BTCBusiness

Is General Motors Planning to Accept Bitcoin Payments?

Automotive giant General Motors is monitoring Bitcoin’s potential, according to statements from its CEO, but it is not yet clear whether the firm actually plans to accept the cryptocurrency.
GM Is Monitoring Bitcoin
General Motors CEO Mary Barra recently stated that the company “[doesn’t] have any plans to invest in Bitcoin, so full stop there.”
She continued: “This is something we’ll monitor, and we’ll evaluate, and if there’s strong customer demand for it in the future, there’s nothing that precludes us from doing that.”
In context, the latter half of Barra’s statement seems to suggest that the firm is examining Bitcoin’s potential as a means of payment.
Her answer was given in response to a question from Adam Jonas, a research analyst at Morgan Stanley, who noted that Bitcoin was “optimal for big ticket purchase[s]” such as cars.
Jonas’ question was prompted by the fact that a “growing number of high-profile companies including a major competitors” are holding Bitcoin. He was likely referring to Tesla’s decision to invest in $1.5 billion in Bitcoin and accept it as a means of payment.
General Motors and Blockchain
Barra concluded that she is “taking [the] question very seriously,” suggesting that General Motors is certainly monitoring Bitcoin’s potential, and that this was not an off-the-cuff answer.
That idea is supported by General Motor’s previous efforts. Aside from examining Bitcoin, General Motors has already filed for numerous blockchain patents. It is also part of …
Story continues on Crypto Briefing

Related posts
BusinesschainalysisInvestment

Crypto Analytics Firm Chainalaysis Now Valued at $2 Billion

Crypto analytics firm Chainalysis secures a $100 million investment at a valuation of $2 billion.  Chainalysis Continues to Turn Heads Chainalysis’s eighth funding round was led by Paradigm, with participation from TIME Ventures, the investment fund by billionaire investor Marc…
Bitcoin miningBusinessKentuckyLegislation

Kentucky Governor Signs Bitcoin Mining Incentive Bill Into Law

A new law in Kentucky will provide tax exemptions to cryptocurrency mining operations and attract them to the state.The governor of Kentucky, Andy Beshear, has signed a bill meant to incentivize cryptocurrency miners to set up shop in the state…
BitcoinBTCbtcusdBTCUSDTCryptoElon MuskteslaTSLAXBTxbtusd

How Buying A Tesla With Bitcoin Is A Catch-22

This week the crypto market went nuts when Elon Musk revealed his company began accepting Bitcoin as a form of payment for any Tesla model. While this caused prices to initially soar, reading the fine print reveals a bit of…