Post Oak Motor Cars is now accepting dogecoin, a cryptocurrency that recently gained new heights of popularity following support from Tesla founder Elon Musk, as a form of payment. New Bugatti, Bentley, Karma, and Rolls-Royce vehicles are sold at the boutique sales location next to Houston’s only five-star hotel, The Post Oak Hotel at Uptown Houston.
This is the second form of cryptocurrency the Houston dealership has accepted. In 2018, Post Oak Motor Cars announced that it would allow customers to pay using bitcoin after integrating cryptocurrency processor Bitpay into its payment system.
Given the enormous price spike in the currency recently, I imagine quite a few holders are in the market for Rolls Royces.
This is the same pattern I saw with bitcoin: increasing acceptance in the real world as the price increases. I don’t own cryptocurrencies due to their volatility and lack of an income stream. That said, in the crypto market, dogecoin has long seemed like one of the better bets. Its market cap is a fraction of bitcoin’s, despite using the same underlying technology.
Its biggest disadvantage was a lack of acceptance as a form of payment, but that too is changing. Perhaps this coin has a lot further to run.
For more on dogecoin, check out these posts:
- This One Fact Could Drive Dogecoin Up 100X
- Bots Are Pumping GameStop And Dogecoin
- Who Is the Secret Dogecoin Billionaire?
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Photo: “Mansory Conquistador Rolls Royce Phantom – Team 93 – Team Rolls Royce Austria” by daveoflogic is licensed under CC BY-ND 2.0