While the Chinese government wants nothing to do with Bitcoin, a Lamborghini dealership in Costa Mesa, California, has enough faith in the digital currency to begin accepting it as legal tender. That move would be impressive enough for a "regular" car dealer; for one that sells cars that average $200,000 USD, it's quite notable.
The dealer, Lamborghini Newport Beach, hasn't only made it known that it's begun accepting Bitcoin, but it also confirms via a website post that it's already concluded its first sale. While no Lamborghini changed hands in this particular deal, a Tesla Model S Performance did, a car which retails for about $100,000 USD.
Lamborghini Sesto Elemento
As Bitcoin values change all the time - even during the short time a business transaction like this would be made - we'd imagine that the payment here was instantly converted into USD via a service, which means the risk to the dealer is quite low, or nonexistent. In effect, it wouldn't matter if Bitcoin suddenly became useless right after the transaction, because the dealer would have had it converted into USD already.
It's been a rather incredible year for Bitcoin, with values going up regularly (except today, after the Chinese government story broke), and more and more businesses accepting it as currency. Last month, we discovered that Virgin Galactic would accept Bitcoin for space flights, and at the start of November, a handful of Bitcoin ATMs were launched in major Canadian cities.
Am I the only one who's regretting not taking Bitcoin more seriously a couple of years ago?