Mahindra Hints At Buying Automobiles With Bitcoin In India

Mahindra Group Chairman Anand Mahindra on Thursday mentioned folks would possibly quickly be capable to purchase Mahindra cars with Bitcoin. Whereas the crypto panorama stays unsure in India as a consequence of strict regulatory stress and tax burden, buyers and corporations proceed to discover the crypto market.

Anand Mahindra replied to a tweet on whether or not Mahindra automobiles might be bought with Bitcoin. He mentioned there could also be a risk to purchase Mahindra automobiles with Bitcoin sooner or later. It hints at a possible future when folks in India can purchase a automotive with Bitcoin or different cryptocurrencies.

Mahindra Group’s Crypto and Blockchain Presence

Bitcoin worth presently trades at 23.80 lahks (approx. $29,000). Mahindra’s high mannequin automobiles such because the XUV 700 value between 20-30 lakhs. As Bitcoin worth continues to rise, it can grow to be cheaper to purchase a automotive with Bitcoin.

Mahindra Group of corporations are extra inclined in direction of crypto and blockchain. Tech Mahindra has entered the blockchain and metaverse house, main the developments amid rising potential of those future applied sciences. Kotak Mahindra Financial institution grew to become one of many first banks to open its doorways to the crypto market in India.

Anand Mahindra was additionally rumored to be making thousands and thousands by investing in Bitcoin. Nonetheless, he dismissed all experiences claiming that he hasn’t invested a single rupee in cryptocurrencies.

Mahindra & Mahindra even collaborated with Tech Mahindra to launch its first batch of Mahindra Thar Superhero-themed NFTs. The Thar NFT was bought for document 11 lakhs, which is nearly equal to the Mahindra Thar value.

Main car corporations reminiscent of Audi, BMW, Mercedes, and Porsche settle for Bitcoin. Tesla additionally accepted Bitcoin for Tesla automobiles however discontinued its program in 2021. Nonetheless, Tesla holds Bitcoin price $184 million on its steadiness sheet.

Additionally Learn: Coinbase (COIN) Shares Underneath Promoting Strain After Bermuda Growth

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