In the past year, bitcoin investors have turned into big spenders as the value of bitcoin continues to climb ever higher. The crypto community has shown off Lamborghinis and designer homes as the industry prices continued its meteoric trajectory. One Chinese investor in particular, however, has just bought rare Formula 1 (F1) supercars using his Litecoin holdings.
The individual is a prominent whale investor, based in China. The investor recently agreed to buy four extremely rare F1 cars from the UK-based Heritage F1 dealership. What makes this sale notable, other than its £4 million price tag, is the fact that the individual will pay for the supercars in Litecoin. According to the dealership, all four cars are track-worthy and equipped to race. For the buyer, however, the cars also serve as an investment as they will appreciate in value.
The deal was arranged by Eleesa Dadiani, a prominent art dealer based in London. Dadiani's gallery is unique, as buyers are able to pay using an array of cryptocurrencies.
Dadiani commented that all parties involved are extremely excited to be able to make this sale using only cryptocurrency. Dadiani added that cryptocurrency should not just be about investing, but should also provide its users with utility in their day-to-day lives. According to Dadiani, cryptocurrency could be hugely helpful in facilitating trade in a more transparent and efficient way.
The Founder of Heritage F1, Mike O’Connor, stated that the sale of the luxury cars will likely set a new standard, as well as open up a brand new market of consumers to the world of luxury purchases.
The individual is a prominent whale investor, based in China. The investor recently agreed to buy four extremely rare F1 cars from the UK-based Heritage F1 dealership. What makes this sale notable, other than its £4 million price tag, is the fact that the individual will pay for the supercars in Litecoin. According to the dealership, all four cars are track-worthy and equipped to race. For the buyer, however, the cars also serve as an investment as they will appreciate in value.
The deal was arranged by Eleesa Dadiani, a prominent art dealer based in London. Dadiani's gallery is unique, as buyers are able to pay using an array of cryptocurrencies.
Dadiani commented that all parties involved are extremely excited to be able to make this sale using only cryptocurrency. Dadiani added that cryptocurrency should not just be about investing, but should also provide its users with utility in their day-to-day lives. According to Dadiani, cryptocurrency could be hugely helpful in facilitating trade in a more transparent and efficient way.
The Founder of Heritage F1, Mike O’Connor, stated that the sale of the luxury cars will likely set a new standard, as well as open up a brand new market of consumers to the world of luxury purchases.