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Bitcoin Millionaires Are Now Buying Lamborghinis As A Status Symbol

Lamboghini purchase | Crypto Wealth | Bitcoin Wealth | Cryptocurrency news | Cryptocurrency 2018

People often invest their hard earned money into buying certain assets as a symbol of their status and wealth. Now Bitcoin Millionaires are not lagging behind either. This is evident by the news that Bitcoin millionaires, who made their riches in Bitcoin and ether, the second largest cryptocurrency by market value, are buying Lamborghinis as the ultimate status symbol in their community.

People who made riches in bitcoin and ether have bought the Italian supercar for as little as $135, because they invested in crypto before its value spiked.

Last fall, a coder named Peter Saddington, living in Atlanta, paid 45 bitcoins to ride off in a 2015 Lamborghini Huracan (price tag: $200,000). Those coins cost less than $3 a piece when Saddington bought the digital currency back in 2011.

Saddington said,

“Buying the Lambo with bitcoin is proof it can be used for real transactions, buying really cool stuff. It’s not only used by criminals.”

 The car he bought was refurbished, and Saddington paid the seller directly in bitcoin. He paid the dealership a transaction fee of $7.95 and the sales tax in cash.

Another lamborghini purchase comes from 2015, when realtor Piper Moretti’s company The Crypto Realty Group which specializes in helping people buy homes with crypto, saw one of her first crypto-clients buy a Lambo with bitcoin.

Also Read: Buy SuperCars In India and Pay in Bitcoins

A family from the East Coast fell in love with a $3.2 million home on Manhattan Beach. Her client, who asked not to be named, wanted to pay in bitcoin. But the seller’s agent was dead-set against it. Moretti said they had to find a way to show they weren’t trying to scam the seller.

Around that time, the price of bitcoin spiked, and Moretti’s client decided to spend some of the extra money on a Lambo from an Orange County dealership that accepts bitcoin as payment.

Moretti told her client to “send me everything you have on this,” including all the receipts and documents from the transaction, which she then provided to the seller’s agent.

“The Lambo actually helped us get the house,” Moretti told Business Insider.

Cryptocurrency is “not just internet-nerd money,” she added. “You can actually buy things.”

Also Read: Luxury High Rise Apartments In Dubai To Be Sold In Exchange Of Bitcoin

Lamborghini Sales Are Soaring

With the increasing good will of the bitcoin and ether that can be used to buy a Lamborghini, the rise in the sales of Lamborghini are also meant to shoot up.

This might also help other cryptocurrencies recover in the market. The wealth status of certain people because of their crypto assets is no joke. Specially with cryptocurrency pulling more and more people ever since.

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

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