The American automaker could follow Tesla’s lead and start accepting bitcoin as payment. However, General Motors must first estimate the demand.
Tesla was the first automaker to officially adopt Bitcoin as a way to buy a car. This was confirmed the other day by Elon Musk, when he tweeted the following: “Now you can buy Tesla with bitcoins.” It’s probably too early to predict, but it looks like other auto companies will soon join Tesla.
General Motors has yet to make a decision, although it has admitted that it will assess whether Bitcoin payments are interesting to customers. While the manufacturer has no plans to invest in bitcoin, CEO Mary Barra said GM will track customer demand for cryptocurrency as a way to pay for vehicles and services.
“We have no plans to invest in bitcoin, so stop there,” Barra told reporters during GM’s fourth quarter report last month. “This is what we will track and evaluate. If in the future there will be a great demand for it from buyers, nothing will prevent us from doing it. ”
That is, General Motors is open to the idea of accepting bitcoin as an official payment method. According to Reuters, the automaker will assess the situation based on demand. Elon Musk did not provide details on the bitcoin payment methodology. He said that the bitcoins paid by Tesla will not be converted to traditional currency and the company will use “internal open source software” to process payments. Tesla announced about $ 1.5 billion in Bitcoin investments last month.