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Monday, September 10, 2018

In Cleveland, You Can Now Buy a Luxury Car with Bitcoin

Posted By on Mon, Sep 10, 2018 at 10:50 AM

click to enlarge Frank's Fat Cat Festival Protest (6/28/17) - SAM ALLARD / SCENE
  • Sam Allard / Scene
  • Frank's Fat Cat Festival Protest (6/28/17)
In a press release Monday, local luxury car dealer Bernie Moreno announced that his dealerships will now accept Bitcoin and other cryptocurrencies for vehicle purchases and service payments.

"Giving clients more options is essential to great customer service," said Moreno, in a statement. "We are thrilled to be able to expand that flexibility to how our clients make payments."

The release notes that Bernie Moreno Companies (BMC) is the first Mercedes-Benz and Porsche dealerships in North America to accept Bitcoin, Ethereum, Litecoin and other cryptocurrencies. The new payment option is effective immediately.

Moreno is at the forefront of the local Blockland initiative. In only a few months, he has lassoed the region's top business and philanthropic leaders into an improbable collaborative effort to make Cleveland the "national epicenter" for all things Blockchain. Among other things, a blockchain conference has been planned for early December and a capital stack has been assembled to finance the "largest technology hub in the world." 

Moreno is Blockland's progenitor and Evangelist-in-Chief, and with this announcement appears to be putting (more of) his money where his mouth is in the hopes of making the region a hospitable place for not only blockchain developers, but users of its applications.

Moreno says that car purchases will be able to happen "with a tap on [one's] smartphone screen." Customers will be able to transfer the electronic cash from their "digital wallet" to BMC at the current exchange rate. Moreno says that BMC will charge no fees for using digital currency.

"A car buyer using Bitcoin to purchase a vehicle – where else but in Blockland?" said Moreno.

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