General Motors may follow Tesla to accept Bitcoin (BTC) payments

3 mins read
General Motors may follow Tesla to accept Bitcoin (BTC) payments

General Motors could be gearing up to accept Bitcoin payments or its vehicles. Although nothing concrete has been announced, the company’s recent survey about the possibility of the use of Bitcoin (BTC) by its customers revealed a lot.

If this becomes a reality, it will be the second car company to accept Bitcoin payments after Tesla opened its doors for Bitcoin last week. It would also make a huge statement towards the massive adoption of Bitcoin if its customers are allowed to purchase their favorite brand of car using Bitcoin.

The news is still a speculation

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While General Motors has vehemently denied having any plans to go into Bitcoin investment, the company may be rooting for the adoption of the cryptocurrency for payments.

Last month the company’s Chief Executive Officer Marry Barra, categorically denied having any investment interest in Bitcoin. Barra was asked whether the company has plans to hold Bitcoin, given that several high-profile companies are now doing so.

 “We don’t have any plans to invest in Bitcoin, so full stop there.” She stated. But she added that the company will be monitoring and evaluating the interests of clients when it comes to using digital currency s a method of payment.

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New to Bitcoin but not new to Blockchain

General Motors is one of the biggest car manufacturers in the world. The company has always gone through several protocols and processes before introducing something new to its market. While its interest in Bitcoin is still not clear, the car maker understands the importance of blockchain technology, from which Bitcoin was developed.

General Motors has already started patenting blockchain uses for driverless automation and security information. It may not be surprising to many observers if the company eventually adopts Bitcoin. The news about General Motor’s interest in Bitcoin has not had any severe impact on the price of the cryptocurrency. The price of Bitcoin is still fairly stable at the moment, and it’s not clear where the price will be headed.