According to an analyst from Wedbush Securities, Tesla has made a fortune of almost a billion dollar from its BTC investment.

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Daniel Ives, disclosed some information regarding the American car company, Tesla that has made around a billion dollar profit out of their Bitcoin investments. Tesla made its $1.5B Bitcoin purchase so as to provide more flexibility to add more variety to its income earlier this month and also announced that they wouldn’t mind starting to receive Bitcoin instead of their products.

Mr. Ives believes that this move has paid off handsomely and that’s the reason why Tesla will carry on with this and receive even more profits:

“The company is on a trajectory to make more from its Bitcoin investments than profits from selling its EV (electric vehicle) cars in all of 2020.”

The recent Bitcoin surge and its setting a new all-time high of $58K has had a huge impact on the investors and has caught and drawn the attention of numerous investment institutions and firms to itself. Tesla as a famous example in this case made a good profit. 
Mr. Analyst also believes that it was the right move on the part of Tesla. And believes that it may have an influence on other companies as well.

“While the Bitcoin investment is a sideshow for Tesla, it’s clearly been a good initial investment, and a trend we expect could have a ripple impact for other public companies over the next 12 to 18 months.”


Bitcoin investment gave a $1 Billion profit to Tesla according to analysts!

On Saturday, Tesla CEO said that the Bitcoin price seems to be too high after Bitcoin passed 50K.



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On Friday, a new milestone was crossed by the world’s number one cryptocurrency by market cap, Bitcoin. $1T was the market value that was reached for, leaving traders and major backers were taken aback.

Elon Musk once again talked about Bitcoin, but this time he believed that its price was not fair and said it’s too high. This happened right after Bitcoin crossed $55K on Friday that helped it reach a market value of $1T which is a historic record so far.

Elon Musk who has been even more active recently regarding cryptocurrencies has tweeted and said a few things regarding money and its value;

“Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.”

He also talked about Bitcoin and Ethereum as a reaction to a user who believed that fold was better than both BTC and ETH. “That said, BTC & ETH do seem high lol”. You can see the tweet here;

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Source; Twitter

Bitcoin has seen more than 350% increase in its price in the past 6 months being traded at $57K. The second most known cryptocurrency, Ethereum, had increased drastically and was being traded at $1,996 on Saturday.

This huge rise has been in part the result of the support received by certain celebrities, investors, and organizations. Elon Musk, Jack Dorsey, Visa, and MasterCard are cases in point as they have either supported or employed Bitcoin in their system and recently the Bank of New York Mellon has shown interest in the realm of cryptocurrencies.


Bitcoin sets a market cap above $1T while Elon Musk believes its price is overrated

A YouTube is sad to announce that he had paid 37 BTCs for some secondhand cars.



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In a video on YouTube entitled “Idiot Spends $1.8 Million of Bitcoin on Old Hondas”, a YouTuber who is known as NSXTRA, Chris Cut, regretfully explained how he spent $1.8M now-worth BTC on two second-hand Honda sports cars. 

This man was and still is fond of Honda sports cars as he mentioned it in his video. He bought two cars. The first car was a Honda NXS Targa that he bought in 2017 on Valentine’s Day. He paid $30,500 in Bitcoin for that and believed that he had got a great deal and that’s why he even called it “a steal”. He paid 30.5 BTC for that car as BTC was around $1000 back then. At today’s price, we can say he bought it for $1.5M. 

He also paid 6.5 BTC for another Honda in 2018 on a Black Friday. The price of BTC was around $4,300 back then. The 6.5 BTC paid for this car is worth $293,000 on the 14 of February, 2021 when he posted the video.

It must be mentioned that he didn’t mind selling the Bitcoins back then, however, he was soo mad at himself 4 years later when he realized how much he had lost:

“But then I started doing some math and it made me kick myself in the ass and I feel pretty depressed,”


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Source: Youtube

Overall, he has spent more than $1.7M on two second-hand cars and he regrets that. 
He is not alone in this. A similar case of such crypto-selling happened with Dogecoin Founder who claims that he has sold his Doge holdings for a used Honda Civic.  And the most famous and yet depressing sale was for Laszlo Hanyecz which is known as “Bitcoin pizza”. He bought two pizza for 10,000 BTC which are over $500M now.



A YouTuber paid 37 BTCs for several used sport cars

Using polkadot seems to be possible but it may take a while as delays may occur. 

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A roadmap for Polkadot project was released on Monday for parachains and slot auction’s launch which suggests that the protocol is going to be fully launched.

Polkadot roadmap is comprised of three stages. Rocco testnet environment which is the current phase is where communication mechanisms between various Polkadot parachains can be tested. Cross-Chain Message Passing-lite, or XCMP-lite is the mechanism being utilized to transfer generalized messages and tokens using the main coordinator of the network which is Polkadot’s relay chain.

Although Rococo testnet came in Aug, 2020, its component features remains incomplete. Once completed, the Polkadot codebase will enjoy feature completion. But this is not enough for implementing parachains. Next, a vote needs to be held to empower parachains on Polkadot’s “canary network”, Kusama. Kusama serves as a middle ground between a testnet and a mainnet. Maintaining its economic value, Kusama possesses a better experimentation tolerance.

An on-chain vote is triggered on Polkadot to inaugurate parachain auctions as soon as the parachains on Kusama are stable. However. No clear timeline are suggested for the milestones.

Parachains rollout, however, was supposed to take place in the first season of 2021, and more than half of it is already there. 

There has been stability issues with Rococo testnet like the stucking of  the parachains on block 1036. Despite such issues, Melikhov who is the CEO of Polkadot parachain candidate Equilibrium is positive about meeting their deadlines regarding the Polkadot parachain launch.


Polkadot full-launch roadmap triggers an upward trend towards a new all-time high     

After consecutive days of Bitcoin surge, finally Bitcoin calms down while some high-cap altcoins shoot up.

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After weeks of breaking records followed by 3 days of fluctuations, the most well-known cryptocurrency and largest by market capitalization fell below $40K on January 10, 2021. Meanwhile, some altcoins such as Dash and Bitcoin Cash soared.

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Source; Cointelegraph

There are multiple causes attributed to BTC’s fall and one of which might be a slight increase in miner’s selling their BTC as MPI (Miner's Position Index) has reached levels where miners are selling. And in this regard, Ki Young Ju believes that MPI seems to be enough to create a local top just before the price falls below $40K.


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TC/USD vs. MPI. Source: Twitter/@ki_young_ju           Source; Cointelegraph


In addition, the Crypto Fear and Greed index have stayed at high levels (above 90 or "extreme greed" for 2 months) which warns of an incoming pullback. 


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Crypto Fear & Greed index. Source: Digital Assets Data                       Source; Cointelegraph


## **Good days for altcoins!?**


Following the Ethereum breakout, it seems that the upward and bullish trend has migrated from BTC to altcoins, Bitcoin Cash and Dash also rose dramatically by 50% and 40%, respectively. 
This move has also led multiple analysts to believe that the “altseason” is commencing.


Bitcoin settles below $40K, Dash skyrockets and Bitcoin Cash breaks out

After consecutive days of Bitcoin surge, finally Bitcoin calms down while some high-cap altcoins shoot up.

Good days for altcoins!?