It has been reported that Williams announced on Twitter that he sold his 2007 Chevrolet Suburban for 0.4 BTC, worth around $7,300.
However, according to car shopper website Edmunds.com, a used 2007 Suburban costs around $7,000, while the new 2021 model costs over $50,000.
Sold it for 0.4 BTC fwiw. Feels like I may have done well. We will see. https://t.co/nMUm2AfkAp — Jason A Williams (@GoingParabolic) November 19, 2020
The report said that if the Bitcoin price breaks $130,000, as some have predicted, there’s a chance Williams will have sold his 13-year-old car for as much money as a brand new model.
Morgan Creek Digital co-founder sells his Chevy for Bitcoin https://t.co/R5pugvSBX2 pic.twitter.com/XbYa2P8DOA — Crypto Trader Pro 🇺🇸 (@CryptoTraderPro) November 20, 2020
Despite publicized instances of celebrities and businesspeople transacting in crypto, Bitcoin use for payments is still relatively low, and many have criticized the coin for being a poor means for payment.
Likewise, in a recent blog post Fidelity Digital Assets aimed to dispel this notion by suggesting that the Bitcoin network’s decentralization and immutability were a worthy trade-off.
Thus, major payments-related firms are finally getting on-board with the seminal cryptocurrency.