Slideshow: Cryptocurrency Millionaires are Buying Up Lamborghinis

Cryptocurrency

Bitcoin, for those of you who live under a rock, is a type of cryptocurrency, or a type of digital monetary entity. It is, in large, a made-up currency and changes value quicker than the cars that are bought with it do 0-60. Generally, the type of people who make stacks from the "digital" world of business don't tend to be flashy people. Take Bill Gates and Mark Zuckerberg--two of the most influential and rich people in the technology space today--both live very modest lives relative to the money they make. Many others in Silicon Valley have the same philosophy on life. 

But what about Bitcoin? 

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Bitcoin Buyers

Since Bitcoin is a currency which has recently exploded in value, the people who have large stakes in it are the kind of people who want instant gratification. One day, a Bitcoin is worth $5,000 and the next, $10,000. The jumps in value happen that fast! So to illustrate how incredibly rich they have become in such a short time, many of the Bitcoin users have started buying Lamborghinis--the most flamboyant and showy supercars money can buy.

Buying Lamborghinis has become a sensation on the Internet. Reaching the point where you can buy a $200,000+ supercar with digital money.

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Actually Spending Bitcoins

A man by the name of Peter Saddington used his Bitcoins to buy a Lamborghini Huracan. He acquired his Bitcoins back in 2011 when they cost only $3. Now, each one is worth well over that. Mr. Saddington used 45 Bitcoins to pay for his quarter-million dollar supercar and only had to pay a transaction fee of $7.95 and the sales tax in cash. 

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Lambo Approved

Other Bitcoin millionaires have used Lamborghinis to legitimize buying other more expensive items such as a $3.2 million home in the case of an unnamed client in Manhattan Beach. A real estate agent by the name of Piper Moretti was quoted saying that the Lambo actually helped the client buy the house.

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Lamborghini Sales

At a dealership in Newport Beach, California, there have been over 10 Bitcoin transactions to buy various supercars. Many of the transactions happened in December when each Bitcoin was worth around $19,000. The Italian automaker has been producing more cars than ever before and a portion of the buying has been from the Bitcoin owners. Lamborghini sold about 3,815 cars last year alone.

Since then, the craze has fizzled out a bit so not as many Bitcoin Billionaires have been splurging. 

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