While Elon Musk focuses his attention on Space X, Karma Automotive has decided to accept Bitcoin as a payment method
Karma Automotive, the main rival of Tesla, the company owned by Elon Musk, announced that “it is using its flagship store Karma Newport Beach, in California, to help expand the experience of its shareholders in Blockchain technology by accepting cryptocurrency (Bitcoin ) as a form of payment «.
This was reported by the BeInCrypto media, stating that the movement seems more than a simple trick, since Karma Automotive is a high-tech incubator, as well as a manufacturer of luxury electric cars.
According to Bitcoinist, new buyers and old customers can now use Bitcoin to buy new car models, as well as receive services. The offer, available thanks to an alliance with the Wanxiang Group, is part of the VIP options package at the car sales and service center.
Karma CEO Dr. Lance Zhou said:
“The Karma flagship store will support our efforts to test emerging technology and provide the latest offers to VVIP customers by accepting the Bitcoin cryptocurrency.”
According to Bitcoinist, BTC’s appetite has become from the boom over the famous “lambos” of the early days, to the novelty of electric vehicles. Those of Karma are also opening their platforms to test several Blockchain applications available in the automotive space, an industry that is preparing more and more in this technology.
BTC has proven to be immensely useful for large-scale purchases, says Bitcoinist. Real estate and luxury cars, as well as luxury items have been available to selected customers. Now, he adds, Karma brings BTC to its new location, among other luxury car stores near John Wayne Airport in Newport Beach, California.
According to BeInCrypto, Tesla is more focused on manned space travel when new and emerging high-tech efforts are involved. His famous boss, Elon Musk, recently announced that his other great company, Space X, will lead a manned space expedition in the first quarter of 2020.
If so, the media adds, it seems strange that Tesla has not made any move to officially accept Bitcoin and other cryptocurrencies before one of its biggest rivals.
Now, Karma Automotive has made the association of futuristic cars with innovative payment methods by calling this movement “the latest example of the brand’s commitment to VVIP customer treatment and illustrates how Karma is emerging as a high-tech incubator.”
BeInCrypto points out that Musk is a well-known Bitcoin believer, although not at the evangelist level, after admitting on Twitter to have only 0.25 BTC.
However, in a podcast interview, he was quoted as saying that Bitcoin is “pretty bright.” Also, in February, DiarioBitcoin reviewed some statements by Musk stating that Bitcoin “could displace cash.”
For its part, BeInCrypto added, the Bitcoin mining reward will be reduced by 50% in May 2020 and, if history repeats itself, the period before that event could cause the currency to skyrocket in the price.