Tuesday, January 28, 2020

Car Dealership in Oklahoma Accepts Bitcoin for Payments

Grace Joseph
Freelance Writer, Blogger, and Crypto Enthusiast. Studied Computer Science in University and Undergoing a Masters Degree Programme in Computer Engineering Contact@ reigngracia@gmail.com

In the past few weeks, there has been an increase in the number of companies accepting Bitcoin. The same is now the case with Bob Moore, an auto group that operates 18 dealerships in Oklahoma. Bob Moore in a press release on March 14 announced that they will be accepting Bitcoin, Ethereum and Litecoin for car payments.

Bob Moore Partners with Aliant Payments to Receive Crypto

Per the press release, Bob Moore has partnered with Aliant Payments, a company that enables merchants to receive cryptocurrency payments. Therefore, the collaboration will allow the auto company to receive Bitcoin, Litecoin, and Ethereum for its cars and vehicle parts.

The company also outlined that its Subaru dealership in Oklahoma City will be the first to start accepting these digital currencies. Subsequently, other dealerships in the state will be incorporated.

Bob Moore’s Acceptance of Cryptocurrency is Remarkable

While receiving Bitcoin payments in the Auto industry is not the first of its kind, Bob Moore’s acceptance of this asset class is quite remarkable. For instance,
Costa Mesa store, a Lamborghini dealership began receiving crypto payments in
September 2017. But then, only a number of rich crypto investors and Bitcoin influencers were able to afford the sleek ride.

Bob Moore, on the other hand, focuses on new and used cars that are pricey and affordable. The company runs 18 dealerships across the state including Buick Dodge, Audi, Infiniti, Cadillac, and Ford. Others are Porsche, GMC, Jaguar, Nissan, Jeep, KIA, Land Rover, Maserati, Mazda, Chrysler, and Ram.

Affordability and More Brands to Foster Massive Adoption

As a result, people can settle for a car in a different brand and make a selection based on their purchasing power. What this means for the cryptocurrency industry is an increase in the adoption of virtual assets for payments. Here, an average citizen will also be able to make a purchase for either a car or its parts.

Charles E. Davis, General Manager at Bob Moore Subaru said the company is excited to be the first premier dealership group in the state to adopt cryptocurrency for payments. He noted that the company is the first large group in the country to be receiving these assets.

Davis also said:

We expect great things from this ever-evolving space and with Aliant payment systems ability to remove the volatility, we were able to make it a reality.”

BTCNN on March 14 also informed that a real estate property in Northern Australia will be accepting Bitcoin and Binance Coin during its live auction which will be streamed online. Changpeng Zhao, Binance’s CEO also publicized the property’s advert on his Twitter account, showing his followers the home that will soon be purchased with either cryptocurrency.

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