The year 2017 has been seeing a lot of developments in terms of more retailers gaining trust in the bitcoin and accepting this cryptocurrency as payment. One such retailer is the Lamborghini car dealer in Newport Beach, which happens to be the luxury brand’s only factory authorized dealer for Orange County and its largest dealership in the United States. The said dealer has recently posted an image on Instagram stating that it is proud to accept bitcoin payments.
Throwback to the First Bitcoin Purchase in 2013
A look back in December 2013 would take you to the first time that a car purchase using bitcoins was made from the same car dealership in the OC. They sold a brand new Lamborghini Gallardo for $209,000, or 216.8 bitcoins. Just five years since its invention by a person or group under the alias, Satoshi Nakamoto, not a lot of businesses have embraced this digital currency which is neither controlled by a central bank or the government.
Back then when the common methods of payment aside from cash was through credit cards, accepting virtual payments using bitcoins was a bit surreal. For Nick Jones, a general sales manager who facilitated the transaction, “It was a little odd. For me, it was very odd. I didn’t know much about bitcoin, but I never want to turn away business or tell a customer ‘no’ until I’m sure that I can’t do what the customer is asking me for.”
Bitcoin Payments Being Accepted in the OC Dealer
It is important to note that this mode of payment that is being accepted by the OC car dealer does not reflect on the entire Lamborghini brand. This is a significant development made by the Newport Beach dealer and is not to be confused or taken to be true for other dealers within the United States that are also selling Lamborghini luxury cars. In fact, for this OC car dealer, a pre-owned Tesla Model S worth $103,000 was also sold back in 2013 with 91.4 bitcoins as payment.
Ideal Currency for Luxury Purchases
Using bitcoins to purchase luxury items like a Lamborghini may be ideal for both merchants and buyers because of the hassle-free and quick transaction process that goes with it. In fact, according to the most recent slots.io news, even online casinos are embracing this digital currency because of the convenience and security this new payment option offers. Without its affiliation with any bank, the online payment process using this cryptocurrency can happen within a matter of hours at the most, bypassing the waiting time of at least three banking days. There is also no minimum or maximum amount you can send.
The recent announcement made by Lamborghini Newport Beach about proudly accepting bitcoin payments says a lot about them being an innovative business. And if a luxury car retailer can make such a bold move, it is not impossible for other car dealers to follow suit.