Post Oak Motor Cars, A Houston-based Luxury Automobile Dealer Now Accepts Bitcoin Payments
Although Bitcoin and the overall cryptocurrency market is going through a rough phase, some big business players are still accepting them as means of payment in exchange for their products and services.
Post Oak Motors Cars, a luxury automobile retailer in Houston has announced to accept Bitcoin (BTC) and Bitcoin Cash (BCH) payments against purchase of luxury cars like Bentley, Rolls-Royce, and Bugatti, the company said in its official announcement last week.
Tilman Fertitta, owner of Post Oak Motors said: “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 automobile retailer has partnered with payments platform BitPay to process all the transactions. Sonny Singh, BitPay’s chief commercial officer said that buyers prefer making purchases through Bitcoin, the world’s largest cryptocurrency by market-cap, because of its convenience.
Singh added: “We’ve noticed people prefer to make larger purchases with bitcoin since it is a simple way to make payments. This partnership is timely with the increasing popularity of Rolls-Royce, Bentley and Bugatti vehicles. Post Oak Motors has a great reputation of selling the finest cars and we are thrilled to be partnering with Tilman.”
Fertitta has been vocal earlier about his support to Bitcoin. Earlier this year, while hosting the Billion Dollar Buyer reality television show on CNBC, Fertitta said that his business spread across various sectors will start accepting Bitcoin. It looks like he has pretty much kept his word of mouth.
Fertitta also said that time that to increase the cryptocurrency adoption, it should be insured by the U.S. Federal Deposit Insurance Corporation. He said: “Go to the bank and try to withdraw a million dollars, they don’t have the money. It’s just paper. That’s all bitcoin is, is paper, but it’s not insured by the FDIC today. And until it’s insured, a lot of people are never going to buy it.”
During his talk at the CNBC power lunch in December 2017, Fertitta compared blockchain as the second coming of the internet. He said: “I think it’s going to happen… I mean, I remember somebody walking into my office and saying, ‘The world’s going to change. There’s this thing called the internet.’ And that wasn’t that long ago. So we have to remember this. It’s just something new and everything moves at a quicker pace today.”