Please ensure Javascript is enabled for purposes of website accessibility

Camping World Begins Accepting Bitcoin for RV Purchases

By Rich Duprey - Updated Apr 26, 2021 at 9:50AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Several cryptocurrencies will be legal tender for buying an RV.

Recreational vehicle retailer Camping World Holdings (CWH -3.07%) says people can now purchase an RV using cryptocurrencies.

In an arrangement with cryptocurrency payment service provider BitPay, Camping World will begin accepting Bitcoin, Ethereum, and other select cryptocurrencies using various digital wallets. The program will launch at two dealerships initially, but will soon be available at all Camping World dealerships and on its e-commerce platform.

Woman sitting in front of an RV

Image source: Getty Images.

Camping World was something of a surprise play on the COVID-19 pandemic as RV sales soared as people sought to escape to the great outdoors while the country was locked down. Revenue soared 11% in 2020 to $5.4 billion while profits soared 32% to $1.7 billion from the year-ago period as it grew active customers to over 5.3 million.

Cryptocurrencies also rocketed higher with Bitcoin rising from around $7,600 a year ago to almost $54,000 today, having recently hit a high of over $63,000. Ethereum went from $195 last year to $2,500 today.

Acceptance of cryptocurrencies as a valid substitute for cash continues to expand.

"As the industry leader, we have a responsibility to adapt to new preferences and elevate the customer experience, whether through the products and services we offer, or in the ways we interact and transact with the customer," Camping World chairman and CEO Marcus Lemonis said. "Accepting cryptocurrency is simply another part of our vision to make RVing easy in an increasingly digital world."

The announcement about accepting cryptocurrencies for RV purchases follows Camping World saying it will also develop a platform for a fully paperless, online RV purchase experience.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Camping World Holdings, Inc. Stock Quote
Camping World Holdings, Inc.
$22.73 (-3.07%) $0.72
Bitcoin Stock Quote
$20,443.48 (0.94%) $190.23
Ethereum Stock Quote
$1,176.08 (2.71%) $31.08

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 07/07/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.