Some laughed it off stating that simply hoarding virtual coins are not going to make them millionaires when actually they do not have any purchasing power. However, that changed quickly with some of the most prominent companies opening their doors for the cryptocurrency investment and in exchange for the luxury goods and services.
Yes, Crypto millionaires flocked to these luxury vehicle showrooms, showing the might of the Bitcoin and altcoins. Gradually from being just a show-off, the purchase of Lamborghini became a cult phenomenon among the crypto millionaires. Now, the virtual currencies have many takers in the automobile industry with the latest one being the American dealership – Oak Motors.
If you think that the penetration of cryptos is only for the Auto world, then shrug off that misconception. Because there are real estate names who are willing to accept cryptocurrency in exchange for the property. For instance, a Caribbean paradise, a plot on the Union Island in St. Vincent and the Grenadines was listed for sale in Bitcoin just last year.
The owners put the price tag of 570 BTC at the time. Similarly, investors who want to buy the property in the Middle East through Bitcoins had multiple options in Dubai.
Then, British entrepreneurs are not far behind as they listed 50 luxury flats for sale in Bitcoin in February 2018. What is even more astonishing is the fact that all the properties were sold and one of the buyers bought 10 properties with Bitcoin.
A Diamond retailer, Samer Halimeh New York has been selling jewelry for Bitcoins since September 2017. Following it, there was a sudden spike in the customers who were interested in buying jewelry over $1 Million. Another United States based Jewelry retailer, Reeds has now also opened the doors to accept payment in Bitcoin. Reeds is also offering gold ingots and loose diamonds for the cryptocurrency.
Talking about the services, you can book your seat for the Super Bowl by paying in Bitcoin or can buy an airplane ticket from some of the Airlines. Additionally, there are growing instances, where students are also able to pay for their tuition in Bitcoin and Altcoins. Well, it seems like the Cryptocurrencies are gradually going mainstream and as the days pass, we might see more products and services being offered for the Virtual currencies.