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Jared Hamilton
From: Jared Hamilton
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Ryan Gerardi

Ryan Gerardi Futurist

Exclusive Blog Posts

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We conducted a lot of interviews with thought leaders at NADA 2019, and we will be posting them in the community for the next few weeks.   I…

[WEBINAR] Your GamePlan to Triple Your BDC Close Rate Without Breaking the Bank

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Matt Weinberg, SVP of Consumer Experience at Drive Motors, presented our latest webinar.  He discusses the evolution of the Internet lead and shows …

Advances in Inventory Management

Advances in Inventory Management

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When Will Your Dealership Be Accepting Bitcoins?

In October of 2017, entrepreneur and early Bitcoin investor Peter Saddington bought a Lamborghini with Bitcoin, paying the equivalent of $115 thanks to Bitcoin’s high exchange rate. The story captured the public’s imagination and has also piqued the interest of car dealers.

There are now a number of dealers happy to accept Bitcoin for a new car purchase, which you can locate on spendbitcoins.com. These dealerships can work with people locally and some offer nationwide service. Interested customers can search these dealers through the search offered on Spend Bitcoins.

There’s still some debate as to whether or not Bitcoin holders should spend their money, even if it means getting an amazing deal. It’s hard to say what the future will bring of Bitcoin, but some experts have predicted Bitcoin value to go even higher in the next 12 months. 

More importantly, how long before your dealerships expects to be accepting Bitcoins? Maybe it is already?

Vidushi Jain

At this point, Bitcoin is not a currency but a highly risky asset subjected to market conditions. Dealerships need to review it like any other asset/ equity investment.

In my view, we are currently in hype cycle for bitcoin and like dotcom, there will be a big correction before it becomes mainstream.  

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