One Chinese investor has decided to purchase a F1 fleet of four cars paying £4 Million in Litecoin. The seller was the United Kingdom’s Heritage F1 dealership and the sale will be subject to standard verification.
Among the cars bought we can find the 2011 Sauber Ferrari C30 driven by Kamui Kobayashi, the Japanese F1 driver. The car has also been driven by the Mexican driver Sergio Perez. The Chinese investor thinks of these cars as an investment for the future, due that they ae meant to appreciate in value.
“The sale of this breath-taking collection of Formula One cars, in cryptocurrency, will set a new precedent and open up a whole new international market to us. There is increasing demand for the purchase of luxury assets in cryptocurrency, and we are confident that this sale, in partnership with Dadiani Syndicate, is just the first of many to come,” commented Mike O’Connor, founder of Heritage F1.
Investments With Cryptocurrencies
This is not the first time that big investments are performed with cryptocurrencies. Different individuals have been buying different cars like Lamborghini or Rolls Royce. Just some time ago, a Rolls-Royce was sold in Bitcoin. The price for this car is £230,000 and the owner wants Bitcoin.
“Why not trade in Bitcoin? I treat it in exactly same way as normal currency these days. It’s safe, convenient and incredibly valuable right now so, to me, it makes sense to trade my car this way. It’s the future,” told the owner of the car.
Litecoin and Cryptocurrencies Bullish Market
During the last weeks, we have witnessed how the cryptocurrency market was growing. The first currency to start the bullish run was Bitcoin, which before the CBOE bitcoin futures launch, passed from $12,000 up to $18,000.
After Bitcoin came Litecoin and Ethereum. These currencies are being traded breaking records every single day since four days. We can explain this situation because of new individuals entering in the cryptocurrency market. Big investors and smaller individuals are starting to see potential in a growing market.
The Bitcoin futures launched by the CBOE and the one that the CME will launch open the doors for institutional investors to introduce money in the cryptocurrency market. In CoinStaker we have covered how many individuals are selling everything what they have in order to invest in cryptocurrencies.
We do not recommend to invest all the funds in these kind of assets due to the high risk associated with it. But virtual currencies are working perfectly to transact different amounts of money and for valuable items.