Hint: Its Italian, expensive and super fast
At least once in your life, you may have been poised with the question, “If you became a millionaire, what would you do with the money?” And if you’re being honest, the answer would probably be buying something really fancy, like a car, a house or a completely new wardrobe.
Earlier, the chances of turning into a millionaire overnight were far fetched, unless you won the lottery or scored big on a gameshow. But for those who invested in bitcoins when their popularity was barely even scratching the surface, are faced with this dilemma of what to do with all that money, now that the value of bitcoins has gone through the roof. And there seems to a pattern emerging: they’re all rushing to buy a Lamborghini. In fact, the Italian supercar has apparently become the ultimate status symbol in the community.
The Bitcoin-Lamborghini connection
According to a report in Business Insider, a 35-year-old coder who lives in Atlanta, USA paid 45 bitcoins to buy a used Lamborghini Huracan 2015, when the bitcoin surge was at its peak late last year. He had bought the bitcoins for less that kes300 a piece back in 2011.
“Buying the Lambo with bitcoin is proof that it can be used for real transactions and buying really cool stuff. It’s not only used by criminals,” the report quoted him as saying.
The trend has been growing so much that, there now exists a website called When Lambo, that lets you enter the number of bitcoins you possess, and calculates and estimate date of when you’d be able to buy your own Lambo. Although a disclaimer shows that the calculations made by the website are fictional.
Lamborghini makers are loving it!
Obviously, the other side is happy too. In fact, a recent study concluded that the sales of Lamborghini cars rose when the price of cryptocurrencies like Ether shot up. Having sold over 3,800 cars in 2017 alone, Lamborghini has shown a growth in their car sales for the seventh consecutive year.
That being said, we can’t entirely attribute this rise in sales to the bitcoin fairytale. Compared to the total sale of the car, only a small number of people are a part of the bitcoin trend and an even smaller number actually bought a Lamborghini with their bitcoins.
But then again, it definitely looks like just about enough people used their bitcoins to buy a Lamborghini for ‘When’s Lambo?’ to emerge.
