Besides the Meme Jokes Crypto-Enthusiasts Are Actually Buying Lamborghinis

The luxury Italian sports car, Lamborghini, otherwise referred to as the “Lambo” has become a ‘holy grail’ for some cryptocurrency enthusiasts. As ridiculous as $200K+ automobile may sound to some individuals after bitcoin’s rise in 2017 that dream is now attainable for a lot of early adopters.

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When Lambo?

A Lamborghini is an Italian automobile that can cost anywhere between $200,000 to $2,200,000 depending on the model. Over the past few months when many cryptocurrency enthusiasts were celebrating bitcoin’s meteoric rise, the topic of “Lambos” had become a hot conversation. Across social media forums and trading chat rooms many individuals often ask “when Lambo?” referring to the time when crypto-hodlers can all be able to purchase the luxury vehicle. At The North American Bitcoin Conference in Miami, there were quite a few Lambos on site for everyone to drool over. Some even speculate that the rise of digital currencies had inadvertently pushed Audi/VW (the parent company of Lamborghini) public shares because of the crypto-madness last year.

One Bitcoiner Purchased a 2015 Lamborghini Huracan for $115

One dealership that sells luxury cars, Motorcars of Georgia, met a man last fall who purchased a 2015 Lamborghini Huracan with money he earned from a bitcoin investment. In fact, the $200,000 sportscar (45 BTC at the time) only cost Peter Saddington $115 dollars back in the early days. Saddington purchased his first bitcoins after he read about the currency’s first ‘crash’ from $30 to $3 per coin. Saddington reveals that he purchased the coins in 2011 for roughly $2.52 and won’t reveal to the media how many he owns. In addition to being an early adopter, Saddington also has his own YouTube channel and the video of him buying a Lambo from Motorcars went viral with over 1.5 million views.

Lambo Sales On the Rise Since the 2013 Bull Run

Saddington isn’t the only bitcoiner purchasing Lambos as the trend is being seen in a lot of other areas. The general manager at Lamborghini Newport Beach in Costa Mesa, California, Pietro Frigerio, says ever since bitcoin’s price spiked Lambo sales have followed the rise. Frigerio says throughout 2013 until 2016 the luxury auto dealer did 1-2 cryptocurrency transactions per month, but in December of 2017, Bitcoin’s recent peak, he sold over ten vehicles.

The love for Lambos has been infecting the crypto-community for quite some time as the first Lamborghini purchase with bitcoins took place in 2013. The same Newport Beach dealership sold a Lamborghini Gallardo for $209,000, or 216.8 bitcoins that year. If a cryptocurrency millionaire is lazy they can also purchase a Lamborghini Huracan LP-610-4 online from their couch. The green Huracan can be delivered ‘anonymously’ and is being sold by the White Company for BTC, ETH, and LTC.

Save Those Satoshis

Cryptocurrency enthusiasts saving their precious satoshis for a Lambo can also look at a special Lambo-centric price ticker that pairs a Lamborghini Aventador with the price of BTC. At the time of publication one BTC equals about 0.0214768460576 of a slice of one Lamborghini Aventador, according to Lambo/BTC Ticker’s statistics.

What do you think about the relationship between Lambos and cryptocurrency enthusiasts? Let us know in the comments below.

Images via Pixabay, Peter Saddington’s CNBC interview, Lamborghini, Lambo2BTC

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