BOTS Inc (OTCMKTS:BTZI) Stock Jumps After Big News
Global Technology company BOTS Inc (OTCMKTS:BTZI) is enabling people to purchase Tesla electric vehicles using digital currency. Focusing on blockchain-based solutions, the company on August 16, 2021, announced the commencement of local car dealerships with a fresh service, enabling them to take Dogecoin as well as cryptos for buying preowned Tesla models.
In March 2021, Elon Musk announced accepting bitcoin as an acceptable mode of payment but in May, Musk said that Tesla can add dogecoin to the payment options, leading to a 20% stock surge but backed down because of environmental concerns.
A recent study demonstrates scarcity of microchips globally making carmakers limit production, leading to an increase in used car prices. Estimates suggest that the used Tesla Model 3 is 3% more valuable than a new factory Model 3.
A lightly used Tesla Model 3 sedan costs an average of $1,300, according to a study by the automotive research site iSeeCars.com analyzing more than 470,000 used and new cars from the 2019 and 2020 model years listed for sale in June 2021.
Katrin Zimmermann, a managing director at TLGG Consulting, said that the used car market is doing very well currently and EV adoption continues to thrive. Billionaire entrepreneur Mark Cuban claims that dogecoin is the most robust cryptocurrency as a medium of exchange. A report by Allied Market Research on the global used cars market pegs it at $828.24 billion in 2019, which is estimated to grow to $1.355 trillion by 2027.
