Billionaire entrepreneur and business tycoon Tilman Feritta recently announced via Twitter that his Post Oaks Motor Cars company will now accept Bitcoin (BTC) and Bitcoin Cash (BCH) as payments. Notably, Feritta’s luxury vehicle company has now become the first Rolls Royce, Bentley Motors, and Bugatti dealership to accept cryptocurrencies as payment.
Exciting news! My Post Oak Motor Cars at @PostOakUptown is the first @RollsRoyce, @BentleyMotors and @Bugatti dealership in America to accept @Bitcoin and Bitcoin Cash for payments. #bitcoin #BitcoinCash #luxurycars pic.twitter.com/AXPIcsx7up— Tilman Fertitta (@TilmanJFertitta) September 5, 2018
With a massive fortune of over $2.4 billion, Feritta also owns the National Basketball Association’s (NBA) Houston Rockets - a team that made it to the 2017-2018 NBA Western Conference finals, but then lost to the the Golden State Warriors, the defending champions.
An excited Twitter user yami1900 commented:
“We love bitcoin cash. We love Rockets. Wish one day I can buy Rocket tickets with BCH.”
Twitter user ListenToWhatISay praised Feritta for accepting BTC and BCH payments, while also recommending that the business tycoon start accepting Ether (ETH). Other Twitter comments included people suggesting that Litecoin (LTC) and Ripple (XRP) be accepted as well, while one user suggested that Houston Rockets’ players should get paid in cryptocurrency.
Crypto Awareness, Interest Growing
In addition to owning the Houston Rockets basketball club and Post Oaks Motor Cars, Feritta is the chairman of the University of Houston (UH) System’s board of regents in Texas. The UH System owns the public television station (KUHT) and manages four large universities in Texas which are attended by over 70,000 students.
Holding these key positions might make it ideal for Feritta to encourage the mainstream adoption of cryptocurrencies. As CryptoGlobe reported in August, university students in the US are very interested in digital currencies. In fact, research firm Vectra reported that it had found many college students mining cryptos to help them generate “passive income.”
Facilitating Mainstream Cryptocurrency Adoption
In addition to potentially playing an influential role in increasing crypto awareness and adoption on college campuses, Feritta could possibly begin accepting digital currency payments at his numerous restaurants. Notably, he is the sole owner of Landry’s Inc., one of the world’s largest restaurant corporations.
While cryptocurrency prices are down considerably this year, and have dropped even more recently, it appears that accepting crypto payments may become a lot easier. As covered, 100,000 crypto Visa debit cards will reportedly be issued by Crypto.com, a Hong Kong-based blockchain startup.
If using cryptocurrencies can become easier and more user-friendly, then it’s quite possible that their prices could begin to recover in the long-term.