If you have a few million dollars stashed as Bitcoin or other cryptocurrency, the chance is you will want to lavish some of your cash on gifts for yourself and your loved ones.
But liquidating that cash you need to buy a Lambo is not always that easy.
Switching the altcoin to hard cash is often the easy bit.
Negotiating high transaction charges on exchanges, low daily exchange limits and picking the best time to liquidate in the rollercoaster world of digital currency values can be a challenge that takes some weeks to unravel.
But Elizabeth White and her corporation – The White Company– says she can help put you behind the wheel of that Lambo a lot quicker.
Speedy deals
Think weeks rather than days before you can drive off in that aspirational sports car.
“I just knew I could get these people a Lambo a lot quicker than most people,” said White.
“We had a very large sale to a buyer in China from a seller in California for a US$4 million car. The negotiation was very quick. It took less than a week and the settlement took about 30 minutes.”
White says her company can put together speedy deals in a mix of fiat and digital currencies with the help of hedge fund Apis Capital Management.
“We’re able to quickly convert someone’s holdings at any moment,” she said. “I can take these large amounts of money and purchase the items for my client, and then re-ingest their cryptocurrencies back into the fund.”
Stepping stone
If you are a cryptocurrency millionaire aspiring to the lifestyle of the serious wealthy, then White’s company has switched digital currency into suites at the Super Bowl, yachts, dream honeymoons, luxury clothing and furnishings and jewellery.
“It all goes back to offering cryptocurrency holders something they need,” said White. “They need the ability to purchase something in the real world with their digital wealth.”
Now, White is considering her own easy to exchange cryptocurrency as a stepping stone for digital currency millionaires who want to spend some of that cash.
The aim is to develop a coin that can be spent instantly on a cup of coffee or a Lamborghini wherever you are in the world.