Post Oak Motor Cars and NYDIG announced their partnership integrating Bitcoin Services throughout the Luxury Auto Dealer. The partnership gives businessman Tilman Fertitta’s Post Oak Motor Cars the ability to sell luxury vehicles through bitcoin-backed loans.

For clarity, Post Oak Motor Cars offer Bentley, Bugatti, Karma, Rolls-Royce dealership in Houston, TX

“Post Oak Motor Cars, a Tilman Fertitta company and home to Houston’s only authorized Bentley dealership, Texas’ only Bugatti dealership and the Gulf Coast’s largest authorized Rolls-Royce dealership has been named North America Dealer of the Year 2020.”

Tilman J. Fertitta, is the Chairman, President and CEO of Landry’s Inc. a Houston native, is an accomplished businessman and recognized as a world leader in the dining, hospitality, entertainment and gaming industries.

NYDIG is a bitcoin company that’s fusing high tech with institutional-grade finance to usher in a new era of financial products. We make it easy for partners to white label our solutions and create their own products like bitcoin accounts, rewards, and loyalty programs.

NYDIG are building an inclusive financial system that makes Bitcoin a universal option for billions of people worldwide. Bitcoin is a resource for human progress, and NYDIG is the gateway. NYDIG are focused on unfolding Bitcoin potential in different sectors like Banking, Fintech, Investment Management, Insurance, Corporations, Mining, and non-profits.

Bitcoin-backed loans are methods to increase the stacks of Bitcoin without selling.  The crypto deposits—which earn higher-than-average interest rates—are used to fund loans to borrowers who pledge crypto as collateral. These loans take many forms. Borrowers can get dollars or other traditional currencies, or stablecoins pegged to them, depending on the lender they are working with.

Community response:  I’m curious how this process would work. The article references that the product does not require customers to make any interest payments during the entirety of the term.

If it works like Unchained Capital’s loan product, you don’t make payments, but the interest accrues over time. At the end of the loan, assuming Bitcoin’s NGU, you can pay it off in full with a smaller portion of your Bitcoin or just roll into another loan. Been like that at least for a few months.

Bitcoin holders who don’t want to sell their bitcoin will be able to access a portion of its value by borrowing USD using the bitcoin as collateral. The product does not require customers to make any interest payments during the life of the loan.

So, I can mortgage my BTC to buy more BTC? Than BTC goes more up and I can take another loan and buy more repeat.

We need more employers to give their employees an option to get paid in BTC. Cars are boring, real estate is interesting.