Now Bitcoin millionaires are buying Lamborghinis

How do you know when you’ve truly made it? Just look in the driveway.

The purchase of a Lamborghini is becoming a meme in the Bitcoin community, with would-be millionaires asking “when Lambo” in regards to when their investment will be worth enough to buy one of the cars. There’s even a when-lambo website, which is dedicated to helping Bitcoin owners calculate their proximity to sweet Italian leather and the burn of rubber on roadways.

The site notes that its calculations, which are based on the value of Bitcoin over the past seven days, “are completely fictional” — a disclaimer likely due to the simple fact that Bitcoin is a very unstable investment, seeing major upswings in price followed by sharp downturns. But Bitcoin billionaires are buying nonetheless. A general manager at a Lamborghini dealership in California told CNBC that it had seen “over 10 transactions” involving cryptocurrencies in December of last year, when Bitcoin soared to more than $19,000 a coin (who knows what’s it’s really worth, of course).

For some Bitcoin millionaires, a Lamborghini is more than just a status symbol. It serves as proof that the coin does hold real-world value. In 2015, Piper Moretti, a realtor who specializes in helping people use Bitcoin to purchase homes, saw how the purchase of a Lamborghini even helped persuade a realtor to sell her clients a $3.2 million home in Manhattan Beach. The owner’s agent refused to accept a purchase in Bitcoin out of fears that her client would be scammed.

Moretti’s clients, who do not wish to be named, decided to purchase a Lamborghini and sent over the details of the transaction to Moretti, who was able to persuade the home owner that her clients were legitimate.

“The Lambo actually helped us get the house,” Moretti told Business Insider.

She said that the Lambo purchase helped prove that Bitcoin wasn’t just some made-up internet thing, but real money that could be used to make real purchases such as homes and cars.

Cryptocurrencies, particularly Bitcoin, saw rapid growth over the past year. This growth also saw the rise of scammers, which has damaged the currency’s reputation and led some businesses to refuse payment in Bitcoins. Of note are the Mt. Gox bankruptcy filing and Bitcoin gold — a project designed to create a new form of cryptocurrency that also tapped into the Bitcoin name.


A new bill could outlaw loot boxes in video games. Here’s what it says

Senator Josh Hawley of Missouri is making noise with his newly proposed bill that aims to tackle pay-to-win micro-transactions and loot boxes in video games played by kids. But what would the bill do, exactly?

Insiders claim the Tesla Model S nearly became the long-rumored Apple car

Apple offered to buy Tesla in 2013, according to an analyst who spoke to people familiar with the talks. Apple made Tesla a great offer, but the deal fell through when Elon Musk refused to step away from the company he helped found.
Movies & TV

The Iron Throne deserved better: Who should have been ruler of Westeros

Who should have sat on the Iron Throne? A look at some of the people who could have been the best ruler to sit on the Iron Throne in Game of Thrones, and what they would have brought — or in one case, will bring — to their kingdom.
Movies & TV

Prime-time TV: Here are the best shows on Amazon Prime right now

There's more to Amazon Prime than free two-day shipping, including access to a number of phenomenal shows at no extra cost. To make the sifting easier, here are our favorite shows currently streaming on Amazon Prime.
Product Review

Hyundai’s luxurious Tucson suffocates you with more – in a good way

The refreshed 2019 Hyundai Tucson may be one of the more affordable compact SUVs on the market, but there are more safety features than before as standard, as well as a hint of luxury.

Parents will never miss soccer practice with BMW’s new 523-horsepower SUVs

BMW is launching M Performance versions of its biggest SUVs, the X5 and X7. While not full-on M models, they do pack 523-horsepower twin-turbo V8 engines, allowing both SUVs to sprint from zero to 60 mph in under five seconds.

Don’t trust Tesla’s new autonomous lane-changing feature, Consumer Reports warns

Consumer Reports warns that last month's Autopilot updates that enabled automatic lane changing may put you at risk of a ticket or accident. Reaction times lagged what a human could do, testers say.

Texas awaits one signature to put a statewide stop to red light cameras

When Texas Governor Greg Abbott signs state House Bill 1631 into law, he will bring a halt to red light cameras in the state. The central issue in the bill's passage is the presumption of guilt of the registered owner of the car.

EV owners may still need to stop at a Chevron station, but not to buy gasoline

EVgo, the operator of a sizable network of electric car charging stations, has partnered with Chevron. Five Chevron stations located in California will install EVgo chargers that electric car owners can pay to use.

Mercedes-Benz GLE SUV tries to balance power and efficiency with mild-hybrid V8

The redesigned Mercedes-Benz GLE will get a V8 mild-hybrid powertrain when it launches in the United States later in 2019. The 4.0-liter twin-turbocharged V8 makes 483 hp on its own, but can also get a 21 hp electric boost.

Audi TT will get the ax to make way for electric cars — and the R8 may be next

Once a design leader, the Audi TT will meet its demise to make room in Audi's lineup for more electric cars. Audi executives confirmed plans to kill off the TT at the automaker's annual shareholder meeting.

Honda recalls 119,000 2019 CR-V crossovers over fears of airbag deployment

A manufacturing defect in select 2019 Honda CR-V crossovers could cause the airbag to malfunction and unexpectedly deploy, leading the automaker to recall some 137,000 vehicles worldwide, 118,598 of them in the U.S.

Cadillac confirms V-Series performance versions of the CT5 and CT4

Cadillac will unveil CT5-V and CT4-V sports sedans in Detroit May 30. They will be the latest cars in the General Motors luxury brand's V-Series performance line, which celebrates its 15th anniversary this year.

Watch Cruise Automation’s driverless car perform one of the trickiest maneuvers

Unprotected left turns in urban environments are one of the trickiest maneuvers a driver has to perform — and the same goes for self-driving cars. Autonomous-vehicle company Cruise Automation appears close to nailing it.