Ferris Cars made history in mid-April when it became the first car dealership in South Africa to sell a car directly in exchange for Bitcoin.
It wasn’t just any car, but an immaculately presented Ferrari California.
Other buyers have followed suit.
Bitcoin or cryptocurrencies transactions do not require approval from any third-party institution or government authority.
All cryptocurrency transactions concluded are legal in South Africa and no taxable event occurs. All transactions are FIC and SARS compliant, though.