clock menu more-arrow no yes mobile

Filed under:

Lamborghini dealership starts accepting Bitcoin

New, 54 comments
Tesla Model S stock
Tesla Model S stock

A Tesla Model S has been purchased with Bitcoin, the virtual currency that mimics cash on the internet, at a California dealership.

"That's right, an electronic currency was used to purchased a fully electric vehicle," Lamborghini Newport Beach announced on its blog. The dealership will also be accepting Bitcoin going forward.

A Model S has a base price of $62,400. The blog post is dated Wednesday, when a single Bitcoin was worth around $1,150, so the car would have cost around 55 bitcoins. The value of Bitcoin has dropped to about $930 since then, however, after the Chinese government banned it from banks, so the same car would be 67 bitcoins today.

UPDATE: This announcement now looks overblown. The general manager tells CNBC that he made the customer convert bitcoins into dollars before accepting them. The car was reportedly $103,000, or around 91 bitcoins.