Bitcoin was created to be a transactional currency to be used to purchase things.
As it gains more mainstream acceptance there have been a large number of things that have been added to the stable of items purchased with Bitcoin, from simple things to food items, to more obscure items like comic books. We have also previously covered some of the weirdest items that you can purchase with Bitcoin.
As the price of Bitcoin has risen, the number of expensive items being bought with it has grown as well. It’s not uncommon anymore for Bitcoin millionaires to be buying all the trappings of a luxury lifestyle, including cars, houses and yachts. And some Bitcoin purchases have become staggering as the price rises as well.
The most famous of these is the Bitcoin pizza purchase made by Laszlo Hanyecz in 2010. He purchased two Papa John’s pizza’s for 10,000 Bitcoin. At the time that was about $30 worth of Bitcoin. However, even with Bitcoin sliding well off its all-time highs in 2018, as of late October 2018 with Bitcoin worth around $6,500 each, those two pizzas are now worth a whopping $65 million! That’s some serious dough.
Let’s have a better look at some of the most expensive things being bought with Bitcoin.
Cars for Bitcoin
This could be the largest class of expensive items being bought with Bitcoins as many Bitcoin early adopters now live up to the slogan “When Lambo?” The most famous such purchase was made by YouTuber, Bitcoin forum owner and CTO of VinWiki Peter Saddington late in 2017.
He purchased a $200,000 2015 Lamborghini Huracan with a white matte wrap and race exhaust features for 45 Bitcoin. Those same 45 Bitcoin now would be worth $292,500, but Saddington says he paid just $115 for those 45 Bitcoins back in 2011 when he first became aware of Bitcoin.
Lambos are considered by some early cryptocurrency adopters to be the only acceptable way to spend Bitcoin. Cashing out is discouraged, and true believers in the cryptocurrency revolution are encouraged to “Hodl” “to the moon”. There have also been several stories of Tesla purchases using Bitcoin, such as the 2013 purchase of a Tesla S by someone in Florida for 91 BTC worth $109k at the time, but worth $more than $53.8 million at today’s prices.