(GOWER, Mo.) A luxury Lamborghini doesn’t usually roll out of the small town of Gower, but a dealership may have sold a cryptocurrency man’s dream car to a Dallas man.
“I’m the first to buy a Lamborhgini with Litecoin,” said John Kim, Chief Litecoin Evangelist of the Litecoin Foundation.
For the past four years, John Kim has invested in Litecoin, a type of cryptocurrency like Bitcoin or Dogecoin. Kim compares Litecoin as a silver currency to Bitcoin’s gold.
It was a risky investment that he put his life into.
“I sold everything four years ago: my house, my business. I got in my truck and went to promote Litecoin and push for the launch of Litecoin, “Kim said.” Everyone said I was crazy, they said it was a Ponzi, it was virtual nerd money. What you are doing?”
Well, that need for “nerd money” just brought Kim a bright orange Lambo that was paid entirely in cryptocurrency. The almost US $ 300,000 sports car was exchanged for 800 Litecoins worth US $ 360 per share. It was a historic purchase that the local Dennis Sneed For dealership wasn’t overly gassed about at first.
“Of course you know? What are we doing here? That’s a lot of money. This is a huge risk, ”said Chad Sneed, VP of Dennis Sneed Ford.
But after a few days of email exchanges between Kim and Sneed, the Gower dealership was fully involved.
“I’ve started looking into it a little more closely. I have a coin-based account that trades cryptocurrency. It became clear to us, “Hey, this seems pretty easy when you’re willing to pay the associated transaction fees. We would be happy to take the Litecoin. Let’s do it, ”said Sneed.
The deal was finalized on Thursday after Litecoin hit $ 360 per “coin”. Kim traded some of his coins for the luxury vehicle and made his nine-hour trip home to Dallas, Texas. But Kim said before you sell anything you own for cryptocurrency, pump the breaks.
“Do not do that. I’m an all-in-all-out guy, “Kim said.” Do your own research, take some time to figure out why we need Bitcoin and Litecoin, and then jump in a little bit about that Test water. Don’t invest money that you can’t afford to lose. “
For Kim, it was an investment that was worth the risk and one that has paid off in the most luxurious fashion so far.
r nCredit: Source Link "," author ": " @ type ":" Person "," name ":" cryptocentral101 "," url ":" https: / / cryptocentral.tech / author / cryptocentral101 / "," articleSection ":["Litecoin"], "image": "@ type": "ImageObject", "url": "https: / / cryptocentral.tech / wp-content / uploads / 2021 / 05 /CRYPTO+LAMBO.jpg "," width ": 576," height ": 324," publisher ": " @ type ":" Organization "," name ":" "," url ":" https: / / cryptocentral.tech "," logo ": " @ type ":" ImageObject "," url ":" "," sameAs ":["https://cryptocentral.tech/texas-man-buys-lamborghini-in-gower-with-cryptocurrency/#","https://cryptocentral.tech/texas-man-buys-lamborghini-in-gower-with-cryptocurrency/#","https://cryptocentral.tech/texas-man-buys-lamborghini-in-gower-with-cryptocurrency/#","https://www.linkedin.com/"]