A Lamborghini has always been a status symbol, a way to tell the world you’ve made it BIG. And crypto loves its lambos. Really loves them. “When Lambo?” is arguably the most frequently-used phrase on crypto forums across the Internet. It’s a well-loved meme, used by people who can’t wait for their crypto to finally earn them a lot of money. Today we’re looking at crypto’s craze for supercars, and if buying one with Bitcoin is really worth it.
Just be aware that it might take some time. Lambos aren’t cheap, after all
Whenever a new coin pops up in the market, there’s always the question: When Lambo? When will it get to the point at which we can finally buy a real, life-size Lamborghini?
The meme has grown to the point where it has its own website, when-lambo.com that uses the real-time values of over 50 crypto currencies, to try and predict when the question will be answered. The results are established using a special formula based on the progress of the chosen crypto coin in the past 7 days, refreshing every minute.
The first documented Bitcoin Lambo purchase came in 2013, when a 4chan user purchased a Lamborghini Gallardo from a dealership in Newport Beach, CA. The buyer, from 4chan’s technology board /g/, spent 216.8433 BTC — or $209,995 —on the yellow supercar.
For context, in 2021:
216.8433 BTC = $12,904,865 = ₹94,59,12,409.
Nine thousand, four hundred and fifty-nine crore rupees. Let that sink in.
But then again – no amount of Bitcoin will ever sound like this:
Most cars depreciate in value as you drive away from the dealership, and Lambos are no different. After one year, your Lambo will hold only about 70% of its value. By comparison, Bitcoin’s value rose 753.2% in the last 365 days. Maybe outright buying a supercar doesn’t make sense…
But are you really buying a supercar to make sense with it? Absolutely not – just look at it!
There are other options, though.
You could go hit up the MPH Club on your next trip to Miami. The Miami-based company offers exotic and luxury car rental for those who really want to vacation in style. They’ll be only too happy to accept your Bitcoin. For $1,495 a day.