Keeping up with the ongoing trend of digital money or cryptocurrencies, a Rolls-Royce dealership, Post Oak Motors, in Houston, Texas is now accepting Bitcoin and Bitcoin cash in exchange for the vehicle. Although this one is not the auto dealer in the US to do this, it is reportedly the first Rolls-Royce dealer to accept the digital currency. Customers who wish to buy a brand new Rolls-Royce using bitcoin or bitcoin cash will have to use the use the cryptocurrency processor BitPay.
Talking to TheStreet, Tilman Fertitta, owner of Post Oak Motors said, "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."
Commenting on this change, Sonny Singh, Chief Commercial Officer of BitPay, said "We've noticed people prefer to make larger purchases with bitcoin since it is a simple way to make payments. This partnership is timely with the increasing popularity of ultra-luxury vehicles. Post Oak Motors has a great reputation of selling the finest cars and we are thrilled to be partnering with Tilman."
Currently, the value of one bitcoin in $6,472 ( ₹ 4.56 lakh) and about 55 bitcoins will get you a one of the entry-level model, the Rolls-Royce Dawn or Wraith, which are priced close to $350,000 ( ₹ 2.57 crore). However, the value of bitcoin constantly fluctuates, and right now, it's come a long way down from its peak value of $20,000, in December 2017.
As already mentioned, this is not the first time people are using bitcoins to buy cars. Early this year, a California dealership began accepting Bitcoin for Bugatti Chiron and Pagani Huayra purchases. In fact, there have been increasing reports about Bitcoin and other cryptocurrency millionaires buying Lamborghinis as the ultimate status symbol, using the digital money.