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Some enthusiasts, like entrepreneur Peter Saddington, want to “prove to people that you can actually transact with bitcoin.”
When Saddington began researching bitcoin in 2011, he soon decided the digital currency would probably bring about the next big change in the way the internet affects society. That November, Saddington said he bought his first bitcoins at $2.52 apiece.
He said that investment paid off so handsomely that by 2017, his $115 worth of bitcoins from 2011 had appreciated enough for him to buy a Lamborghini Huracan — the Lamborghini’s “entry-level” supercar that retails for about $200,000, according to Car and Driver.
Saddington said he specifically wanted to challenge online criticism about how using bitcoin to buy almost always results in a loss for the buyer. For example, a man in Florida experimented with bitcoin purchases in 2010 by offering 10,000 coins in exchange for two pizzas. Those bitcoins today are now worth tens of millions of dollars.
“There’s always been this meme that you never buy a Lamborghini with bitcoin, because it’s going to end up being a $20 million lambo,” Saddington said. He has no regrets about spending his bitcoin on a car. “It’s been great.”
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