General Motors (GME) CEO: “No Plans to Invest in Bitcoin” But will Evaluate Accepting it as Payment


Ever since electric vehicle company Tesla announced that it had purchased $1.50 billion worth of Bitcoin, everyone wants to know which company will be the next to make the same decision.

Already publicly-listed, Square and MicroStrategy have done so. As we reported, even Twitter is considering adding Bitcoin to its balance sheet, but the company hasn't made any changes yet.

So, it was only natural that people want to know if General Motors (GM) is considering the same as the company reported its fourth-quarter earnings that beat Wall Street expectations.

However, GM has no plans as such.

General Motors CEO and Chairman Mary Barra said the automaker has no plans for investing in Bitcoin. The silver lining here is that the company will be monitoring customer demand regarding accepting cryptocurrency to pay for its vehicles and services.

The company reported revenue of $37.5 billion, more than the expected $36.12 billion. GM is planning to accelerate its all-electric and autonomous vehicle development and rollout. “We are investing in the business,” Barra said.

“We see tremendous growth opportunities and we’re also accelerating EVs; $7 billion alone of the $9-$10 billion is focused on EV/AV. So we see tremendous opportunity there.”

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