And there's a very good reason why.
The daily rise of Bitcoin value has been in the news lately, so the frequency of it being offered as a form of payment is to be expected. Case in point: this McLaren 720S. Just a few days ago, its seller posted it on Craigslist for 30 Bitcoin. But that was then, and today that same seller is now asking 25 Bitcoin for the still for sale McLaren. What’s the reason for this drop? Simple. The value of Bitcoin has gone up. When it was posted for 30 Bitcoin, a single Bitcoin was worth $14,634.80.
Just a few days later, and as of this writing, a single Bitcoin equals $17,249.90. Do the quick math and this low mileage 2018 McLaren 720S is being sold for around $431,000. Actually, that’s still a price drop, in dollars, compared to just a few days ago when the dollar equivelant amount was $439,043. Taking eight grand off (in dollars) is all fine and good, but what’s really interesting to see happen are things, in this case a car, adjusting their so-called Bitcoin price so quickly in order to keep up with Bitcoin worth. Bitcoin worth shows no sign of slowing down, although many currency analysts view it as a bubble just waiting to burst. Perhaps it will. Then again, it could stabilize.
No one knows for sure. So, if you have 25 Bitcoin to spare, should you buy this McLaren? After all, there is a months-long wait list to get it from the factory. The answer boils down to two things: do you even have Bitcoin, let alone enough, and, if so, should you spend it now?