NewsletterJust-In: Mahindra Hints At Buying Automobiles With Bitcoin In India
Mahindra Group Chairman Anand Mahindra on Thursday said people might soon be able to buy Mahindra automobiles with Bitcoin. While the crypto landscape remains uncertain in India due to strict regulatory pressure and tax burden, investors and companies continue to explore the crypto market.
Anand Mahindra replied to a tweet on whether Mahindra cars can be purchased with Bitcoin. He said there may be a possibility to buy Mahindra cars with Bitcoin in the future. It hints at a potential future when people in India can buy a car with Bitcoin or other cryptocurrencies.
Not yet. But maybe bit by bit in the future.. https://t.co/pQS0ZQ52Qf
— anand mahindra (@anandmahindra) April 20, 2023
Mahindra Group’s Crypto and Blockchain Presence
Bitcoin price currently trades at 23.80 lahks (approx. $29,000). Mahindra’s top model cars such as the XUV 700 cost between 20-30 lakhs. As Bitcoin price continues to rise, it will become cheaper to buy a car with Bitcoin.
Mahindra Group of companies are more inclined towards crypto and blockchain. Tech Mahindra has entered the blockchain and metaverse space, leading the advancements amid rising potential of these future technologies. Kotak Mahindra Bank became one of the first banks to open its doors to the crypto market in India.
Anand Mahindra was also rumored to be making millions by investing in Bitcoin. However, he dismissed all reports claiming that he hasn’t invested a single rupee in cryptocurrencies.
Mahindra & Mahindra even collaborated with Tech Mahindra to launch its first batch of Mahindra Thar Superhero-themed NFTs. The Thar NFT was sold for record 11 lakhs, which is almost equal to the Mahindra Thar cost.
Leading automobile companies such as Audi, BMW, Mercedes, and Porsche accept Bitcoin. Tesla also accepted Bitcoin for Tesla vehicles but discontinued its program in 2021. However, Tesla holds Bitcoin worth $184 million on its balance sheet.
Also Read: Coinbase (COIN) Shares Under Selling Pressure After Bermuda Expansion
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Eric Trump Says Now Is a Great Time to Buy Bitcoin Amid Crypto Crash
- Dogecoin, Cardano, Shiba Inu Eye Wider Adoption as Coinbase Announces Perpetual-Style Futures
- Solana News: SOL’s Supply Could Drop Twice as Fast as Disinflation Proposal Goes Live
- Trump Tariffs: White House Prepares Plan B as Crypto Market Awaits Supreme Court Ruling
- Michael Saylor’s Strategy Hints It Will Keep Buying Bitcoin, Citing 2022 Bear Market Playbook
- WLFI Price Soars 17%: What’s Fueling the Surge?
- Dogecoin Price Eyes $0.2 Rally Ahead of Grayscale’s NYSE ETF Debut on November 24
- Crypto Market Eyes Major Rebound as Fed Rate Cut Chances Rise to 71%
- Dogecoin Price Finds Support: Can the 21Shares & Grayscale DOGE ETFs Spark a Surge?
- Will Solana Price Crash Under $100 as Crypto Market Signals Further Downside?
- Ethereum price Drops Below $2,700 as US Jobs Data Hits Rate-Cut Hopes
