A phrase referring to when cryptocurrency holders will become rich enough to afford the purchase of a Lamborghini.
“When Lambo?” was a phrase that became common among cryptocurrency enthusiasts during the early days of Bitcoin.
Lamborghinis are expensive cars that currently cost a minimum of $211,321 — and they were a sign of aspiration regarding what cryptocurrencies like BTC would one day be worth.
Many wealthy cryptocurrency investors have bought Lamborghinis as a symbolic gesture of their success in the market.
The phrase When Lambo shot to greater fame after the cryptocurrency Consensus Investment Conference was held in New York in November 2018, which came months after a monster rally in the price of Bitcoin.
Held every year, the event is the most important annual conference for the cryptocurrency and blockchain industry.
Bitcoin Mercantile Exchange rented three Lamborghinis at the event to signal the presence of cryptocurrency investors.
Peter Saddington, the entrepreneur and co-founder of VinWiki, was able to capitalize on his cryptocurrency holdings and managed to buy a Lamborghini with Bitcoin he initially acquired for $115.
He sold 45 BTC to fund a Lamborghini costing $200,000. That said, if he had waited a little longer, that crypto stash would have been worth many millions.
In April 2021, it would have taken fewer than 4 BTC to buy a shiny, new model.