Technology

Street Cred: Model S Bought with Bitcoin

Could this be the start of a Bitcoin purchasing era?

Bitcoin will no doubt remain controversial for the foreseeable future, but that’s not stopping many people from investing in the virtual currency. And as it turns out, Bitcoin can also now be used to make some seriously big purchases, like a car. Lamborghini Newport Beach, located in Costa Mesa, California, has just announced that it’s sold a used Tesla Model S to a customer who paid for it entirely in Bitcoin. The exotic car dealer made the big announcement on its blog just the other day.

It's also the opportunity to make it clear to everyone that it now accepts Bitcoin as payment. It wasn’t revealed how much this customer paid for their Model S, but in dollars it was likely over $100k – it was the high-end Performance trim. But in case you aren’t aware what exactly Bitcoin is, it’s basically "an open source person-to-person electronic tender that uses cryptography to secure transactions." They’re impossible to duplicate and they’ve actually been around for a few years now but it wasn’t until more recently that they’ve become more popular. And like the stock market, Bitcoin prices fluctuate just like any other currency.

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