First Manufactured Car Bought With Bitcoin Would Be Worth $2 Million Now

A few years ago, an Australian businessman purchased a $31,000 Tomcar Ute with Bitcoin for his father. This was the first Bitcoin transaction in the Australian car industry.

According to the media release by Tomcar, educator and motivational speaker Jamie McIntyre introduced Bitcoin ATMs to Australia. He paid 102.0424 Bitcoins or AU $31,140.78 for the Tomcar as a present for his father who is a farmer. Recently, 101 Bitcoins were worth as much as $2.6 million AUD, making it an expensive Father’s Day present.

“I’m a huge supporter of Bitcoin as I believe it’s a disruptive technology that can reshape the banks’ dominance over the issuance of money,” said Mr McIntyre back in the day.

Mr McIntyre is still bullish on the future of Bitcoins and other cryptocurrencies. He believes Bitcoin’s value could go up to $100,000 per coin and even beyond. “Cryptocurrencies are an entire industry that can cover almost every industry with $180 billon market cap. $50billion of this is in cryptocurrencies outside Bitcoin already. That’s tiny to what it can become. Even a $1 trillion market cap is just the beginning”, he said.

“We’ve been a strong supporter of Bitcoin for a number of years as it allows overseas transactions with less fees and exchange rate fluctuations. This sale justifies our faith in the currency and shows that there are people out there who own Bitcoins and like to spend them,” said David Brim, CEO Tomcar Australia.

Tomcar Australia was the first car manufacturer in the world that accepted Bitcoin as payment in 2013.

 

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