Cases like this were seen in the past months but mostly in December last year when the price of Bitcoin soared to almost $20k per 1. So, many firms and companies started accepting it as a medium of payment for whatever goods or services they provided.
It happened that Bitcoin investors and speculators didn’t spend their holdings on cheap commodities, rather they spent it on luxury and expensive items. The recent dealership to have embraced this new method of payment is Stephen James BMW Group.
In mid November last year, down to the whole of December, we saw a lot of firms especially car dealers firm accepting Bitcoin payments. However, the case has never remained the same as most of them now opted out from this method of payment, maybe due to fear that they might loss huge amount of money from it.
It has never been easy to see a consumer or investor using Bitcoin to purchase goods, considering the fact that the price was never stable. So they actually don’t see a good time to spend their assets, not until last year December, when we saw lot of people buying lots of new cars, houses and jeweleries.
A relatively large car dealership in London and Kent in the UK just renewed its partnership with the new technology as they now announce to the public that they are now accepting Bitcoin in exchange for their goods. So anyone interested in getting a BMW should pay via Bitpay platform using his or her Bitcoin.
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