Talk about a mix of the old and the new. Oklahoma-based Classic Recreations, known for rebuilding and updating vintage Ford Mustangs, now accepts cryptocurrency as payment. The company claims to be the first custom-car builder to do so.
Henceforth, Classic Recreations said it will accept multiple types of cryptocurrency “including, but not limited to,” Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Docademic. The company has set up electronic wallet addresses associated with each cryptocurrency, as well as the obligatory encryption software to ensure privacy. Customers will transfer funds from their own electronic wallets to the appropriate Classic Recreations wallet.
Jason Engel, the owner of Classic Recreations, believes cryptocurrency will allow the company to expand its customer base.
“My entire life I have had a strong fascination for technology and its evolution,” Engel said in a statement. “Cryptocurrencies have come a long way and continue to solidify themselves as a legitimate currency on the global market. The truck beauty of accepting cryptocurrency is the universal aspect of it which allows Classic Recreations to connect with consumers from anywhere in the world.”
The funny thing about accepting cryptocurrency is that Classic Recreations specializes in cars built decades before the creation of the internet. The company’s GT500CR 900S, for example, is an updated version of a 1967 Shelby GT500 Mustang. It features a 427-cubic-inch V8 that produces over 800 horsepower, plus modern brakes, tires, and suspension to help manage that power. Classic Recreations also offers tamer GT350CR and GT500CR models. The least expensive model starts at $149,000.
Classic Recreations even got the green light from the Blue Oval to build brand-new versions of decades-old Ford Mustang models. The 1969 and 1970 Boss 429, Boss 302, and Mach 1 are some of the most desirable muscle cars around, and original versions are hard to come by today. Because the Boss and Mach 1 Mustangs are officially licensed by Ford, Classic Recreations prefers to call them “continuation cars” rather than replicas.
Cars can be built off original Mustang bodies or new reproductions officially licensed by Ford, and get some modern upgrades. Pricing hasn’t been announced yet, but the first completed Mustang Boss 429 will be unveiled in November at the 2018 SEMA Show in Las Vegas.