What is “When Lambo?”
“When Lambo?” is a slang term used in the cryptocurrency community referring to when an investor will make enough profit to be able to buy a Lamborghini, an Italian luxury car.
Selling for around $200,000-500,000, Lamborghinis are aspirational cars that became popular among crypto enthusiasts during Bitcoin’s early bull runs. Many crypto investors who have generated substantial profits have purchased Lamborghinis as a show of their success.
The phrase became popular after entrepreneur Peter Saddington, co-founder of VinWiki, bought a $200,000 Lamborghini in 2015 with funds from the sale of 45 BTC he had purchased with a cost basis of $115.
This came after a user of the 4chan social media platform purchased a Lamborghini Gallardo with 216 BTC. At the height of the market in 2021, when Bitcoin reached $69,000, it would have taken less than 3 BTC to buy a Lamborghini.
In November 2018, the Bitcoin Mercantile Exchange rented three Lamborghinis and parked them outside the venue for the Consensus Investment Conference in New York to indicate that crypto investors were in attendance.
The height of the cryptocurrency market in 2021 coincided with record Lamborghini sales.
The term “When Lambo?” is also used as a meme on social media to mock new investors in crypto markets who are seen to be only looking to generate rather than holding their investments for the long term or showing any interest in the technology.
It is also used when a popular new cryptocurrency coin or token launches to speculate how long it will take for it to be worth enough for buyers to cash it in for a large profit.
While Saddington sold his Bitcoin for fiat currency to buy a Lamborghini, there are several car dealerships – including in California and Switzerland – that accept Bitcoin as payment.