Major Canadian Car Dealer to Accept Bitcoin

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Tue, 03/02/2021 - 15:14
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Alex Dovbnya
Cryptocurrency payments will be accepted by Canadian dealership HGreg
Major Canadian Car Dealer to Accept Bitcoin
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Quebec-based car dealer HGreg has announced that it will start accepting cryptocurrencies in a press release.

HGreg president John Hairabedian expects the bold move to improve clients' shopping experience:

Our desire to constantly evolve and improve our customers' shopping experience inspires us to make bold decisions. Providing them with a greater variety of payment methods is part of it.

The new payment method has already been put to the test with a few transactions.

HGreg—which allows its clients to buy cars on its website—is one of the fastest-growing companies in Canada. The car dealer opened its first U.S. store in Dora, Florida, back in 2010. It currently boasts 30 franchised dealerships across North America.

The company will keep a portion of its cryptocurrency revenue as an investment.

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More car brands get behind Bitcoin

As reported by U.Today, e-car manufacturer Tesla also mentioned that it would start accepting Bitcoin for car payments while disclosing its $1.5 billion investment into the cryptocurrency on Feb. 8.

Recently, Italian supercar manufacturer Mazzanti also made it possible to buy its Evantra supercar with the largest cryptocurrency.

In an interview, Houston billionaire businessman Tilman Fertitta revealed that his dealership had sold 17 luxury cars to customers over three years:

Tesla taking it is much more important than me taking it, but believe it or not, we've sold 17 cars—Bentleys and [Rolls-Royces]—with Bitcoin.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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