The car industry was caught aback when Tesla said it would accept Bitcoin as payment for its electric automobiles. However, the plan was immediately abandoned barely two months after it was implemented. Those wanting to spend their bitcoin winnings may have been disappointed, but worry not: a Porsche shop in Baltimore has stated that it will gladly accept your money in exchange for a 911 Turbo.
BitPay announced the new payment option on Twitter, stating that the dealership now accepts cryptocurrencies for vehicle sales. While the investing community continues to debate the legitimacy of Bitcoin, Dogecoin, and Shiba Inu, many people all around the world have invested in the aforementioned cryptocurrencies and have reaped the benefits.
If the volatility of these digital currencies makes you nervous, buying a Porsche is a great way to spend your windfall. While it may seem unusual, this isn't the first time a high-end dealership has handed up its best inventory in exchange for Bitcoin.
When a customer inquired about the new payment option, the dealership responded that they "are presently not seeing anything in the system concerning the cryptocurrency." This might simply be due to the fact that the new payment method has not yet been formally deployed.
A California dealership sold a Bugatti Chiron and a Pagani Huayra to a buyer who paid in full using cryptocurrencies in 2018. There have been multiple instances where supercars have been swapped for digital money elsewhere. Is this the end of the world? That may be true, but it doesn't change the fact that we regret not investing in Bitcoin earlier.
The aforementioned Porsche Turbo, which starts at $174,300, is a significant investment. One Bitcoin is now valued at roughly $41,600 at the time of writing. The well-known cryptocurrency, which was first developed in 2009, was almost worthless in 2010 (reportedly priced at $0.0008/BTC). You don't need a math degree to figure out what a small investment would have yielded back then.
A one-time purchase of 100 Bitcoins is now worth more over $4.1 million, more than enough to buy a slew of Porsches from Porsche Towson for yourself, your friends, and your family. It'll be fascinating to watch how many would-be Porsche buyers take advantage of the Baltimore dealer's offer. After all, Bitcoin is notorious for its erratic behavior. Its value might plummet, but it also has the potential to surge. We know what we'd do; the grin a 911 Turbo provides never fades.