The boss of an online marketplace which allows dealers to advertise vehicles to cryptocurrency users has made what is believed to be the first UK motorcycle sale in Bitcoin.
Luke Willmott, co-founder and chief operating office of AutoCoinCars, said he had helped partner dealership Church’s Performance Cars, near Redhill, sell a Suzuki GSXR1000, a Ducati Panigale V4S and a Honda CBR1000RR Fireblade.
It comes soon after the online marketplace, which has more than 850 dealerships using its platform, sold its first Ariel Atom in Bitcoin in a deal worth £64,995.
The sale of the three high-powered bikes for £38,000 came after the client spotted one on the AutoCoin website.
Mr Willmott said: “We completed the world’s first ever Bitcoin transaction for an Ariel Atom last month and now this is another first in terms of the UK and motorcycles.
“Bitcoin is known for the “When Lambo?” memes, which are always good fun but we’ve had the Ariel Atom and now the bikes, so it goes to show that cryptocurrency is becoming more and more commonplace.
“The dealerships we have on our platform are all leaders in their field in terms of their product offering but they are also laser focused on customer service.
“That increasingly means offering cryptocurrency as an option, which Ryan and his team at Church’s Performance Cars have been quick to spot.
“We now have over 850 dealerships on our platform as more and more people seek the flexibility of buying with cryptocurrency. There has often been criticism of cryptocurrency in that it is not tangible.
“However, we can now help people to unlock the potential of their portfolio by converting their Bitcoin into physical assets and we’re delighted to be part of this UK first.’
Ryan Thorpe, head of sales at Church’s Performance Cars, said: “The idea that you could sell or buy a motorbike with cryptocurrency might have seemed like science fiction when we first began trading.
“However, we are service led and dealing in cryptocurrency is part of that equation for a growing number of our clients. Indeed, this particular client came to us purely because he was seeking a Bitcoin-based transaction and found us via AutocoinCars so that is very interesting.
‘We are excited to be leading the field with these transactions and suspect that it will lead to many more enquiries now that the first deal has been brokered.
“We are all very proud of what we’ve just achieved, which was made possible thanks to our partnership with the team at AutoCoinCars.”
Cryptocurrencies have had a torrid time in recent months with Bitcoin worth around a quarter of what it was a year ago, while FTX, the third-largest cryptocurrency exchange, recently had to seek bankruptcy protection after racking up with billions of dollars of losses.
