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 Bitcoin Meets Tesla in Lamborghini Dealership’s Model S Sale (1)

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Bitcoin Meets Tesla in Lamborghini Dealership’s Model S Sale (1) Vide
PostSubject: Bitcoin Meets Tesla in Lamborghini Dealership’s Model S Sale (1)   Bitcoin Meets Tesla in Lamborghini Dealership’s Model S Sale (1) Icon_minitimeFri Dec 06, 2013 7:42 pm
Bitcoin, the virtual money former Federal Reserve Chairman Alan Greenspan called “a bubble,” was accepted as payment in the purchase of a Tesla Motors Inc. (TSLA:US) Model S electric car at a California Lamborghini dealership.

Bitcoin Meets Tesla in Lamborghini Dealership’s Model S Sale (1) IqD1Ezpu_gTk

Lamborghini Newport Beach sold the Model S for about $103,000, or 91.4 Bitcoins, in a transaction that was processed by payment processor BitPay, said Cedric Davy, marketing director for the Costa Mesa, California-based dealership. The sale cleared today and the Model S will be delivered to its Florida-based buyer, who asked not to be identified, Davy said by telephone.

“We’re a dealership -- we’re not in the business of doing any speculation,” he said. “For us, it was just important that the money could be transferred into U.S. dollars.”

While Bitcoin has been embraced by some as a way to pay for goods using smartphone applications, the money has had a harder time winning acceptance from governments and banks. This week China’s central bank barred financial institutions from handling Bitcoin transactions. Baidu Inc. (BIDU:US), the owner of that nation’s largest Internet search engine, today halted acceptance of payments using Bitcoins for its website-acceleration service.

Bitcoins exist as software and aren’t regulated by any country or banking authority. They climbed more than 80-fold this year through yesterday and were trading at $874, down 15 percent, at 4:33 p.m. on Bitstamp, one of the more active online exchanges where the digital money is traded for dollars and other currencies.

More:  http://www.businessweek.com/news/2013-12-06/bitcoin-meets-tesla-in-california-dealership-model-s-transaction
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