Business

Ed Drake

Buy a Mustang with Bitcoin: US custom car shop opens to crypto payments

You’ve heard of some so-called crypto millionaires snapping up Lamborghinis with their investment returns. Now, you can buy a Ford Mustang—and pay for it in cryptocurrency—thanks to a custom car shop in Yukon, Oklahoma.

Classic Recreations, which has secured a license from the Ford Motor Company and Shelby American to fabricate classic Mustang restorations and continuation cars, is now accepting payments in a range of different cryptocurrencies. Options including Bitcoin Cash (BCH), LTC, ETH, MTC and BTC coin are all on the table, as the company aims to reach a global audience of muscle car buyers.

Jason Engel, the owner of Classic Recreations, described his life-long passion for technology, saying, “My entire life I have had a strong fascination for technology and its evolution…Cryptocurrencies have come a long way and continue to solidify themselves as a legitimate currency on the global market. The true beauty of accepting cryptocurrency is the universal aspect of it which allows Classic Recreations to connect with consumers from anywhere in the world.”

The company, which has been making built-to-order vehicles for clients for some 15 years, said it hopes the move will appeal to the crypto-wealthy, as well as those looking to splash out on a new, custom car.

The association with cryptocurrency early adopters and car ownership has run for a number of years, with online pictures of Lamborghinis, Teslas, and even F1 supercars reflecting the riches some early investors have secured.

As a result, a number of luxury car dealerships have sprung up, specifically focused on serving customers within the cryptocurrency space. But while much of the activity has been seen at the upper end of the market, with Classic Recreations and crypto-focused dealerships, there is also some evidence of crypto being used further down the food chain.

In Japan, where cryptocurrency is more widely used in everyday transactions, it’s possible to buy secondhand cars with crypto, while several of the country’s biggest car dealerships are already setup to take payment in a range of cryptocurrencies.

With Classic Recreations now adding Mustang to the list of cars available in exchange for cryptocurrency, it looks like there’s never been a better time to be a crypto-trading petrolhead.

To receive the latest CoinGeek.com news, special discounts on CoinGeek Conferences and other inside information direct to your inbox, please sign up for our mailing list.

COMMENT

[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]