Jason Williams, the co-founder of Morgan Creek Digital, has sold his car for Bitcoin, as some people seem to prefer selling their belongings for cryptocurrency instead of fiat money.
It has been reported that Williams announced on Twitter that he sold his 2007 Chevrolet Suburban for 0.4 BTC, worth around $7,300.
However, according to car shopper website Edmunds.com, a used 2007 Suburban costs around $7,000, while the new 2021 model costs over $50,000.
Sold it for 0.4 BTC fwiw. Feels like I may have done well. We will see. https://t.co/nMUm2AfkAp — Jason A Williams (@GoingParabolic) November 19, 2020
The report said that if the Bitcoin price breaks $130,000, as some have predicted, there’s a chance Williams will have sold his 13-year-old car for as much money as a brand new model.
Morgan Creek Digital co-founder sells his Chevy for Bitcoin https://t.co/R5pugvSBX2 pic.twitter.com/XbYa2P8DOA — Crypto Trader Pro 🇺🇸 (@CryptoTraderPro) November 20, 2020
Despite publicized instances of celebrities and businesspeople transacting in crypto, Bitcoin use for payments is still relatively low, and many have criticized the coin for being a poor means for payment.
Likewise, in a recent blog post Fidelity Digital Assets aimed to dispel this notion by suggesting that the Bitcoin network’s decentralization and immutability were a worthy trade-off.
Thus, major payments-related firms are finally getting on-board with the seminal cryptocurrency.
Source: Cointelegraph
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