Bitcoin Craze: People are Exchanging Expensive cars in South Africa

In a high stakes bitcoin craze, South Africans are now swapping high value items including cars, boats and bikes.

This is according to Gumtree, an online classified site. “Many sellers are willing to take a gamble with their assets in hopes of a large pay-out,” the group said.

This craze comes on the back of Bitcoin’s continued rise in value, evidenced by the lottery-sized payouts that those who adopted bitcoin early, have recently benefitted from, having seen Bitcoins value surge in 2017.

Furthermore, Gumtree also reported that this sale high value items such as vehicles in South Africa, is ‘on trend with other market places.”

As of present, the cars that are on sale as exchange for bitcoin include a rare 1970 made Mercury Cougar V8 and a BMW X5.

Also, in the United States a McLaren 720S was put up for sale in exchange for 25 bitcoin – which theoretically translate to value of $425, 000.