As bitcoin and other cryptocurrencies are going through an unprecedented crisis, the number of used Lamborghinis is on the rise. Are these two phenomena related? The data seems to confirm that the “Wolves of Wall Street 2.0” are in trouble…
The Bitcoin will have many runs and their lowest levels since its inception in 2009. Some never believed in the potential of cryptocurrency, Others continue to praise his merits Kill all enemies.
In fact , Most bitcoin wallets They are now in red. This was revealed through data from analytics firm IntoTheBlock blockchain.
Half of the Bitcoin processing lost funds
In total, 51% of the 47.9 million Bitcoin addresses, or 24.6 million, less than the purchase price of their investment. This means that they bought Bitcoin at a price higher than the prevailing price at the time of the study: $16,067.
This phenomenon directly related to the general collapse Cryptocurrency in recent months. BTC has fallen to a value that has been surpassed for many years.
However, this is the first time that the majority of titles have experienced a deficit since the start of the game It started to collapse due to the covid crisis In March 2020. This previously happened in January 2019 with 55% of titles lost. Bitcoin fell to $3,200 before rising again three months later.
In 2015, a record 62% of titles ended up being “out of money”. this too, Bitcoin managed to regain color a few days later.
However, this new drop in bitcoin is occurring simultaneously to the catastrophic bankruptcy of FTX. The So the market is likely to run into a lot of trouble to get up…
No more Lamborghinis
The consequences of the Bitcoin collapse were not long in coming. The Selling a number of used Lamborghini cars On the rise, some are convinced that the two phenomena are interrelated.
In fact, Bitcoin traders are particularly fond of The most prestigious Italian brand. Many models appear in the parking lots of conferences dedicated to BTC, and the “crypto brothers” do not hesitate to show off their cars on Instagram.
American Car Dealership website Autotrader highlights a slight increase in sales used on vehicles over $100,000 this year compared to the previous three years.
The encryption crash is real.
– Brianna Wu (@BriannaWu) November 16, 2022
The Edmunds Car Sales Specialist It confirms information, based on its tool that allows Internet users to estimate the price of their car before selling it. By compiling a list of nearly 70 brands, including Aston Martin, Rolls-Royce, Bentley, Ferrari and Lamborghini, the company has seen an increase in the use of the tool. A few weeks before the problems appeared to the crypto market.
Similarly, the Twitter account CarDearlShipGuy which runs a large independent car sales group is also noted a plus ” Important Storage levels Foreign cars such as the Lamborghini Urus and Mercedes G-Class. Cars that sold for $300,000 just a few months ago are Down to $200,000 in the wholesale markets.
There are currently 1,606 G Wagons for sale on AutoTrader at the moment. This is more than I’ve ever seen.
Crypto boys are getting hurt.
– Marshall Haas 🏎 (@marshall) November 16, 2022
at the beginning of summer Bloomberg published an article Revealing that luxury goods are flooding the flea market after the cryptocurrency plummets. This was a particularly case Philippe Patek and Rolex watches.
Of course, these data are not enough to draw conclusions. However, outside of the cryptic winter, experts don’t have it There are no other rational explanations to explain this The sudden liquidation of Lamborghini cars…