Slang for the type of car that many crypto enthusiasts aspire to buy when their digital assets “moon” — or rise in value substantially.
Lambo is shorthand for Lamborghini, an exotic car that people often refer to in their excitement over getting rich from cryptocurrencies.
Especially in the early days, the term was common in crypto forums when contributors would ask when prices are going to rise, with them writing: “When Lambo?”
Lamborghinis are high-end cars that typically cost at least $200,000 — and indeed, some crypto enthusiasts have managed to capitalize on Bitcoin’s market movements to the extent where they have been able to buy one. As a result, some wealthy traders have made this purchase as a symbolic gesture.
In February 2018, Peter Saddington, entrepreneur and co-founder of VinWiki, bought a Lamborghini for less than $115 thanks to an early interest in cryptocurrencies.
He cashed in 45 BTC to drive away with a Lamborghini costing $200,000. That said, at one point in 2020 when Bitcoin was trading at $24,000, this crypto haul would have been worth more than $1 million.
When cryptocurrency prices are about to surge, users often joke and circulate a meme around “When Lambo” referring to when the cryptocurrency holder will be able to purchase a Lamborghini or become rich as a result of their crypto assets.