As Bitcoin (BTC) continues to rise, it seems that some people prefer to sell their assets with cryptocurrency instead of fiat money.
Jason Williams, co-founder of Morgan Creek Digital, the investment firm Morgan Creek Capital, sold his car for bitcoin.
Williams announced on Twitter that he sold his Chevrolet Suburban in 2007 for 0.4 BTC, which was valued at approximately $ 7,300 at the time of publication. A pre-owned 2007 Suburban costs around $ 7,000, and a new 2021 model costs over $ 50,000, according to car dealership Edmunds.com, according to Chevrolet’s official website.
If the bitcoin price exceeds $ 130,000, as some predicted, there is a chance that Williams will sell his 13-year-old car for the same money as a brand new model.
Despite reports of cases of celebrities and entrepreneurs working with cryptocurrencies, the use of bitcoin for payments is relatively low, and the currency has been criticized by many for being a poor method of payment. However, in a recent blog post, Fidelity Digital Assets seeks to remove this idea, suggesting that decentralization and stability of the Bitcoin network was a worthy trade-off.
Furthermore, large companies involved in payments are finally starting to join the regular cryptocurrency. Earlier this month, the large payment network PayPal finally launched a cryptocurrency trading and payment service for customers in the United States.