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28 Oct, 2021
Tilman Fertitta's auto dealership partners with NYDIG for bitcoin-backed financing

  • A luxury auto dealership owned by billionaire Tilman Fertitta enters a partnership with bitcoin firm NYDIG that lets Post Oak Motor Cars customers finance their auto purchase with loans secured by bitcoin (BTC-USD).
  • NYDIG is also enabling POMC to use its appreciated bitcoin treasury holdings to finance a new expansion and POMC's employees to allocate a portion of their paychecks to bitcoin (BTC-USD).
  • Bitcoin holders who don't want to sell their bitcoin will be able to access a portion of its value by borrowing U.S. dollars using the bitcoin (BTC-USD) as collateral. The product doesn't require customers to make any interest payments during the life of the loan.
  • Fertitta is also the chairman, CEO and owner of Landry's, which started in restaurants, then expended into hotels and casinos. The company bought Golden Nugget casinos in 2005. He also owns the Houston Rockets NBA team.
  • Bitcoin (BTC-USDrises 3.1% over the past 24 hours to break back above $60K, after falling to as low as $57.5K in midafternoon trading New York time.