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"As a technologist and someone who likes to take risky bets with new technology, I thought it was really intriguing," Saddington tells CNBC Make It. "I took about a month to research it, look back in the code, look back in the white paper," referencing the bitcoin outline authored by the cryptocurrency's mysterious creator, Satoshi Nakamoto.
"I am a long term HODLER, or holder, of bitcoins," Saddington says, using the cryptoslang term. "I've been holding it since 2011 as much as I can." Saddington says he's bought bitcoin every Friday for five years.
Saddington, who is the CTO of VinWiki, an Atlanta-based start-up that provides automotive histories for used cars, also runs a cryptocurrency forum called The Bitcoin Pub and two YouTube channels about the cryptocurrency.
By some ultra-wealthy enthusiasts, Lamborghinis are considered to be "the single acceptable way to spend money in the Ethereum cryptocurrency community," according to The New York Times. Cashing out of cryptocurrency positions is generally discouraged in the community, and true believers are urged to "HODL."
The dealership accepts bitcoin through BitPay, a third-party company that enables transactions between a buyer holding cryptocurrency and a seller who wants U.S. dollars, for a 1 percent fee paid by the dealership.
"As a technologist and someone who likes to take risky bets with new technology, I thought it was really intriguing," Saddington tells CNBC Make It. "I took about a month to research it, look back in the code, look back in the white paper ," referencing the bitcoin outline authored by the cryptocurrency's mysterious creator, Satoshi Nakamoto.
"I am a long term HODLER, or holder, of bitcoins," Saddington says, using the cryptoslang term . "I've been holding it since 2011 as much as I can." Saddington says he's bought bitcoin every Friday for five years.
Miami Beach, FL - June 4, 2021 - On Friday, June 4th entertainment juggernaut Electric Feel and crypto platform Gemini partnered to throw the most memorable event of the Bitcoin 2021 Miami Crypto Conference. Ov... Read more
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