Buy a car with bitcoin? Some car dealers were years ahead of MUSK

SAN FRANCISCO (Reuters) – Georgia car dealer Christopher Basha was way ahead of Elon Musk in embracing bitcoin as a currency for selling vehicles.

Basha said he learned about cryptocurrency from a roommate who mined bitcoin. “Someone bought a pizza with bitcoin,” he said. “Buying a car with bitcoin didn’t seem that crazy.”

He began accepting bitcoin payments in 2015, but no customers were interested. “I almost forgot about it,” he said.

In 2017, bitcoin prices surged, and one customer used the cryptocurrency to buy four Kias for a total of more than $150,000, Basha said. Bitcoin payments have been picking up since late last year, with prices rallying.

Basha is one of a small group of auto dealers who have been accepting bitcoin and other cryptocurrencies from customers well ahead of Tesla Inc’s revelation that it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars. Reuters News

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