Norman Vialle is leading the way as far as merchants beginning to accept Bitcoin for big ticket items. The owner of Overland Park Jeep Dodge Ram Chrysler in Kansas City has become the first car dealer in the United States to accept Bitcoin. Despite the recent price volatility, stories of more mainstream adoption continue to come in at a rapid clip. From a New York property developer’s decision to accept them as rent payment, to popular online dating site OK Cupid announcing acceptance. Now we can add car dealerships to the list. From the Wall Street Journal:
Norman Vialle, a 53-year-old car dealer in Kansas, invested in his share of winners and losers during the Internet bubble of the 1990s. Now he is clinging to a stash of Bitcoin, even though the fledgling virtual currency has lost about 70% of its value in the past week.
“It’s volatile because it’s new, but it’s still a lot higher than it was a month ago,” Mr. Vialle says.
In addition to investing in the currency, Mr. Vialle recently began accepting bitcoins for payment at Overland Park Jeep Dodge Ram Chrysler. One of his customers is planning to pay for a $40,000 Jeep with the currency next month.
But Jennifer Longson, who began accepting bitcoins at her San Francisco cupcake bakery in October, considers the volatility to be no different from the fluctuations she sees in the price of her baking ingredients. Customers use Bitcoin for payment three or four times a week at her store, she said. “They’re all excited to talk about it,” said the owner of Cups and Cakes Bakery, whose concoctions include cupcakes made with ingredients such as bacon and tequila.
As much as everyone seems to want Bitcoin to just go away, it ain’t happening.
Full article here.
In Liberty,
Mike
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