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Last fall, the dealership also got a visit from Peter Saddington, a seemingly unassuming year-old coder who is neither a rapper nor a celebrity. The bitcoin enthusiast's Lamborghini purchase isn't just a crazy bargain.
It reflects a trend of the new rich spending their cryptowealth on the Italian super car. In talking about when a coin is going to make buyers a lot of money, "someone says, 'When Lambo? While he won't say how many coins he currently owns, at that time, he bought more than 1, Saddington, who is the CTO of VinWiki, an Atlanta-based start-up that provides automotive histories for used cars, also runs a cryptocurrency forum called The Bitcoin Pub and two YouTube channels about the cryptocurrency.
His YouTube video documenting the Lamborghini purchase has over 1. By some ultra-wealthy enthusiasts, Lamborghinis are considered to be "the single acceptable way to spend money in the Ethereum cryptocurrency community," according to The New York Times.
Cashing out of cryptocurrency positions is generally discouraged in the community, and true believers are urged to "HODL. The meme has even led to the depiction of ethereum founder Vitalik Buterin as a religious icon, holding a Lamborghini in his outstretched hands. In response, Buterin tweeted that, "If all that we accomplish is lambo memes And it's not all internet lore.
Pietro Frigerio, the dealer principal and general manager at Lamborghini Newport Beach in Costa Mesa, California, saw sales of the car spike as the price of bitcoin skyrocketed. Even with the price of bitcoin falling, in January, Frigerio sold three Lambos via transactions with the cryptocurrency. The dealership accepts bitcoin through BitPay, a third-party company that enables transactions between a buyer holding cryptocurrency and a seller who wants U.
Similar [to] using Apple Pay or PayPal, or running foreign currency though a foreign exchange financial institution in order to receive U. At MotorCars of Georgia, general manager Saszi had heard questions from customers about bitcoin a few years before Saddington came to buy his Lamborghini.
Saszi then heard about sales with bitcoin from Frigerio at Lamborghini Newport Beach, who he says is a friend and colleague. Road to the Bitcoin Lamborghini A life-long entrepreneur, Saddington had taken on multiple ventures, many of which were unsuccessful. Today, that Related News. Scott June 21, Looking Past the Hype: How Can the Evan Faggart May 07, Ian Edwards May 07, Authorities Move to Seize Domain Name of Jon Southurst May 07, Blockchain Use Case? Securing Nuclear Research at Bitsonline May 06, Hoskinson Has a Few Recommendations for Bitcoin William Peaster May 06, Paul de Havilland May 06, Jon Southurst May 06, Bitsonline October 13, Looking Past the Hype: How Authorities Move to Seize D
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WebJun 21, ï¿½ï¿½ Erik Finman, a teen from Idaho, has become one of the latest 'bitcoin millionaires' - someone who has a million dollars worth of bitcoins, following a $1, . WebMay 5, ï¿½ï¿½ A 5-year-old boy was caught driving his parentsï¿½ car on a freeway in Utah on Monday ï¿½ apparently on his way to California to buy a Lamborghini. FERRARI, Missing: bitcoin. WebFeb 5, ï¿½ï¿½ Khaled Mazeedi, a tech entrepreneur and Youtube personality residing at the Palazzo Versace in Dubai, United Arab Emirates, paid in bitcoins to drive away in a .