Bitcoin Tesla Model S purchase adds legitimacy to currency
Both sides of the Bitcoin war appear to be making giant strides toward winning out – either dismissing the coin entirely, or making it more acceptable to use with big purchases. Today a Lamborghini dealership in Newport Beach has announced that a purchase has been made from them in the form of a brand new Tesla Model S. This electric vehicle was the first in a line of Bitcoin purchases from the dealer: they'll be accepting Bitcoin from this point forward.
Though the currency has seen some major changes over the past year – especially in the past several weeks – Lamborghini Newport Beach is making a stand here today. They've made clear that they trust the coin and that they're working with exchanges they're fully confident in to buy and sell Bitcoin for all purchases.
This dealership states in their own way: "Bitcoin is an open source person-to-person electronic tender that uses cryptography to secure transactions." In the past several days, a single Bitcoin's worth has fluctuated by several hundred dollars. Before China's central bank decided the currency wasn't acceptable, the coin was well above $1,200. It subsequently plummeted to around $900, and is now sitting at around $945 according to Mt. GOX.
This week was also home to former U.S. congressman Ron Paul suggesting with CNN that "There will be alternatives to the dollar, and this might be one of them." Paul went on to suggest that, should people start using Bitcoin in a big way, "it'll go down in history as the destroyer of the dollar."