Old Road Harley-Davidson of Santa Clarita, which is now accepting a new type of digital currency, recently sold what is believed to be the first Harley ever bought with cryptocurrency, according to a report in The Signal. Bitcoin is a digital, global currency that allows users to securely send or receive money across the internet.
“We know it was the first Harley in the United States, and perhaps in the world, bought via Bitcoin,” Mike Moffett, president of Old Road Harley-Davidson, told Santa Clarita Valley TS reporter Patrick Mullens.
Transactions are encrypted and secured and then linked to previous transactions and passes on the records in blocks to computers around the world. The data in any given block cannot be altered without altering all subsequent blocks, which requires the cooperation of participants across the network.
“By accepting Bitcoin and getting the word out, we’re reaching another audience that we might not otherwise reach,” Moffett said.
“I talked to a couple of car dealers that accept Bitcoin, Lamborghini Newport Beach and Overland Park Jeep Dodge Ram Chrysler in Kansas, and they shared what they know. Then we signed up with BitPay, which converts the Bitcoin amount into dollars, so the transaction is seamless.”
Once they were set up to accept Bitcoin, they put the word on Reddit, the social news and discussion site, and within a week a customer came in and used the digital currency to buy a motorcycle.