From massive yachts to Banksy paintings, here are six things that crypto billionaires spend their earnings on

Via Instagram / @rkoi

Money has been through an interesting journey. From rocks to barter to metal to paper, it has now become an invisible force that is driving the world. Cryptocurrencies have introduced the idea of intangible money that floats somewhere in the universe. Digital currencies have gripped the world of luxury with a gilded glove and look like they’re going to stick around for some time to come.

As a result, early entrants in the crypto space have been easily investing a million dollars or more in the purchase of some ultra-luxury items. So, what are the most popular purchases among crypto billionaires?

Pieces of art
We’re not talking about contentious digital art. You can now buy physical art pieces from Sotheby’s, Christie’s, and other houses using digital currency. A Banksy sold for a whopping 3,093 ETH late last year, which is over $12 million. Sotheby’s has also opened up auctions and bidding to crypto owners who are looking for their choicest lot before the gavel comes down. Christie’s sold a Keith Haring piece for over $5 million last year.

Supercars and luxury cars
This one’s a no-brainer. You would want to own a LaFerrari if you have an absurd amount of wealth. Or maybe the most recent bespoke Mercedes-Maybach with every accessory and package installed. Bitcars is a Poland-based marketplace for cars that are sold using cryptocurrencies. They have a Ferrari SF90 for over 22 BTC, which is just under a million dollars. The site also has the legendary 1957 Mercedes 300 SL up for sale for 37.710400 BTC.

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The Abeking & Rasmussen Excellence yacht.

Ocean Independence from Switzerland is considered to be among the most respectable businesses in the trade and has opened up to accepting cryptocurrencies for trade. They have a 68-meter yacht from the house of Abeking & Rasmussen, Soaring, up for sale at 2,218 BTC.

A property on sale on Bithome.

Luxury Homes
There’s no point flaunting all the wealth in the world without having a palatial residence to call home. Bithome is a Switzerland-based real-estate company that lists prime properties from around the world. They have presently featured a massive property in the controversial land of Crimea for a massive 250 BTC.

Precious metals
One thing that isn’t going out of vogue is investing in metals. Crypto billionaires can indulge in the purchase of gold. However, they would be wary about the price of gold not growing at the rate at which their crypto investments have grown. So the motivation for such purchases could be the actual application of purchased gold for other purposes or simply to diversify their holdings.

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A 50-gram bar of gold can be purchased for 0.0779… BTC. A website called Bitgild allows you to purchase gold using eighteen types of cryptocurrencies, including BTC and ETH. Those investing in precious metals like gold or platinum will surely have a keen eye out on the market and make their purchases when they sense a sharp rise.

Another shocking entry into the league of precious metals to be purchased by crypto billionaires is tungsten. It has become one of the most coveted metals to be purchased and donned by buyers. In 2021 a group of crypto investors purchased a 900-kilogram cube of tungsten with ETH that equaled the value of $250,000 at the time of purchase. It measured just 37 centimeters, but the density of the metal is what makes it so expensive and rare. They bagged their prized possession from Midwest Tungsten Service, a company that sells the metal in the form of smaller cubes. They also create a variety of welding and sports-related goods, but that is a lot less interesting.

There is no end to what money can buy. With passing time, we will surely see more objects being available to the growing number of crypto billionaires.

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