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The first purchase of a Bentley for Bitcoin
The first purchase of a Bentley for Bitcoin
Bitcoin

The first purchase of a Bentley for Bitcoin

By Fabio Lugano - 20 Sep 2018

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The Houston-based Post Oak Motor Cars dealer has sold the first Bentley for bitcoin.

The showroom, a major dealer of luxury cars, had recently entered into an agreement with the payment provider BitPay with the aim of expanding its potential customers and to allow anyone to buy a car with cryptocurrencies.

This new opportunity was immediately taken advantage of by a local businessman, Ken Bridge.

Owner of a well-known restaurant, Bridge used his own bitcoins to buy a luxurious Bentley Continental GT.

A big hit for Tilman Fertitta, the owner of the dealership who had been accepting BTC and BCH for a couple of weeks.

Bridge has been a fan of the blockchain and bitcoin for a long time and had already made his first purchases when BTC was worth just over six hundred dollars.  

When asked why he used bitcoin, Bridge replied: “I have always had tremendous respect for Tilman and all that he has accomplished, and I wanted to demonstrate my support towards his pioneering efforts. Blockchain and crypto are undoubtedly the technologies of the future, and I applaud Tilman for making massive strives in Bitcoin consumerism“.

A Bentley Continental GT costs between $250,000 and $320,000, depending on the set-up, so we can imagine that between 40 and 50 BTC were used, considering the current prices.

Ken Bridge also uses the blockchain as a promotional tool for his own business: who orders from his restaurant via smartphone gets Roobee Coin tokens that can be used to obtain discounts in stores.

Fabio Lugano
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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