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Now You Can Purchase a Luxury Car with Bitcoin

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luxury cars bitcoin

Bitcoin gained a powerful new ally today. Tilman Fertitta, owner of the Houston Rockets announced that from now on, his luxury car dealership Post Oak Motor Cars will only take Bitcoin from car buyers.

As a matter of fact,  Post Oak Motor Cars will be the first automobile company to accept bitcoin as means of payment.

“The rising of bitcoin sparked my interest. Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this partnership will allow anyone around the world to purchase our vehicles faster and easier,” he says, as quoted by Zycrypto.

Fertitta Believes the BTC Will Improve Customer Experience in Car Purchasing

This is a gamble for a man who made at least a part of his vast fortune selling expensive cars.

Yet Fertitta is such a huge supporter of BTC that he is not at all worried. In fact he believes that using Bitcoin in the car buying process will significantly boost the positive sales process. Fertitta feels that it will increase the speed and convenience of check out time. His argument rests on the fact that BTC is far more convenient when dealing with huge amounts of money.

His primary customers are celebrities with limitless amounts of cash to spend. These vehicles can easily run hundreds of thousands of dollars apiece. According to Truecar.com, the suggested retail price for the classic silver Ghost Rolls model runs over $314,000 for one car.

Fertita also promised that all of his businesses across different sectors will only accept bitcoin

Fertita notes Bitcoin won’t fail, as predicted. Instead, it will endure and become a big success like the Internet is today.

He also notes it would help if the U.S. United States government offered insurance on the asset.  In fact, he believes this could make cryptocurrencies much more  acceptable.  “Go to the bank and try to withdraw a million dollars, they don’t have the money. It’s just paper. That’s all bitcoin is, is paper, but it’s not insured by the FDIC today. And until it’s insured, a lot of people are never going to buy it,” he says.

 

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