Dealership in California Accepts Bitcoins for New Tesla Model S

Dec 06, 2013 09:48 AM EST | Matt Mercuro

A dealership in Newport Beach, California confirmed that someone had purchased a vehicle from them by using bitcoins, according to NBC News.

A Lamborghini Newport Beach official said to The Daily Dot that the unidentified buyer spend 91.4 bitcoins for a Tesla Model S sedan.

"Bitcoin, a fully encrypted and fully digital currency, has been used by a recent client of ours to pay for a Tesla Model S Performance we had in our inventory. That's right, an electronic currency was used to purchase a fully electric vehicle," Lamborghini Newport Beach said in a blog post.

The dealership didn't confirm when the sale took place or what it was equivalent to in dollars, but a Model S sedan usually goes for between $80-$90,000 in the U.S.

"Lamborghini Newport Beach is proud to announce that we are fully capable of accepting bitcoin as payment for vehicles. We are excited to be opening the door to this new currency," the dealership said.

Bitcoin was introduced in 2009, according to Yahoo. There are approximately 12 million bitcoins in circulation, as of press time.

The value of virtual currency has supposedly increased by several thousand percent since the beginning of 2013, and recently broke the $1,000 barrier on the Mt.Gox exchange, according to NBC News.

As of Dec. 5, bitcoin dropped slightly below $1,000, after to China's central bank banned finical companies from trading by using bitcoins.

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?

© 2021 Auto World News, All rights reserved. Do not reproduce without permission.
Get the Most Popular Autoworld Stories in a Weekly Newsletter

Join the Conversation

Real Time Analytics