using cryptocurrencies such as Bitcoin. Post Oak Motors has a good reputation for selling some of the finest cars and providing great customer service, so BitPay were very happy to build the partnership.
The company owner, Tilman Fertitta, claimed that the reason for this recent update is simply that he wanted to provide his customers with the very best buying experience. With so many people now investing in and buying things with cryptocurrencies, this seemed like the next logical step. It also means that people all over the world will now be able to buy luxury vehicles much faster.
This move signals a growing trend promoting the use of cryptocurrencies to pay for high end vehicles, as well as other luxury items.
Peter Saddington, a Bitcoin millionaire, sparked the trend of purchasing luxury cars using Bitcoin when he purchased a $200,000 2015 Lamborghini Huracan using 45 BTC. Seeing as he invested in Bitcoin in the early stages, in reality the purchase only cost him $115.
The quick transaction times, very low fees and efficient store of value means that it is great way to buy an expensive car.