Mahindra Hints At Buying Automobiles With Bitcoin In India

Mahindra Group Chairman Anand Mahindra on Thursday stated folks would possibly quickly be capable of purchase Mahindra vehicles with Bitcoin. While the crypto panorama stays unsure in India on account of strict regulatory pressure and tax burden, buyers and firms proceed to discover the crypto market.

Anand Mahindra replied to a tweet on whether or not Mahindra automobiles could be bought with Bitcoin. He stated 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 should purchase a automobile with Bitcoin or different cryptocurrencies.

Not but. But perhaps little by little sooner or later.. https://t.co/pQS0ZQ52Qf

— anand mahindra (@anandmahindra) April 20, 2023

Mahindra Group’s Crypto and Blockchain Presence

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

Mahindra Group of firms are extra inclined in direction of crypto and blockchain. Tech Mahindra has entered the blockchain and metaverse area, main the developments amid rising potential of those future applied sciences. Kotak Mahindra Bank turned one of many first banks to open its doorways to the crypto market in India.

Anand Mahindra was additionally rumored to be making tens of millions by investing in Bitcoin. However, he dismissed all reviews 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 price.

Leading car firms comparable to Audi, BMW, Mercedes, and Porsche settle for Bitcoin. Tesla additionally accepted Bitcoin for Tesla automobiles however discontinued its program in 2021. However, Tesla holds Bitcoin value $184 million on its stability sheet.

Also Read: Coinbase (COIN) Shares Under Selling Pressure After Bermuda Expansion

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his information about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency business for a considerable interval and is presently overlaying all the newest updates and developments within the crypto business.

The offered content material could embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.