Electric vehicle manufacturer Mullen Automotive has started accepting Bitcoin and the TRUMP meme coin as payment methods, joining a number of other automotive brands.
Acceptance of Cryptocurrency for Vehicle Purchases
Mullen Automotive announced the option to use cryptocurrency, including Bitcoin and the $TRUMP meme coin, to purchase both passenger and commercial electric vehicles. Additionally, the company plans to expand the list of accepted cryptocurrencies to include popular meme coins and stablecoins.
Industry Response to Cryptocurrency
Mullen Automotive's CEO, David Michery, stated that "the increasing acceptance of cryptocurrency as a form of payment expands Mullen’s ability to deliver its product to a broader audience at the commercial and consumer levels." This statement highlights the growing role of cryptocurrencies in the automotive industry.
Future of Crypto in the Automotive Industry
With multiple US states, including California, implementing laws to accept Bitcoin payments, automotive manufacturers may begin adapting to these changes. Tesla, which previously accepted Bitcoin, has not yet reinstated the option to pay with this cryptocurrency, but will face pressure from consumers and investors who are anticipating the return of crypto payments.
Thus, Mullen Automotive is becoming one of the leading companies accepting cryptocurrencies as a form of payment, which may promote further spread of crypto among automakers.
