Cryptocurrency billionaire buys Lamborghini with $115 Bitcoin investment

Motorcars, a car dealership just outside of Atlanta is used to seeing musicians as well as athletes coming through its doors in order to buy luxury cars.

One thing which actually broke that trend was the arrival of a man by the name of Peter Saddington, who walked through the door. He was neither a musician nor an athlete. He’s a 35-year-old coder.

The main thing which caught the attention of the dealership, as well as the Internet, is that he bought a Lamborghini by cashing in on 45 Bitcoins which he had invested in when the value of Bitcoin was around $ 2.5.

There are numerous such examples in which cryptocurrency investors have managed to buy pricier assets with the help of the investments which they made during the earlier years. He further exclaimed on social media that he was not surprised by the astronomical rise in the price of Bitcoin. Since he has been in the tech industry for long enough, he knows how valuations of assets can rise overnight. This is one of the main reasons why he was not surprised at all.

He 1st found out about Bitcoin in 2011. He realized that Bitcoin had actually lost 90% of its value and this prompted him to think about investing in the same. He took an entire month to research about Bitcoins and look into the code behind Bitcoin as well as its valuation. Thereafter, he was able to invest in Bitcoins around $ 2.52. He actually bought around 1000 Bitcoins which since then has increased to $ 19,000 per coin. The return which he has garnered is around 321000%.

According to him, he’s a long-term investor of Bitcoin and would continue to hold the Bitcoins for an even longer period of time. He also currently runs a couple of YouTube channels dedicated to cryptocurrency and a forum on cryptocurrency by the name of The Bitcoin Pub.

He has shared the videos of his new Lamborghini on YouTube as well. According to an article in New York Times, Lamborghini is one of the best ways for cryptocurrency millionaires to spend their money on. Maybe this is the reason why he too decided to buy a Lamborghini in order to flash as well then cash in on his investment. However, the truth is he’s not the only one who has earned such enormous amount of returns with Bitcoin. There are many other investors as well who have earned such astronomical returns. Source: CNBC


Adam Webb is editor in Smartereum, blockchain and currency news, where he produces updates on Blockchain, Ethereum and other alternative cryptocurrencies.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.