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A company that offers the service of converting crypto to fiat in the form of luxury goods is reported to record a staggering amount of transactions.
Elizabeth White, the founder and CEO of The White Company that offers the service admitted in an interview that her company records $250 million worth of transactions during the ongoing bear market.
She said that the fear of “a crypto doom” has led many crypto owners, most of which are millionaires even billionaires to turn to her company’s one-of-a-kind services, as reported by BTC Wires.
To put as a remark, The White Company enables crypto owners to purchase luxury goods using cryptocurrencies, such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Stellar (XLM), Bitcoin SV (BSV) and its native crypto, White Standard (WSD).
Some of the luxury goods available for purchase are Aston Martin Vantage at the price of 61.195 BTC, Audi 2014 R8 V10 PLUS at the price of 38.252 BTC, and Bentley 2019 Bentayga at the price of 106.840 BTC.
The extended bear market may have caused some crypto millionaires to cash out their crypto possession either in the form of fiat or (luxury) goods, however, some other may well be in their efforts to make themselves the future crypto millionaires by purchasing what others have sold.
If you’re curious about the types of “whale” there are in the crypto space or which category you are in, check out this article.
Read more: If I'm not a Bitcoin whale, then what am I?