The US manufacturer of custom-made vehicles Mustang now accepts payments for its bespoke cars in cryptocurrencies, including BTC, LTC and ETH.
Classic Recreations is licensed by Ford Motor Company and Shelby American, based in Oklahoma and is authorized to manufacture and repair the Ford Mustang. Recently, the manufacturer announced that it will begin accepting payments for its cars in various crypto-currencies, including but not limited to BTC, BCH, LTC, ETH and MTC, to expand its customer base.
“My entire life I have had a strong fascination for technology and its evolution,” Engel said in a statement. “Cryptocurrencies have come a long way and continue to solidify themselves as a legitimate currency on the global market. The truck 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 has been operating for more than fifteen years. The creation of a car on request takes about four months (approximately 2,500 man-hours). All machines are made by hand and are created on the company's production facilities.
Buying expensive cars has long been a common way of showing wealth among the most successful members of the Bitcoin community. For example, in January 2016 in Finland for Bitcoins has been bought a Tesla worth 140,000 €. If there is demand - there is an offer. Over time, there were car dealerships luxury cars, specifically designed for a segment of the rich - freshly baked cryptocurrency millionaires.
But not only "whales" buy cars for Bitcoins. In Japan, where payments in the cryptocurrency are more common than anywhere else in the world thanks to the actions of regulators (since April 1, 2017, Bitcoin is recognized in Japan as legal trade instrument), even used cars are sold for Bitcoins. In December 2017 it was reported that one of the largest Japanese companies for the sale of used cars “Idom Inc”, announced cooperation with the Bitflyer crypt-exchange, in order to ensure the possibility of payments in Bitcoins in their offices. At first the option will be available in 25 offices, but in the future the company plans to take Bitcoins in 550 more branches.
Japan's retailers are generally distinguished for their advanced approach when it comes to the cryptocurrency industry. For example, in July last year, the Japanese retail electronics network Bic Camera began taking Bitcoins in all stores.
Some states have gone even further. Representatives of the Swiss municipality of Chiasso since January 2018 accept tax payments in bitcoins, although initially they will be limited to 250 Swiss francs (CHF).
In addition, in March this year the leader of the entertainment industry for adults Playboy Enterprises announced the integration of cryptocurrency payments, which will begin with the portal Playboy TV. According to the announcement, customers will be able to access in the future for cryptocurrencies other kind of goods, exclusive materials, supplemented reality (AR) and virtual reality (VR).