The auto dealer HGreg, one of the largest inventory of vehicles in Canada will accept cryptocurrency payments for the purchase of new or pre-owned vehicles this month, is becoming one of the first automotive groups to accept cryptocurrencies in its day-to-day operations.
“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,” explains HGreg president, John Hairabedian. “We’re pleased today to be at the forefront of technology, giving our customers another payment option. We also believe it will be advantageous to keep some of our assets in cryptocurrency,” the company said in the press release on March 1.
HGreg sells a wide variety of used cars, from Hyundais to Lamborghinis. Crypto users can therefore use their funds to buy practical cars in addition to luxury vehicles.
Last month, Tesla, the world’s largest electric vehicle maker allocated 7.7% of its gross cash position to Bitcoin. In the process, the company announced it will begin accepting BTC for payment.
Read more:
- Tesla Bought $1.5 Billion In Bitcoin, BTC Price Hits $44.5K All-Time High
- With Real Interest Rates Trending Negative, Tesla’s CEO Elon Musk Believes Only A Fool Wouldn’t Seek Non-Fiat Investments