While the colloquial term “Lambo” is often used in jest, especially in the cryptocurrency industry, some early Bitcoin investors aren’t kidding when they use the term. In fact, rumor has it that a handful of crypto’s most zany believers have exotics — a testament to their wealth — sitting in their driveway.
So, many were shocked when a leading investor in this budding sector claimed that he attempting to liquidate his Huracán for BTC.
But has he been feeling the “bear market blues,” or does he just love cryptocurrencies that much?
Waving Goodbye To A Lambo For Bitcoin
On Sunday, Jason A. Williams, a founding partner at Morgan Creek Digital Assets, took to his Twitter page, followed by an array of crypto’s most fervent investors, to claim he’s “going to do something that has never been done in crypto.”
Williams, who is peers with Mark Yusko, the founder of the overarching Morgan Creek brand, and Anthony “Pomp” Pompliano, an anti-bank, pro-Bitcoin figure, noted that he wants to sell his neon orange Lamborghini Huracán for Bitcoin.
I’m going to do something that has never been done in crypto.
I’m going to sell my Lamborghini and buy Bitcoin. Offers in BTC accepted. pic.twitter.com/kdZsKK7Imk
— Jason A. Williams 🦍 (@JWilliamsFstmed) January 6, 2019
In a matter of a few hours, his tweet, first seen as a joke, garnered boatloads of traction on crypto’s secluded ecosystem on Twitter. Armin Van Bitcoin, a pseudonymous Canadian enthusiast, noted that this was a “wise move,” accentuating his long-term belief in the flagship cryptocurrency.
Crypto Cobain, a diehard trader, joked that he would pay four Litecoin (LTC) for the depreciating asset, likely referencing the anti-LTC movement that has recently erupted on Twitter.
Vivek joked that Williams should tokenize the car, likely referencing Pompliano’s sentiment that all securities and assets, whether it be stocks, bonds, real estate certificates, or otherwise, will be put onto blockchains eventually. Riccardo Spagni, a key member of the Monero community and a preeminent crypto commentator, echoed Armin’s thoughts on the move, adding that “Huracans are awful investments… it’s better to get rid of it.”
This prompted a response from the Morgan Creek Digital partner, who noted that he has “too many cars, not enough BTC honestly.” The rest of the comments under his fun tweet were similar to the aforementioned, as many zealots for the decentralized movement found this move to be more than logical.
At the time of writing, it isn’t clear if Williams was given an offer.
Morgan Creek Enamored With Crypto
While this was done mostly in fun, this accentuates Morgan Creek’s enamorment with cryptocurrencies and related technologies.
Mark Yusko who could be credited as a fanatic, took to CNBC’s “Power Lunch” show in December to convey his vision for cryptocurrencies at large. Touching on the nascency of the crypto “technological wave,” Yusko noted that the market surrounding this ecosystem is evidently volatile, as BTC and other promising digital assets are ostensibly in a so-called “price discovery” phase. Yet, Yusko then indicated that he sees a considerable upside, by stating that he expects for cryptocurrencies to become the backbone of imminent technological infrastructures, just like Google’s Android or Apple’s iOS today.
Yusko’s partner, Pompliano, claimed that Bitcoin remains an anti-fragile asset, echoing the sentiment that the leading cryptocurrency is the world’s hardest money. Pomp also recently explained that Bitcoin’s fundamentals continue to outperform its value. Case in point, the network has seen a surge in transaction count, cheaper TX fees, and active full nodes — a set of measures that shouldn’t be discounted.