Many crypto investors and enthusiasts have become consumed with one nagging question in the past few years: When Lambo? And this dream of a Lambo has continued to happen as they have watched Bitcoin and other major coin prices rise and fall severally!
Lambo means Lamborghini in case you didn’t get it – a supercar many see as a status symbol. High-end watches, hard-to-find art pieces, and supercars have, over the years, become a staple of conversation in crypto-influencer threads and crypto conferences.
Many would have expected this to end as the market continues experiencing a crypto winter, but the reverse has happened. Today, Lambo dealerships continue to do great, despite the secondhand market becoming flooded with Rolex and Patek Phillipe watches.
Before looking at why this is the case, there’s a need to look into the meaning of when Lambo as explained by crypto lists experts.
What Does When Lambo Mean?
The phrase became popular among crypto enthusiasts during the early BTC days. Given that Lambo aren’t cheap, many crypto investors took them as a sign of aspiration to show what BTC would one day amount to.
As the years have gone by, many investors who have found success in the crypto market have chosen to buy Lamborghinis to help showcase their wealth. It’s, therefore, a trend that’s bound to continue, especially as the crypto market readies to recover from the latest bear run.
Cryptocurrency Volatility Remains Par for the Course
Peter Saddington is credited as one of the first persons to buy a Lamborghini after selling his Bitcoin holdings. He completed the purchase in 2017 after selling 45 BTCs, amounting to a little more than $200,000 at the time.
One factor that helped make his purchase newsworthy is the fact that he had purchased his crypto holdings a few years earlier for only $115. This was during its initial days when a single Bitcoin retailed for around $3.
His decision to purchase the Lambo helped boost the popularity of this supercar among crypto enthusiasts. Today, Saddington states that most of his friends still hold a desire to own one of these luxury cars.
Saddington, who has transitioned into an investor in crypto ventures, believes that significant crypto price movements are par for the course with cryptocurrencies. He adds that the price changes shouldn’t prevent crypto investors from buying luxury automobiles.
The renowned crypto investor recently held a video chat where he got to display a one-of-a-kind black Mercedes. He noted that he had purchased it using the profits accrued from Bitcoin mining operations, adding that he didn’t have any plans to sell his first Bitcoin Lamborghini.
Crypto Luxury Car Sales Increase in 2021
Luke Willmott, the Chief Operating Officer at AutoCoinCars – a platform that facilitates luxury car purchases using crypto – noted that the platform had increased its sales in the past year. The platform had doubled its sales to $12 million while retaining a stable growth rate.
He pointed out that the platform tends to notice an increase in luxury car purchases whenever the market undergoes some instability. According to Luke, this could be because Lamborghinis enjoy a more stable value than digital currencies, at least in a bear market. But as soon as the cryptocurrency market enters a bull market, the story will be totally different.
Lamborghinis Holding Value Better Than Crypto Assets
In what many crypto investors see as a cruel reversal in the crypto markets, Lambos have managed to hold their value better in the past few months than digital currencies. Picture this, ether and BTC prices have reduced by more than 50% since the crypto winter began in November.
The price drops have caused lenders such as Voyager Digital and Celsius Network to go out of business after becoming bankrupt. But while this continues to happen, the price of a secondhand luxury car hasn’t changed much, according to Car Gurus.
What’s more, statistics gathered from various online sources indicate that Lamborghini sales were at an all-time high last year, indicating that the trend may continue this year. The fact that Volkswagen has a long waiting list and low inventories may have helped.
According to a company spokesperson, the waiting list for a new state-of-the-art Lambo is about one and a half years. Within this time, the major crypto assets are likely to have gone through various changes, with that of the Lamborghini remaining relatively stable.
Which Is the Most Common Lambo Among Crypto Buyers?
Crypto buyers have different tastes in luxury cars, with most preferring to go for the most exotic ones they can find. For them, buying a fast car holds the same appeal as getting a chance to speculate on different cryptocurrencies in the market.
Sales figures obtained from Volkswagen indicate that the Lamborghini Huracan is the most popular model, and for a reason. It features heart-racing performance equipment and an exterior design that will take your breath away from the moment you lay your eyes on it. Still, the price is also rather affordable to be a Lambo.
The Huracan super sports car has a top speed of 202 miles per hour, 631 horsepower, and a 10-cylinder engine. It’s a luxury car that can reach a top speed of 60 miles per hour in less than 2.9 seconds. It’s no wonder most crypto buyers can’t help but covet it.