The cryptocurrencies have started gaining its popularity amongst the community, companies, and government worldwide. They act like stock markets, swinging at the peak and slashed the following macro fundamentals and geopolitical factors. They have become quite volatile likewise securities traded in the stock markets. The transactions through cryptocurrencies are executed with the help of blockchain technology.
The blockchain technology has attracted numerous investors and community from around the world. The one amongst them is Post Oak Motor Cars, a luxury car dealership based in Houston, Texas. As per the official source, the firm is the first one that transacts in Bentley, Rolls-Royce, Bugatti dealerships in the U.S. to accept Bitcoin and Bitcoin Cash for the payments. The luxury car buyers purchase their vehicles from Oak Motor Cars through BitPay and Bitcoin. The firm is believed to have raised more than $70 million from investors across the globe.
The promoter of the Post Oak Motor Cars, Tilman Fertitta said in his statement, “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.”
The formal announcement comes especially when the Bitcoin prices slashed by more than $450. However, the crypto major is expected to swing its movements in the days to come.
Let us not forget that the blockchain technology creates a de-centralized platform which can be used for a variety of purposes ranging from currency exchange to supply chain to payment transactions. So why Post Oak Motor Cars should lag behind!!