Baltimore-Based Dealer Lets You Pay For Porsches With Cryptocurrency

When Tesla announced it would accept Bitcoin as payment for its electric vehicles, the auto industry was taken aback. But just two months after implementing the new payment option, the idea was quickly suspended. Those itching to spend their cryptocurrency profits may have been disappointed, but fear not – a Baltimore-based Porsche dealership has announced it’s only too happy to take your digital currency in return for a 911 Turbo.

BitPay took to Twitter to announce the new payment method, noting that the dealership is now accepting cryptocurrency as payment for vehicle purchases. While the credibility of Bitcoin, Dogecoin, and Shiba Inu is still disputed within the investment community, many individuals across the world have invested money into the aforementioned cryptocurrencies and, as such, have been greatly rewarded.

Turn your #crypto into precious metal at Porsche Towson. Now accepting Crypto as payment for vehicle purchases. Learn more: https://t.co/g5eD13Y7tS#Porsche #crypto #bitcoin #doge #shib pic.twitter.com/Yj3yO3iIyK

— BitPay (@BitPay) April 19, 2022

If the volatility of these digital currencies scares you, the purchase of a Porsche is an ideal way of spending your massive profits. While it does sound rather newfangled, it’s not the first time a premium dealership has offered up its finest inventory in return for Bitcoin.

In 2018, a Californian dealership sold a Bugatti Chiron and Pagani Huayra to a customer who paid the full amount using cryptocurrency. Elsewhere, there have been several separate occasions where supercars have been exchanged for digital currency. Is the world going crazy? That may be the case, but it doesn’t stop us from being remorseful about not investing in Bitcoin back in the day.

Priced from $174,300, the aforementioned 911 Turbo will set you back a substantial chunk of change. At the time of writing, the price of one Bitcoin is pegged at around $41,600. First created in 2009, the well-known cryptocurrency was essentially worthless in 2010 (it was reportedly valued at $0.0008/BTC). You don’t need a degree in mathematics to understand what a humble investment back then would translate into.

An initial purchase of just 100 Bitcoins would now be worth more than $4.1 million; more than enough to purchase a bevy of Porsches for yourself, your friends, and your family from Porsche Towson. It would be interesting to see how many would-be Porsche owners take the Baltimore-based dealer up on their offer. After all, Bitcoin is known for its volatility. It could take a massive plunge but, then again, it could soar in value. We know what we’d do; the smile a 911 Turbo affords you never wears off.