Morgan Creek Self-Promotes Again with Lambo Sale
Digital asset manager Morgan Creek Digital seems to be taking new measures to promote themselves, as well as the cryptocurrency industry as a whole, with co-founder Jason A. Williams selling his Lamborghini to buy Bitcoin - and accepting offers in BTC.
This comes a month after other co-founders Mark Yusko and Anthony Pompliano offered a bet of USD 1 million that crypto will outperform the S&P 500, an American stock market index based on the market capitalization of 500 large companies, during the next 10 years.
One Twitter user under the handle @mdotbit replied, “Trading a fine tuned, high powered, specialized piece of technology for a car? No deal.” User @HunterCrypto has a better solution: “Tokenize this car. I will buy fraction if it.”
Not only does Williams accept BTC, but when asked if he’s able to ship the car to Chile, he replied: “For the right amount of BTC I will hand deliver.” New Lamborghini might cost more than USD 200,000, or more than BTC 50. However, sales of this supercar are growing: in the first nine months of 2018, Lamborghini sold 3,554 cars, or 21.3% more than in the same period of 2017.
Meanwhile, Cornell professor Emin Gün Sirer commented on the tweet with, “Signs of a market bottom?”
If he’s right, and Williams goes through with the sale of his Lambo, it might turn out to be a good deal. Some of his Twitter followers have suggested the same thing: “Smart Move. So you can buy multiple lambos later,” answered @H3dgi.
Monero developer Riccardo Spagni commented on the Twitter post stating that it was a good idea to sell the the car calling it “awful.” Williams admitted “Too many cars. Not enough BTC honestly.” Offers came in thick and fast for the supercar, although most of them were troll offers to which Williams humorously declined. Williams also replied to users who claimed he was gloating about selling his Lambo to risk buying Bitcoin. Williams admits to the user that he wants to go all in on BTC as the reason for selling his Lamborghini.
This is just another sign that Morgan Creek Digital is bullish on Bitcoin: the bet for USD 1 million that crypto will outperform the S&P 500 has been dubbed the Buffett Bet 2.0 as it bears a striking similarity to one made by the business magnate Warren Buffett in 2007, when he bet a million dollars that an index fund would outperform a collection of hedge funds over the course of 10 years. However, it seems that no one has taken the Morgan Creek bet yet.