Dec. 6 (UPI) -- According to a blog post from Calfornia-based Lamborghini Newport Beach, the dealership sold a Tesla Model S Performance in exchange for the Bitcoin cryptocurrency on Wednesday.
It was reportedly the first vehicle the Lamborghini dealership sold using Bitcoin according to their blog, but it won’t be the last.
“Lamborghini Newport Beach is proud to announce that we are fully capable of accepting Bitcoin as payment for vehicles. We are excited to be opening the door to this new currency,” the blog post reads.
In the post, the dealership explains that Bitcoin is “an open source person-to-person electronic tender that uses cryptography to secure transactions” and that prices for the relatively new currency “fluctuate just as you would see on a currency exchange stock chart.”
How much electronic currency was used to buy the electric car?
As of Wednesday, bitcoins were worth about $1,150 each, so with a base price of $62,400, a Model S would have cost about 55 bitcoins.
It’s a good thing the dealership isn’t in China, as the country's central bank banned Bitcoin transactions at financial institutions.
Bitcoin value dropped on the news from China, making that same Model S worth about 67 bitcoins today.
[Lamborghininewportbeach] [The Verge]