Yesterday Elon Musk announced that Tesla would no longer accept Bitcoin as payment for their products, This came as a bit of a shock as it was only earlier in the year they announced they would accept BTC as payment as was seen by the world as taking Bitcoin mainstream, acquiring $1.5 Billion in BTC themselves.
While Elon Musk is not saying that he is selling Tesla’s Bitcoins, they are just not accepting it for future payments.
We know of some recent domain name sales such as James Booth, selling James.com just this week for $400,000 USD in the equivalent of BTC, which took a 5% drop since that date.
I’m not here knocking Crypto any payment apart from cash is always at risk and most investors, do look at the longer-term view vs short term view when accepting alternative methods of payment, i.e. we know about Rick taking shares in return for Candy.com domain name sale plus cash and that turned out to be very lucrative in the longer term, while BTC is down from its recent highs that $400K could be worth $450K or $500K by the end of the year should it turn around…
So my question to you is would you still accept Bitcoin or other Cryptocurrency for domain names?