Crypto and Lamborghinis, what’s the connection?
Many people think of cryptocurrencies as a quick-money investment vehicle because of the endless stories of early investors who made millions of dollars and were able to buy mansions and expensive cars with them (like Lamborghinis ).
It is about knowing when an investor will be able to buy a Lamborghini thanks to a cryptocurrency investment. It seems that while society’s investment habits may change, the status symbols remain the same. So while many people are making money the « new way », you’d be surprised how many of them still choose to own a Lamborghini, for example.
How did it start?
At a 2018 blockchain conference in Manhattan, NYC, a cryptocurrency exchange leased hundreds of Lamborghinis for $1,000 each. Lamborghinis are a sign of success in the crypto world, and owning one is a sign that you have succeeded. According to data collected at that time, the hashtags #bitcoin and #blockchain were among the most used in Lamborghini-related discussions.
Cryptocurrency investors are swayed by the Italian sports vehicle maker, though that emotion is less prevalent today. Lamborghini sales and price Ethereumthe second largest cryptocurrency in the world by market capitalization, were even plotted in an article by Quartz.
They’re not the easiest vehicles to sell at $200,000 a car, but new highs in the cryptocurrency market in 2021 could be tied to Lamborghini’s biggest sales in 60 years.
The phrase “When Lambo?” is used by members of the crypto community as an inside joke to ask when someone’s cryptocurrency investment will be worth enough to buy a Lamborghini. Ethereum developer Vitalik Buterin is even depicted as Jesus Christ clutching a red Lamborghini in one of the most well-known memes of all time. The get-rich-quick schemes of cryptocurrency enthusiasts prompted Vitalik Buterin to threaten to abandon the Ethereum project as a whole.
Why was this particular car chosen?
Provocative in nature, Lamborghinis, according to branding experts, are for those who want to stand out and be known for their success. For example, many musicians have adopted it as a way to recognize and celebrate their success in the United States, as it is associated with the idea of “succeeding”. Since its inception, Lamborghini has been synonymous with flash, noise and testosterone. This popular meme has added to the notoriety of cryptocurrencies.
The question “When Lambo?” became a catchphrase in crypto bro culture following a wave of crypto billionaires openly spending their bitcoins on Lamborghinis. Since then, the phrase « when Lambo? » has become the symbol of a successful crypto business. One of the most frequently asked questions is “when will my new currency be worth enough to buy a car?”.
Many years have passed since this meme became popular. More and more “get rich quick” scams and “I’ll teach you how to become a cryptocurrency millionaire” advertisements are popping up all the time on the internet, thanks to the proliferation of shitcoins, cryptocurrency trading and strategy gurus. But even though cryptocurrency platforms like bitcoin profit recognize that “the internet is flooded with success stories of everyday people who endorse bitcoin and have made millions overnight”, it is important to keep in mind the risks involved. High market volatility can work against traders and investors, and not everyone ends up achieving their dream of a Lambo or a mansion.
Can a Lambo be purchased with cryptocurrencies?
The Lamborghini store in Newport Beach became the first luxury car dealership to accept bitcoins in 2014 after a 4chan member purchased a Gallardo for 216 BTC. The sale of the Tesla Model S took place around the same time. During the month of December 2017, when bitcoin reached an all-time high of around $20,000, the dealer’s general manager said he observed more than ten transactions involving cryptocurrencies (8 more than the typical monthly transaction ).
Also, Peter Saddington (a startup CEO) bought a Lamborghini Huracan using 45 bitcoins that he bought for $115 in 2011. Silicon Valley has spawned a lot of billionaires, but they don’t all have the same taste for flamboyant displays of wealth. However, although Lamborghinis are seen as a sign of wealth and power in blockchain circles, they are no longer as ubiquitous as they once were.
By using bitcoin for the first time since its inception, the community has received a clear message that the asset class is here to stay. Isn’t it obvious that it’s worth something if you can afford a Lamborghini? But this notion should not be considered as the only way to invest in crypto-currencies, because it remains associated with risks; it is therefore advisable to exercise caution and to make judicious transactions.
The bottom line
During the early days of bitcoin, the question « When Lambo? » ” has become popular among cryptocurrency aficionados. Lamborghinis are premium sports vehicles with a starting price of $211,321, and they have served as a beacon of hope for the future value of cryptocurrencies like bitcoin. Lamborghinis are a sign of wealth and success for many cryptocurrency investors. As the blockchain industry matures, the “when Lambo” meme may die out, but as long as there are crypto-billionaires, Lamborghinis will continue to be shown off on social media and at crypto conferences. currencies.
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