Lambo is short for Lamborghini, the high-end cars that typically cost at least $200,000. “When Lambo” (or “Lambo”) is a slang for the type of exotic car that people aspire to buy when their crypto assets rise in value substantially, i.e. “moon”.
Example: “What is a rational crypto valuation when your crypto lands a lambo on the moon?”
We are facing the rise of Bitcoin and other cryptocurrencies as a new asset class. Which most people do not understand, seeing it as an opportunity for speculation, coupled with a popularization involving more and more players of all kinds.
Many people believe that investing in crypto is one way to get rich (fast). And crypto enthusiasts have made the purchase of Lamborghini as a symbolic gesture. “When Lambo?” translates to “When do we get ridiculously rich off of this crypto holding?”. The question always comes up whenever a new coin or token pops up in the market.
Cryptocurrency following aside, Lamborghini has always stood for new money. With Lamborghini model cars appearing in music videos like Kanye West’s “Mercy”, or A$AP Mob’s “Yamborghini High”.
Lambo: Status Symbol of Crypto Boom
In a positive perspective of the cryptocurrency community, many crypto holders saw the digital asset as a means of breaking out of their current financial struggles. They saw it as a new way to live a luxury life and they were determined to make it happen.
In 2013, a user on online forum 4chan posted his purchase after he bought a brand new Lamborghini with Bitcoin. The buyer spent about 216 BTC ($209,000) at that time on a 2014 Lamborghini Gallardo.
The story went viral. And since then, car dealerships in the United States have found themselves having many new customers who want to exchange Bitcoin for a Lamborghini, as a trend of the new rich spending their crypto wealth on the Italian supercar.
Peter Saddington, CTO of VinWiki, who also runs The Bitcoin Pub forum, documented his Lamborghini purchase on his YouTube channel in 2017. First invested in Bitcoin in late 2011, Saddington cashed in 45 BTC to drive away with a $200,000 Lamborghini Huracan. Thanks to an early interest in cryptocurrencies, buying those 45 BTC cost Saddington less than $115.
As a side note, premier automaker Tesla, led by CEO Elon Musk, announced in February 2021 that it invested around $1.5 billion in Bitcoin. It plans to begin accepting the cryptocurrency, expecting to allow customers to pay for its electric vehicles with Bitcoin soon.