A luxury machine dealership in Nevada has reported a steady increase in Bitcoin (BTC) payments, a testament to the bull market currently underway equally more investors catechumen their holdings into high-finish sports cars.

Vegas Auto Gallery, whose inventory includes makes and models from Aston Martin, Bentley, Ferrari and Lamborghini, recently sold 2 high-end sports cars to customers who paid more than $six meg in BTC. As the Wall Street Journal reports, owner Nick Dossa says that roughly 3% to five% of the dealership's revenue comes from Bitcoin transactions.

The dealership isn't accepting Bitcoin payments outright, but through BitPay, a third-party payment provider. BitPay transactions settle BTC payments in U.Due south. dollars upon receipt. In the instance of Vegas Auto Gallery, a i% fee is applied to all Bitcoin purchases, which is equivalent to BitPay's transaction fee.

Dossa told the Journal that his dealership isn't exposed to whatever additional run a risk by accepting Bitcoin payments. "It's a very easy transaction," he said.

Although Bitcoin has been criticized for lacking payment channels, BitPay has onboarded hundreds of thousands of merchants worldwide, giving Bitcoin buyers plenty of ways to spend their BTC.

The Lamborghini became the ultimate status symbol during the 2017 Bitcoin bull market. The contempo foot traffic into Vegas Machine Gallery suggests that wealthy Bitcoiners are already splurging following the latest surge in toll.

Bitcoin returned to tape highs on Midweek after clearing the $28,500 hurdle. The cryptocurrency's market capitalization passed $500 billion final week for the first fourth dimension in history.

Vegas Auto Gallery did not immediately reply to a request for annotate.