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.