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Morgan Creek Digital Co-Founder Exchanges Car For Bitcoin

  • 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. 
  • Read the full story here.

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