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Some car dealers accepted bitcoins years before Tesla

Some car dealerships, from Kia to Lamborghini, adopted digital currencies for car sales years before Tesla announced plans to adopt bitcoins.

to the the report Reuters reports that Christopher Basha, a car dealer in Georgia, is far ahead of Tesla CEO Ilan Musk in accepting bitcoin as a currency to buy cars.

Basha said he became familiar with digital currencies through all his bitcoin mining rooms. He stated:

One had bought pizza with Bitcoin. Buying a car with bitcoin did not seem crazy either.

He started accepting bitcoin as a payment method in 2015, but none of the customers showed interest. Basha said:

I had almost forgotten him.

According to Basha, the price of Bitcoin increased in 2017 and a customer used digital currency to buy four Kia cars for a total price of more than $ 150,000. Bitcoin payments have risen as the digital currency has risen in price since late last year.

Tesla announced last month that it had bought $ 1.5 billion in bitcoin and would soon accept it as a method of payment for the car. But Basha is one of a small group of car dealers who long ago accepted bitcoin and other digital currencies from their customers.

Vendors said that accepting digital currencies is a good tool for marketing and branding, but it is still a marginal business. Fluctuations in prices and the lack of trusted banks and other financial intermediaries have made bitcoin payments risky for non-tech sellers.

Basha, who sells Kia cars, said he converts bitcoins into cash immediately upon receipt because he believes it is dangerous for such a small company to keep such volatile assets.

But converting Bitcoin to US dollars on a payment platform takes minutes, sometimes leading to a loss of $ 300 to $ 400 per transaction due to price changes.

Basha once forgot his password when he received a bitcoin from a customer when he wanted to transfer it from one account to another to convert it into dollars. He says:

I was really scared. There is no intermediary to come and save you.

Pietro Frigerio, a Lamborghini dealer in Irvine, California, said that when the price of bitcoin rose in 2017, his store sold 20 cars a month. But in recent price growth, he has not seen much increase in bitcoin payments.

Ferrigio, who also sells other luxury sports cars such as Bugatti and McLaren, added:

People are waiting for the exchange rate to rise.

He said customers who have bought cars with Bitcoin have one thing in common: they are young people who firmly believe in virtual currency.

Peter Saddington, founder of digital currency startup Emrit, bought a Lamborghini Huracan with Bitcoin in 2017, which he bought in 2011 for $ 115 to draw attention to his company and digital currencies. .

He told Reuters:

[اقدام تسلا] Definitely a public relations stunt. But Ilan is very leading in his thinking, so I think it makes sense for him to provide a future currency for his company.


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