Jason Williams, a co-founder of Morgan Creek Digital, announced that he sold his 2007 Chevrolet Suburban for 0.4 BTC, which equates to roughly $7,300.
According to car shopper website Edmunds.com, a used 2007 Suburban costs around $7,000, while the new 2021 model costs over $50,000.
If the Bitcoin price eventually breaks $130,000, as some have predicted, there’s a chance Williams will have sold his 13-year-old car for as much money as a brand new model.
While interest in Bitcoin appears to be surging, its use for payments is still relatively low, and many have criticized the digital asset for being a poor means for payment.
However, Fidelity Digital Assets recently aimed to dispel this notion, suggesting that the Bitcoin network’s decentralization and immutability were a worthy trade-off.
Moreover, major payments-related firms are finally getting on-board with the seminal cryptocurrency. This was evident when major payments network PayPal finally rolled out its crypto trading and payment service to customers in the United States.
Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. Created by a small group of cryptocurrency enthusiasts, Coinchapter.com was built to provide new members of the crypto asset community with unbiased listings of cryptocurrency exchanges and retail options that would allow them to buy the crypto assets that they wanted, how they wanted and at the price they wanted.