A Bitcoin Cash (BCH) YouTuber has promised to buy 111 Tesla Model 3s … but only if Tesla CEO Elon Musk agrees to accept BCH for Tesla purchases from now on.
Entitled “1stmil.com”, the Australian YouTuber explained to nearly 8,000 followers on three short videos that he believes Tesla would see a boost in sales as a result as there are many Bitcoin Cash supporters looking to spend their cryptocurrency while Bitcoin (BTC) supporters tend to want to hold on to their holdings.
“You’re going to get an incredible amount of support from people who really want to spend Bitcoin Cash, not from the people who just want to HODLEN the BTC.”
In late March, the Bitcoin Cash community was shocked to learn that BCH had not been added as a payment option when Elon Musk confirmed that US customers could buy a Tesla with BTC.
The day after this public rejection, BCH hit new lows against Bitcoin of 0.089 BTC.
It’s unclear if this latest BCH offering is just a publicity stunt by the YouTuber who’s been hosting his channel for three years now. 1stmil’s ability to pay for 111 Telsas is also an open question as the wallet shown in the first video only holds about $ 141,000 in BCH, or enough to buy just three Teslas. On Reddit, he clarified that for security reasons, he deliberately did not want to reveal his other wallets.
Hahah !! Oh man I’m laughing out loud at this guy’s genius: https: //t.co/0ZaEWqwZp2
– Colin Talks Crypto (@COLINTCRYPTO) April 21, 2021
In previous videos, he alludes to already owning several million dollars in crypto, predicting that he will make $ 1 billion when BCH reaches $ 50,000 in 2025. If true, that would mean he will have at least $ 14.88 million in BCH owns at current prices.
The cars he wants to buy, the white Tesla Model 3s, are currently selling in Australia for around $ 52,000. Without the volume discount, this would amount to an initial purchase of $ 5.8 million.
He said he plans to use the Tesla EVs for a new business project, details of which he cannot yet disclose. However, on Reddit he explained that the cars will be gutted and reused: “Let’s just say Tesla Model 3s are sold below cost in Australia. Their parts are worth more than their sum. “
This isn’t the first time BCH advocates have brought crypto to Elon Musk’s attention. On March 25, in response to Musk tweeting that “You can now buy a Tesla with Bitcoin,” Kim Dotcom compared the BCH and BTC fees, saying the former “serves the mass market, not just the 1%.”
– Elon Musk (@elonmusk) March 25, 2021