As tech giants from other industries adopt Bitcoin, others who have remained silent may soon join the trend. One of such industrial giants that may soon adopt Bitcoin as a mode of payment is General Motors. While the company hasn’t announced it yet, many BTC investors are patiently waiting to see its impact on Bitcoin.
The expectation of Bitcoin adoption by GM started during the company’s fourth-quarter earnings call. Someone asked a question about the possibility of General Motors accepting Bitcoin. The GM CEO Mary Berra responded in a way that ignited the interest of Bitcoin investors.
The exchange, which occurred on the 10th of February between Barra and Adam Jonas, an analyst at Morgan Stanley, appeared in a blog post.
General Motors on Using Bitcoin As Payment Method
According to a transcript that SeekingAlpha.com posted, Adam asked Marry Barra if General Motors will join other big companies like Tesla to hold Bitcoin as a way of diversifying its cash reserves or even to accept it for the payment of automobiles. Adam also stated that getting a $45,000 BTC is a good deal for a car and asked the CEO what she thinks about it.
In response, the CEO mentioned that she’s not interested in Bitcoin investment. However, if the company will accept it for automobile purchases, they’ll first monitor and evaluate it. If there’s high customer demand to use Bitcoin as payment, nothing will stop them from accepting it.
However, Mary Barra was not elaborate in response to Adam Jones. But if such an adoption must occur, the CEO will change the relationships the company has with dealers since they’re in charge of the retail transaction.
After the exchange, there were reports that an automobile dealer has been accepting bitcoin from its customers as payment. The report stated that this has been going on for many years.