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

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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