Jason Williams, one of the founders of Morgan Creek Digital sold his old car and received the payment in bitcoin instead of cash. Not the conventional way right? I definitely agree.
Morgan Creek Digital is a hedge fund that specializes in blockchain technology and digital assets. It was founded in July 2018 by Mark Yusko, Jason Williams, and Anthony Pompliano.
In a tweet, Williams announced that he sold his 2007 Chevrolet Suburban for 0.4 BTC. At the time of writing, this is worth $7,200 with bitcoin at $18,000. The price of a used 2007 Suburban may range from $5,975 to $7,950. If the price would go up to $130,000, Williams’s old car will be worth 7 times its supposed market price. But of course, it will still depend if bitcoin will reach the predicted price.
More companies and individuals are now investing in cryptocurrencies particularly with Bitcoin. Paypal, one of the top US companies has recently launched its own trading and payment system for its customers in the United States. This is weeks before its initial timeline. Also, even celebrities are lured into investing in Bitcoin. Actress Maisie Williams in Game of Thrones asked her 2.7M followers on Twitter whether to go long on Bitcoin.
The most anticipated Bitcoin bull run as experts predicted will soon happen. Everyone goes gaga over bitcoin despite its volatility. Though it is now being used in payment transactions, its performance is still relatively low. Fiat is still preferred by many over bitcoin or other digital assets. One of the advantages of using bitcoin as payment is its low transaction fees. We hope to see more patronage on the bitcoin or other cryptocurrency as payment to fully utilize the technology that comes with it. Instead of fiat, people will soon be accepting digital currency particularly bitcoin as payment for goods or services.