If you are looking to purchase a brand-new BMW any time soon then you’re are in luck as Stephen James BMW now accepts Bitcoin as a valid payment for the vehicle.
There are many things that holders can spend their Bitcoin on, for example, Jewellery and now it seems you can by a red-hot beamer from the German car manufacturer in London and Kent in the UK.
Stephen James BMW, a BMW and MINI car dealership based in South-East England sent out a tweet which said that BMW will now support payment of Bitcoins for their services.
Coupled with the announcement was the news that they will be working alongside with BitPay (who has been in the recently having received a BitLicense). The global platform accepts Bitcoin payments, including billing, e-commerce retail purposes and more.
However, BMW isn’t the first to make this move as Classic Recreations, a smaller custom car provider, has been accepting cryptocurrencies like Bitcoin for a while now. They also accept currencies like:
Litecoin
Bitcoin Cash
Ethereum
Docademic
According to Jason Engel, the owner of Classic Recreations, Cryptocurrencies will eventually become a “legitimate currency on the global market”.
Bitcoin investors usually spend their cryptocurrency holdings on goods and services, commonly they spend it on expensive items of luxury which are in high demand so getting consumers to spend their Bitcoin can be a challenge. If you offer them the right goods and services, they will more than likely start spending. This is why it makes sense for companies like BMW to introduce Bitcoin as a valid way to buy a car.
However, the news that Stephen James BMW Group is accepting Bitcoin is rather surprising as most of cars for Bitcoin deals were found in the US when it seemed like the rest of world was lagging behind.
