California Dealership Sells First Bike for Bitcoins

At least one powersports dealer is accepting a new form of payment for motorcycles: bitcoins.

Old Road Harley-Davidson, a dealership in Santa Clara, Calif., sold a Harley-Davidson motorcycle to a customer using only bitcoins last month, according to a published report.

Bitcoin has been in the news a lot lately, particularly as car dealers continue to get on board with the digital currency.

The payment was processed by BitPay, a bitcoin payment processor.

“We know it was the first Harley in the United States, and perhaps in the world, bought via bitcoin,” Mike Moffett, president of Old Road Harley-Davidson, said in the report. Old Road Harley-Davidson first opened in 1965.

Bitcoin, a digital currency, allows people to securely send or receive money online. The currency has gained popularity for allowing people to exchange money without being linked to a real identity.

“I talked to a couple of car dealers that accept bitcoin, Lamborghini Newport Beach and Overland Park Jeep Dodge Ram Chrysler in Kansas, and they shared what they know,” Moffett said in the report. “Then we signed up with BitPay, which converts the Bitcoin amount into dollars, so the transaction is seamless.”

Americans are open to investing in, or at least learning more about bitcoin, according to Powersports Finance‘s sister publication Bank Innovation. However, a number of consumers are also growing more open to using the cryptocurrency for transactions and to make purchases.

The attractiveness of bitcoin as a currency varied by age range, according to a September LendEU survey. Out of 1,000 customers surveyed, 48% of 18- to 24-year-old consumers said they would be open to the concept, compared to just 30% of 45- to 54-year-olds. A majority, or 53%, of 25- to 34 -year-old consumers said “yes” to the possibility of using bitcoin for purchases.

Presently, a single bitcoin is worth $10909.8 as of 11.30 AM today.  But millennials don’t trust that digital currency more than traditional banks yet, according to Bank Innovation. Only 27% of millennials think bitcoin is more trustworthy than incumbent banks like JPMorgan Chase, Wells Fargo & Co., and Goldman Sachs, according to a November survey by venture capital firm Blockchain Capital.


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