Published On: Mon, Apr 2nd, 2018

Bitcoin millionaires buying Lamborghinis while carmaker says sales is sky rocketing

According to fox news Silicon Valley may have a lot of big names but these individuals do not flaunt their wealth to public. These monarchs of Silicon Valley focus on their work instead of spending cash extravagantly on parties and other luxuries.

foxnew-Bitcoin millionaires buying Lamborghinis while carmaker says sales is sky rocketing

Cryptocurrency millionaires are an exception from this class of people.

Individuals who have made amazing net worth from both Bitcoin and Ether cryptocurrencies are flaunting off their easily earned wealth by buying Lamborghinis as a status symbol. They are openly flaunting their wealth in public.

This Italian car has become an internet meme whenever a new Cryptocurrency emerges on market. People often ask on social media the question “When’s the Lambo” after release of new cryptocurrencies. They are referring to question when they will be able to afford the car which stars off with base price of 200000 dollars.

In 2015, a 35 year old Atlanta based colder named Peter Saddington walked off with a 2015’s model Lamborghini at the height of Crypto Currency madness. Saddington bought these coins at less than 3 dollars back in 2011.

Saddington told in an interview to Yahoo Finance in 2017, buying a Lambo with Bitcoin is a proof that things can be bought by Bitcoin transaction.

foxnews.com -Bitcoin millionaires buying Lamborghinis while carmaker says sales is sky rocketing

Yahoo Finance and CNBC released a statement that car was used when bought and Peter directly paid the owner with Bitcoin and paid dealership with a fee of 7 dollars including sales axes win cash.

According to Lamborghini officials, they have sold about 3815 vehicles in 2017 and this is the seventh consecutive year for sky rocket sales.

A General Manger of Lamborghini in Costa Mesa told CNBC interviewers that they have made over 10 transactions in Cryptocurrency last December.

Crypto millionaires are all not responsible for the increase of Lambo sales. There is relatively a small number of people invested in cryptocurrencies and even fewer bought Bitcoin and ether before their prices seen a hike in 2017.

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