The Puerto Rican technology company Bots Inc (OTC: BTZI) makes Dogecoin (CRYPTO: DOGE) on a payment option for buying used Teslas.
According to the company’s press release, it has enabled local car dealerships to accept DOGE and other cryptocurrencies as payment.
Bots said it moved to offering Dogecoin merchant services after seeing demand from car dealers and manufacturers.
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Why it matters
After the crypto boom in 2020, auto dealers reportedly realized that the rising popularity of cryptocurrencies like Bitcoin (CRYPTO: BTC) and Dogecoin was an opportunity to reach new customers.
In addition, the prices of used cars have risen rapidly over the same period, due to the global shortage of microchips, which is leading to production cuts.
For example, automotive research site iSeeCars.com found that a new Model 3 retails for $ 44,409 on average, while a lightly used version retails for $ 45,677.
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“Buyers are willing to pay more for a used Tesla Model 3 because the Model 3 is still relatively rare in the used car market. And despite the high resale value of its used versions, it’s the most affordable Tesla on the market, ”iSeeCars Executive Analyst Karl Brauer told the Observer.
Last month pointed Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said the company could soon be accepting Bitcoin again as a means of payment for its electric vehicles.
“I would like to take a little more care to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend to increase that number. If so, Tesla will start accepting Bitcoin again, ”he said.
Until then, used car dealers who want to offer their customers the option of using cryptocurrencies for their purchases can do so with the dealer services of bots.
Course development: At press time, Dogecoin was trading at $ 0.2984, down 6.39% over the past 24 hours.
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