BTC $44767.35 (-6.8%)
ETH $3115.89 (-9.3%)
USDT $1.00 (0.12%)
BCH $568.39 (-10.%)
BSV $153.40 (-3.3%)
LTC $163.51 (-9.6%)
BNB $382.17 (-6.8%)
ADA $2.11 (-10.%)
DOGE $0.21 (-10.%)
BTC $44767.35 (-6.8%)
ETH $3115.89 (-9.3%)
USDT $1.00 (0.12%)
BCH $568.39 (-10.%)
BSV $153.40 (-3.3%)
LTC $163.51 (-9.6%)
BNB $382.17 (-6.8%)
ADA $2.11 (-10.%)
DOGE $0.21 (-10.%)

General Motors Eyes Bitcoin as a Payment Method

General Motors Eyes Bitcoin as a Payment Method
  • General Motors watches Bitcoin’s performance due to its CEO statement
  • The company will monitor and evaluate the customer demand for it in the future
  • As of now, Tesla is the only car manufacturer to accept Bitcoin as a payment to purchase its cars officially

The part of the MOBI blockchain coalition, automotive giant General Motors (GM), watches Bitcoin’s potential due to its CEO statement. The company has not yet made a final decision but will carefully study whether buyers would be interested in BTC payments, wrote CNBC.

According to General Motors CEO, Mary Barra, the company is not yet planning to invest in Bitcoin. However, the company will still continue to monitor and evaluate the performance of BTC. And, ‘if there is strong customer demand for it in the future, there’s nothing that precludes us from doing that,’ stated Mary Barra during GM’s fourth-quarter earnings call.

Interestingly, GM does not sell its cars directly to clients. The company uses a franchised dealer network. In this case, if GM adopts cryptocurrency as a payment method, it will have to work through this process with its dealers and their shared systems.

As a reminder, Tesla is currently the first and only car manufacturer to officially accept Bitcoin as a payment to purchase its cars. It is also worth mentioning that recently Daytona Nissan announced the adoption of Dogecoin as a payment method. Considering the mentioned facts and the numerous blockchain patents of General Motors in the past, it seems possible that its cryptocurrency adoption is within reach.

Recommended News

Irina is a language expert that speaks English, Turkish, Uzbek, and Kazakh. She constantly sweeps the Russian-speaking cyberworld for news. She occasionally submits her write-ups to CoinQuora.