The world’s most popular cat breed is one you can’t touch or smell. It is in the ether of the digital world. In twelve days buyers have spent $11 million buying 70,000 of these cats. They are fake cats bought with money that you can’t touch or smell either. It is extraordinary. It is the behaviour of people sucked into the bitcoin explosion in a wild attempt at making a financial killing.
A bright spark somewhere created the ‘Crypto-cat’. It is an online creation which you can see at CryptoKitties. It is a game in which people breed, buy and sell cartoon cats using a new digital currency: ether. I have never heard of it and I am sure a lot of the cat buyers haven’t either but it is not stopping them buying them up in the tens of thousands.
Why are they doing it? They want to make money, quickly. They see the cats as digital assets that will increase in value. I presume that the only reason why they will is because there is a limited supply and if the demand is great the price rises. I have not yet checked out the site.
We know that bitcoin has risen 19-fold in the past year. At the beginning of the year they were worth $771 each and yesterday they were valued at $14,965.
Cryto-cat buyers want some of that action. The most expensive crypto-cat is the world’s most expensive cat ever. He is the Founder Cat. He is a bugged eyed creature with purple tabby spots. Hardly cute. He enjoys his food and likes Garfield. He was sold for $122,095 on December 6th.
The real world’s most expensive cat was a California Spangled.