Most people know all too well that there is a connection between cryptocurrency and Lamborghinis. More specifically, these cars are the go-to reference for people who have high hopes when investing in cryptocurrencies. Unsurprisingly, the actual Lambo industry is also seeing some positive sales figures, partially thanks to all of the new Bitcoin millionaires.
Bitcoiners Like Their Lambos
In the world of Bitcoin and cryptocurrencies, several memes have been created over the years. One of the most popular memes revolves around speculators and investors asking questions such as “When Lambo?” when they purchase a cryptocurrency. It is evident this trend has taken on a life of its own in recent years, as more and more early Bitcoin investors are able to afford Lamborghinis thanks to their trading profits.
In fact, many Bitcoin investors have been purchasing Lamborghini cars in the past few months. Given last year’s spectacular price increase, that is anything but a surprise. People made a lot of good money from Bitcoin and quickly began looking for ways to spend their newfound wealth. Looking at the same Bitcoin in 2018, it is evident these fleeting profits will need to be spent wisely before the market sours.
It is a bit unclear why so many Bitcoin enthusiasts are smitten by Lamborghini cars. Considering that this cryptocurrency is “for nerds” in the eyes of the general public, one wouldn’t necessarily expect its users to show a great interest in sports cars. Even so, the Lamborghini is a status symbol like no other. In the corporate world, it may not be all that appealing, even though fancy sports cars certainly make their mark there as well. It is only normal that we see similar trends where cryptocurrencies are concerned.
Over the years, more and more self-made Bitcoin millionaires have been able to buy themselves Lamborghinis. Peter Saddington is one example, as he paid 45 Bitcoin to buy a 2015 Lamborghini when the price per BTC was still below $5,000. Had he waited a few months more, he could have gotten the same car for just over 12 Bitcoin. It just goes to show that some people will do everything they can to get their hands on such a car regardless of the cost.
One could argue the growing interest in buying Lamborghini cars with Bitcoin is a positive trend overall. It goes to show there is a real-world value associated with this cryptocurrency. Although buying a Lamborghini is not something every Bitcoin holder will do at some point, it is evident there is a lot more legitimacy to this currency than the general public is aware of.
At the same time, flaunting this newfound wealth is a very dangerous hobby. If cryptocurrency were just about making people rich so they could buy a Lamborghini, this industry would have disappeared altogether several years ago. While it is good to see people spend their cryptocurrency directly, there is a lot more to this industry than simply getting rich without lifting a finger. Unfortunately, a lot of people can’t look past the dollar signs these days.