NewsletterIs General Motors (GM) Next Car Maker To Accept Bitcoin After Tesla??
General Motors (GM), the 113-year-old car manufacturer could follow leading car manufacturer Tesla and add Bitcoin to their treasury as per City AM. The assumption is made based on a recent survey conducted by the company that asked its customers whether they would be comfortable in using cryptocurrency as a method of full or part payment.
The feedback form initiated by GM comes days after Tesla announced that it would allow US customers to pay for Tesla cars in Bitcoin. Apart from that Musk also promised that the Bitcoin proceeds from the car sale won’t be converted to fiat.
General Motors tipped to follow Tesla and accept #Bitcoin
– London, City A.M.— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) March 26, 2021
Tesla bought $1.5 billion in Bitcoin a month ago and has already made $1 billion profit on their Bitcoin purchase. While many criticized Tesla’s decision to invest in a volatile asset, however, Elon Musk’s recent decision to allow Bitcoin purchases surely shows tech billionaires’ determination towards the top cryptocurrency.
GM CEO Had Dismissed Bitcoin Investment Speculations Last Month
The speculations about GM possibly looking to invest in Bitcoin might have arisen from its recent feedback campaign, however, only last month CEO of the firm Mary Barra had dismissed any plans of Bitcoin investment but suggested that they would evaluate depending on customer’s demand, saying,
“We don’t have any plans to invest in Bitcoin, so full stop there,”
“This is something we’ll monitor, and we’ll evaluate, and if there’s strong customer demand for it in the future, there’s nothing that precludes us from doing that.”
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