“When Lambo” is a slang term humorously referring to the aspiration to buy a Lamborghini luxury car with cryptocurrency profits.
A Lamborghini is a high-end luxury sports car that could cost upwards of $200,000 dollars for a single unit. The term simply suggests a time when a cryptocurrency investor hopes to make more than enough to purchase one or more of these expensive cars with profits from cryptocurrencies.
“When Lambo” (sometimes written as “Lambo”) is used to depict positive, enthusiastic hopes for investing in a particular cryptocurrency and can also serve as a status symbol of a particular crypto asset boom.
Also, coupled with the fact that one of the earliest significant purchases using money made from Bitcoin as far back as 2013 was a Lamborghini, this gave popularity to the association of a breakthrough from crypto assets to purchasing luxury cars.
The term has become widespread so much that Tesla, led by its CEO Elon Musk, announced that buyers might purchase the luxury car using Bitcoins, making the company one of the first luxury automakers to accept direct cryptocurrency payments.
Can I buy Lambo with Bitcoin?
Given the boom of Bitcoin in 2013, many luxury car dealerships were open to the purchase of cars with Bitcoin. Most notably accepting Bitcoin payments was the Lamborghini Newport Beach – a dealership out of Cosa Mesa, California, which gained widespread media attention as the risks associated with Bitcoin payments were unclear at the time.
However, it appears to have been a great move as the dealership reported over 10 Bitcoin Lamborghini purchases in December 2017 alone.
How much BTC for one Lambo?
The amount of BTC that you will need to buy a Lambo will vary depending on the price of Bitcoin at the time of purchase.
Lamborghini’s most popular model is currently the Gallardo, which has an average starting price of approximately $200,000 USD.
At the current time of writing (June 2022), the BTC price is around $31,000 USD. This means that it would take approximately 6.45 BTC to buy one Lambo. This is calculated by dividing 200,000 (the average Lamborghini cost) by 31,000 (the approximate price of BTC at the time of writing).
Last year the price of BTC rose to an all-time high of roughly $69,000 USD. At this price it would only take roughly 2.9 BTC to buy a Lambo.
Due to the limited supply of Bitcoin, it’s possible that over a long enough time frame a Lambo will cost less and less BTC. For example, in a theoretical future where one BTC is worth $200,000 USD, it would only take one Bitcoin to buy a Lambo.
Of course, one does need to factor in the volatility of an emerging asset like BTCas well. This means that it could also theoretically cost more BTC to buy a Lambo in the future. It all depends on your timeframe and the future growth and success of Bitcoin as an asset.