Building contractor now accepting cryptocurrency at a discount

Posted at 9:31 PM, Jul 02, 2021
and last updated 2021-07-02 22:31:04-04

NASHVILLE, Tenn. (WTVF) — A Nashville contracting company is trying to encourage clients to pay with cryptocurrency, by offering services at a 10% discount.

Stratton Exteriors stays busy with new clients. The business is booked out until January.

"We are a full-service general contracting firm. We do custom builds. We do high-end renovations. We do high-end decks, fences, porches,” said Shane Stratton, CEO of the company.

He's been in the contracting space for many years. But recently, the business has changed the way they do things. Shane is connecting his hopes for cryptocurrency to the business by allowing customers to pay with Bitcoin, Ethereum or Litecoin.

"We offer 10% off any project to our clients if they pay in cryptocurrency. The reason we do this is, the cost of lumber is up, the cost of labor is up and we're hedging our bets due to inflation in order to get paid in cryptocurrency to put within our cash reserves,” Stratton said.

He said 10% of his transactions use cryptocurrency right now.

“I see great value in purchasing and holding crypto assets. We are in the very early stages of cryptocurrency. So, if you think about when you first heard about the internet, 20 years ago to where we're at right now, it's a huge leap."

They're planning to hold onto those assets as Stratton believes one day they'll be worth much more.

He also recognizes there is a risk as cryptocurrencies can fluctuate rapidly.

Still, it’s a risk he’s betting will pay off.