Texas gunmaker known for rifle eyed by military now accepting Bitcoin

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The Texas gunmaker known for “smart” rifles that caught the eye of the U.S. military is in the news again: It’s now accepting Bitcoin.

“If you look at the way our purchasing system works, you have to apply to purchase,” TrackingPoint VP Oren Schauble told the technology websiteArs Technica. “And we had a lot of applicants ask ‘Hey, are you guys accepting any cryptocurrencies?’ It’s something a lot of guys who fit our demographic are interested in and have been investing in. … [It] was significantly less complicated than we anticipated, so we set it up.”

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In January, the military purchased “several” of the company’s smart rifles for testing and evaluation purposes, but now civilians can get their hands on the rifles with the emerging cryptocurrency. Mr. Schauble said at the time that he believed inexperienced shooters were having a 70 percent first-shot success probability at 1,000 yards when using the rifle.

Ars Technica noted that TrackingPoint will not directly accept Bitcoins, but will instead partner with CoinVoice, a payment processor that performs the transactions. Due to the volatility of the currency at the moment, the price of each purchase will be made at the day’s exchange rate.

“We’re going to develop as we go for the first couple of days, but I think it’s safe to say that we’ll establish something like that as we learn the timings with our vendor, who is actually doing the transactions for us,” Mr. Schauble told the website.

TrackingPoint, which is based in Austin, Texas, bills itself as an “applied technology company working to perfect long-range precision tracking and electro-optical-mechanical integration.”

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