Houston Rockets’ Billionaire Owner Accepts Bitcoin at Luxury Car Dealership

[cybersofts]

A luxury car retailer based in Houston, Texas, has become the first Bentley, Bugatti and Rolls-Royce (but not Lamborghini) dealership in the United States to adopt cryptocurrency as means of payment.

Post Oak Motor Cars, which is owned by Houston Rockets billionaire, Tilman Fertitta, will now accept bitcoin and bitcoin cash thereby breaking new ground in a segment that caters to athletes, celebrities and other elite clients.

According to Fertitta, the decision to accept crypto is aimed at enhancing the experiences of customers.

“The rising of bitcoin sparked my interest. Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this partnership will allow anyone around the world to purchase our vehicles faster and easier,” Fertitta, said in a statement.
Partnering With Payments Processor

Bitcoin payments at Post Oak Motor Cars will be processed by Bitpay, whose chief commercial officer, Sonny Singh, has said most buyers prefer making big purchases using the largest cryptocurrency by market capitalization because it is convenient.

Fertitta, who acquired the NBA team Houston Rockets last year at a price of US$2.2 billion, has been a vocal proponent of bitcoin. At the beginning of the year, for instance, the billionaire who also hosts the Billion Dollar Buyer reality television show on CNBC declared that bitcoin would become a permanent feature as he predicted that his businesses spread across various sectors would start accepting cryptocurrencies as means of payment.


Reference: https://www.ccn.com/houston-rockets-billionaire-owner-accepts-bitcoin-at-luxury-car-dealership/

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[BrewMaster]

things like this sound good in the news but in the end in my opinion, they do not matter at all because their target customer is extremely limited. for example in this case luxury cars already have limited customers and on top of it this is just one  dealer that is accepting bitcoin which limits it even further.

what we want is more adoption in places where average people have access to. like grocery stores, retailers, online shops,... for instance we need Amazon to start accepting bitcoin or instead (even better) we need Open Bazaar to be adopted more replacing Amazon.

[First77]

But 3rd richest man "Warren Buffet" said "bitcoin is rat poison" and "bitcoin will end up badly"

Owner of bitconnect got arrested in India for $13 billion ponzi scheme using Bitcoins.

Bitcoin has been involved in multi-billion dollars scams, never heard of till now. Keep an eye on bitcoin.

U.S President Donald Trump said "Barack Obama did scary things"

[Jating]

things like this sound good in the news but in the end in my opinion, they do not matter at all because their target customer is extremely limited. for example in this case luxury cars already have limited customers and on top of it this is just one  dealer that is accepting bitcoin which limits it even further.

It might set a precedence in the future. Crypto investors are shouting "Lambo", so most likely buyers of this sort of luxury cars are either millionaires or bought crypto early. Limited customers with unlimited amount of money, still good news in my opinion.

what we want is more adoption in places where average people have access to. like grocery stores, retailers, online shops,... for instance we need Amazon to start accepting bitcoin or instead (even better) we need Open Bazaar to be adopted more replacing Amazon.

I agree. Casual people like us should used crypto like buying stuffs offline and online. May not be happening today, but we all know that sooner or later it will be. Japan for instance has been in crypto for more than a year now and continues at a rapid phase. Bitcoin ATM"s are also slowly increasing year-to-year. Crypto adoption is just around the corner.

[Demonster]

Bitcoin grow up everywhere. As I know rose Royce is acceptiung bitcoin so moany company will sign deal with bitcoin very soon. Not only billionaires all people will use bitcoin in future because it is easy to transfer and it is more safe than regular currency.

[dothebeats]

While the news seem to be overall a positive one, this wasn't new in the world of cryptocurrencies. Luxury items were sold in bitcoin even way beyond 2015, with a house even sold for bitcoins back then. Perhaps it's time to focus bitcoin spending on a whole sensible aspect: things that people need yet don't cost a fortune at all e.g. clothes, basic necessities etc.  It will be more groundbreaking given the large demographic it will hit with merchants accepting bitcoin as a payment method for their stores.

[skisport92]

this person in this way attracts attention to his business) not because he is interested in blockchain as a means of payment, just PR on a new trend

[reflector]

A luxury car retailer based in Houston, Texas, has become the first Bentley, Bugatti and Rolls-Royce (but not Lamborghini) dealership in the United States to adopt cryptocurrency as means of payment.

Post Oak Motor Cars, which is owned by Houston Rockets billionaire, Tilman Fertitta, will now accept bitcoin and bitcoin cash thereby breaking new ground in a segment that caters to athletes, celebrities and other elite clients.

According to Fertitta, the decision to accept crypto is aimed at enhancing the experiences of customers.

“The rising of bitcoin sparked my interest. Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this partnership will allow anyone around the world to purchase our vehicles faster and easier,” Fertitta, said in a statement.
Partnering With Payments Processor

Bitcoin payments at Post Oak Motor Cars will be processed by Bitpay, whose chief commercial officer, Sonny Singh, has said most buyers prefer making big purchases using the largest cryptocurrency by market capitalization because it is convenient.

Fertitta, who acquired the NBA team Houston Rockets last year at a price of US$2.2 billion, has been a vocal proponent of bitcoin. At the beginning of the year, for instance, the billionaire who also hosts the Billion Dollar Buyer reality television show on CNBC declared that bitcoin would become a permanent feature as he predicted that his businesses spread across various sectors would start accepting cryptocurrencies as means of payment.


Reference: https://www.ccn.com/houston-rockets-billionaire-owner-accepts-bitcoin-at-luxury-car-dealership/

Just before a day I have noticed some people created thread says bitcoin has been accepted at rolce Royce brand and now another great move from the car dealership industry.
Here we need more adoption in the market to boom up ourself on using the adoption and positive value of the cryptocurrency rates.

[Shative]

That's a great news to start with, gradually the uses of Bitcoin in various sectors is increasing. However, although this case accepts Bitcoin, but it is only limited to only a few persons. It'd have been better if Bitcoin got accepted to common sites where the common people can access too. I have a hope that that day is somewhere near.

[Maestro75]

things like this sound good in the news but in the end in my opinion, they do not matter at all because their target customer is extremely limited. for example in this case luxury cars already have limited customers and on top of it this is just one  dealer that is accepting bitcoin which limits it even further.

This is a good start and we do not have to be negative about it. We have to remember that Rome was not built in a day and that the journey of a thousand mile begins with a step. I believe many more dealers will join accepting cryptocurrency as payments. And this time it will not just be bitcoin alone but the altcoins.