Buying Cars with Bitcoins?

January 17th, 2014

2013 Tesla Model S and bitcoins

Perhaps this is a sign that I’ve officially become out of touch with advances in technology. I thought I’d been doing pretty well keeping up, as I’m well-versed in things like The Google and The Facebook.

But when a friend mentioned bitcoins to me yesterday, my response was nothing more than a blank stare.

“What kind of coins?”

“Bitcoins,” he answered.

“I have no idea what you’re talking about.”

“How can you not know about bitcoins? Someone just bought a Tesla with them!”

That caught my attention. “Someone bought a car with Monopoly money?”

“It’s not Monopoly money,” he replied. “It’s actual worldwide digital currency.”

“So someone strolled into a dealer, paid in these bitcoins, and drove away in a $100,000 car?”

“Yes.”

Naturally, I had some research to do.

I’m sure that you, as a tech-savvy and educated reader, know much more about bitcoins than I do. I still don’t fully understand where they came from, why, and how they are worth so much actual money. After a quick search on The Google, though, I found confirmation that a Tesla Model S was indeed purchased using these imaginary things called bitcoins.

Sort of.

To quickly sum up, a Florida man contacted a Lamborghini dealer in California who had a Model S for sale. The buyer expressed interest and then mentioned that he intended to pay in bitcoins. The dealer agreed to conduct some due diligence and then called the man back with a decision: Bitcoins could be used, if they were converted to cash first.

Here’s the part that really blows my mind: The buyer, who wants to remain anonymous, cashed in 91 coins. Ninety one digital online coins were worth enough to cash in and buy a $103,000 car. Ummm… I’ve collected way more than 91 coins in Super Mario Bros., and I don’t have a Tesla.

Whatever this buyer has done, it worked, and this could easily be the start of a new way to save up for and buy cars.

Do you think you could buy a car with bitcoins?

-tgriffith

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