Bitcoin is becoming an increasingly popular means of payment. Now you can buy a Tesla electric car for it again.
The Niklaus Children’s Hospital Foundation is one of the latest organizations to add cryptocurrency payment options for their clients.
Car For Coin, an auction website where users can buy luxury cars, also offered Bitcoin payments as an option.
Other examples of the latest cryptocurrency adoption are the fashion brand PacSun and the charity organization Nicklaus Children’s Hospital Foundation.
Tesla payment in BTC becomes possible again
Despite the fact that Tesla has suspended Bitcoin payments for its electric vehicles, citing energy consumption, the online exotic car market Car For Coin has again provided this opportunity.
According to a recent press release, the auction site, which features high-end cars such as Tesla, Porsche, Lamborghini, McLaren, Ferrari and others, allows customers to pay in US dollars or the equivalent in Bitcoin to purchase some types of expensive cars.
At the moment, the most expensive of them is the exclusive Porsche 911 GT3, which costs $ 110,000 or 2.02 BTC (in terms of today’s prices). Speaking of Tesla, you can buy a Model S from the brand for $35,000 or 0.64 BTC.
Tom Hegedos, founder of Car For Coin, explained in detail how people can use crypto payments in the new offer:
“During the auction, buyers and sellers do not need to worry about the unstable value of the cryptocurrency. All bids and auction prices are indicated in dollars, since the value of the fiat currency is known. Buyers can choose to pay for Tesla and other vehicles with cryptocurrency or traditional currency after winning the auction. If the seller does not accept cryptocurrency, we will convert it; it’s not a problem.”
On the other hand, Justice Conder, a cryptocurrency expert at the company, does not recommend paying for luxury cars directly in Bitcoin, since the main cryptocurrency is a notable asset that people should keep for the future. Instead, risky altcoins may be a more suitable option.
PacSun also accepts cryptocurrency
Another firm that has enabled digital asset settlements is PacSun. A major brand in the field of fashion and retail has added Bitcoin and other cryptocurrencies using the leading provider of blockchain payments – BitPay.
Namely: Ethereum (ETH), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Litecoin (LTC), Dogecoin (DOGE) and 5 stablecoins pegged to the US dollar (GUSD, USDC, USDP, DAI and BUSD). Brianne Olson, President of PacSun, commented:
“Digital sales have doubled compared to last year, so we understand the continuing importance of creating an exceptional online shopping experience for our customers.”
The California brand of retail clothing is designed for teenagers and young people. The fact that the younger generation is much more focused on technological innovation and digital currencies makes PacSun’s move very promising, according to its co-CEO Michael Relich:
“The audience of Generation Z, our main consumer, is very technology-oriented, and we pay a lot of attention to social networks and e-commerce in order to match their lifestyle and find a response from them on a more personal level. Seeing their growing desire for cryptocurrency, it became clear that we need to adjust and offer BitPay as another payment option.”
Donations to children in Bitcoin
The Niklaus Children’s Hospital Foundation also announced that people can now donate in the form of digital assets.
A non-profit charitable organization dedicated to improving healthcare for children will accept the following cryptocurrencies on its own initiative: Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, Litecoin, Basic Attention Token, Amp, ChainLink, Dai, The Graph, Gemini Dollar, Stor, UMA, Zcash and others.
Since the IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax, the foundation has allowed people to support its mission in a tax-efficient way. Nicklaus Children’s President Michelle Boggs commented:
“We are so excited to start accepting Bitcoin and altcoins as a donation method for the benefit of the children and families we serve every day. We hope that by adding this donation method, we will reach more people who want to support the work of our hospital to save lives, and we will do this with a quick, simple and secure transaction.”
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