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Shiba Inu and Dogecoin Now Accepted by Porsche Dealer

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Tue, 04/19/2022 - 19:10
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Alex Dovbnya
Baltimore-based Porsche dealer Porsche Towson has announced a partnership with BitPay
Shiba Inu and Dogecoin Now Accepted by Porsche Dealer
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Porsche Towson, Baltimore's only exclusive Porsche center, has partnered with cryptocurrency payment processor BitPay in order to accept digital assets, according to an announcement made earlier this Tuesday.

Notably, the dealership, which offers both new and used Porsche cars, now accepts Dogecoin and Shiba Inu, the two most popular meme coins, on top of more conventional cryptocurrencies such as Bitcoin.

Last March, BitPay processed a total of 76,583 payments. As of January, Bitcoin accounted for more than half of the company’s transactions.

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Back in 2013, a family in Austin made headlines after selling their 2007 Porsche Cayman S for 300 Bitcoins ($12.4 million at the time of writing). Since then, various car dealerships around the world have embraced cryptocurrencies.     

Earlier this month, Dutton Garage, one of the world's top retailers of exotic and rare cars, started accepting 30 cryptocurrencies in partnership with Australian exchange CoinSpot.

Last year, Porsche joined the non-fungible token craze by launching Fanzone, a platform for trading NFTs.

In 2018, it also became the first automaker to start testing the blockchain technology as part of its pilot project with Berlin-based start-up XAIN.

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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.