The use of Cryptocurrencies has formed part of many boardroom discussions. In the recent years, bitcoin has become a robust store of value and safe haven asset. Apparently, it is more expensive than many others, which are quickly taking ownership of the market the likes Ripple, Ethereum, and Litecoin. Apparently, Litecoin is gaining quick momentum perhaps because of its cheaper transactions and small payments.
Surprisingly, it is ridiculous how millionaires are turning to the use of Litecoin to buy expensive stuff. Bitcon.com has revealed the purchase of 4 rare F1 auto using Litecoin by a Chinese multi-millionaire. The 4 vehicles from the U.K.’s Heritage F1 dealership, which are race-prepared cost about £4 million.
Cryptocurrency is opening a whole new general marketplace for many traders
It is clear that Cryptocurrency is not just about ‘getting rich’. It is also offering traders opportunities for trade and investment and in a more transparent way. Notably, the demand for the purchase of luxury assets using cryptocurrency is growing by the day and this has also set a new opening in the international markets.
London-based art dealer Eleesa Dadiani, says, “We are hugely excited to be conducting the sale of these exquisite machines in cryptocurrency.” She has a whole lot of gallery and besides she encourages the use of digital currencies to purchase her art.
All of the cars may increase in value with time
Litecoin is apparently becoming a better alternative to the well-known bitcoin. The two are competing against each other and as Bitcoin explodes Litecoin is rising in its market value. Mike O’Connor, the founder of F1 car dealership Heritage F1 said that the sale of the automobiles is just the first of many to come thus increasing in value.
The fleet is in track-worthy condition boasts a carbon-fiber body, has a 2,400 CC V9 engine and will also come with its matching transport lorry and truck. The collection of the cars is headlined by the 2011 Sauber Ferrari C30, the car which took fifth place at the Monaco Grand Prix that year.