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Tesla’s Bitcoin investment has been a rollercoaster ride of gains and losses
One of the ultimate joyrides as a human is riding a rollercoaster. The anticipation of sitting in the train, waiting for dispatch as you slowly climb up the first gigantic hill, all for the anticipation to break. Suddenly, you’re falling down a 200+ foot drop, awaiting the next rise, which will unequivocally result in another slight drop. A short time later, you’re right back to where you started, in a pavilion, waiting to get off of the ride.
Tesla’s Bitcoin investment has been a comparable scenario described above: a meteoric climb, succeeded by a sharp drop, followed by tiny peaks and valleys. Ultimately, Tesla is right back to where it started.
In the company’s 10-Q filing with the SEC earlier today, the electric car company based out of Northern California detailed its tumultuous experience with Bitcoin, the cryptocurrency that could likely be attributed to most of the ranting and raving regarding digital assets. It allowed anyone who can access the document a peek into what kind of swings Tesla has been experiencing through its investment into Bitcoin, which was detailed in the 10-K filing after Q4 2020 results.
Climbing up the first hill
Tesla’s $1.5 billion investment started in the gate and quickly took off up the first hill of gains like a launch rollercoaster. The first hill lasted quite some time, as Bitcoin eclipsed $64,000 and put Tesla up a substantial sum. It is not known how many BTC Tesla received when it initially invested the $1.5 billion, but it is estimated that the price of the crypto was between $29,333 and $37,020. This would put Tesla’s potential holdings at between 37,020 to 51,137 BTC.
It was estimated that Tesla made close to or more than $1 billion as Bitcoin continued to rise in value through the early portion of 2021. According to an April report from Teslarati, “Even if Tesla only acquired the minimal amount of 37,020 Bitcoin in January, the company’s $1.5 billion investment would still be worth $2.3 billion today, hinting at a healthy profit of $800 million,” and that’s figure originates from the possibility of their lowest BTC investment. Tesla said it realized gains of $128 million from its digital assets in March 2021 alone.
After reaching all-time highs of over $64,829, Bitcoin started to tumble, bringing Tesla’s rollercoaster ride down its first and largest hill.
The Big Drop
The big drop occurred as Bitcoin began to slide in mid-May. From May 8th to the 22nd, Bitcoin slid from $58,788 to under $37,500. At one point, BTC even struck the $30,000 range before recovering to $38,000.
The slide was met with uncertainty, worry, and anxiety by many investors. But Musk solidified the fact that Tesla would keep its “diamond hands” and continue holding BTC, despite the volatility experienced during its epic fall.
The company wrote:
“During the three and six months ended June 30, 2021, we recorded $23 million and $50 million, respectively, of impairment losses on such digital assets.”
The Ride: Back to the Beginning
Through the tumultuous ride of the BTC rollercoaster through the first half of 2021, Tesla rode the hills, the turns, and loops and ended up right back where it started (basically). As of June 30, Tesla says the fair market value of such digital assets “was $1.47 billion.” Additionally, the company said that “as of June 30, 2021, the carrying value of our digital assets held was $1.31 billion, which reflects cumulative impairments of $50 million.”
It has been exciting, and it has been uncertain, but Tesla, like the rest of investors, is just along for the ride. Bitcoin’s volatility over the past few months may not have been expected by the diehard cryptocurrency supporters that have vocally supported it since its early days. Still, like anything else, it is an investment. Tesla is banking on a wider adoption of crypto in the coming months and years, something it has dabbled with in the past.
Ferrari, the Italian supercar maker, has revealed the name, interior, and interface design of its first-ever electric vehicle project, the Luce, initiating a new chapter in the rich history of the company’s automotive books.
This is the first time Ferrari has revealed such intimate details regarding its introductory EV offering, which has been in the realm of possibility for several years.
As more companies continue to take on EV projects, and some recede from them, supercar companies like Ferrari and Lamborghini are preparing to offer electric powertrains, offering super-fast performance and a new era of speed and acceleration.
Luce – a New Chapter in Ferrari
The company said that the name Luce is “more than a name. It is a vision.” Instead of looking at its first EV offering as a means to enter a new era of design, engineering, and imagination. The company did not want to compromise any of its reputation, high standards, or performance with this new project. It sees it as simply a page turn, and not the closing of a book:
“This new naming strategy reflects how the Ferrari Luce marks a significant addition to the Prancing Horse’s line-up, embodying the seamless expression of tradition and innovation. With its cutting-edge technology, unique design, and best-in-class driving thrills, it unites Ferrari’s racing heritage, the timeless spirit of its sports cars, and the evolving reality of contemporary lifestyles. It testifies to Ferrari’s determination to go beyond expectations: to imagine the future, and to dare. Because leading means illuminating the path ahead – and Luce embodies that mindset.”
Ferrari Luce Design
Ferrari collaborated with LoveFrom, a creative collective founded by Sir Jony Ive and Marc Newson. The pair has been working with Ferrari for five years on the Luce design; everything from materials, ergonomics, interface, and user experience has been designed by the two entities.
The big focus with the interior was to offer “a first, tangible insight into the design philosophy…where innovation meets craftsmanship and cutting-edge design. The team focused on perfecting and refining every solution to its purest form — not to reinvent what already works, but to create a new, carefully considered expression of Ferrari.”
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The company also said:
“Ultimately, the design of the Ferrari Luce’s interior is a synthesis of meticulous craftsmanship, respect for tradition, and thoughtful innovation. It offers a new choice for Ferrari enthusiasts – one that honours the past while embracing the future, and exemplifies the brand’s enduring commitment to quality, performance, and cultural significance.”
The appearance of the elements that make up the interior are both an ode to past designs, like the steering wheel, which is a reinterpretation of the iconic 1950s and 1960s wooden three-spoke Nardi wheel, and fresh, new designs, which aim to show the innovation Ferrari is adopting with this new project.
Interior Highlights
Steering Wheel
The Ferrari Luce is a shout-out to the Nardi wheel from the 1950s and 60s. It is constructed of 100% recycled aluminum, and the alloy was developed specifically for the vehicle to “ensure mechanical resistance and a superb surface quality for the anodisation process.”
It weighs 400 grams less than a standard Ferrari steering wheel:
Credit: Ferrari
It features two analogue control modules, ensuring both functionality and clarity, Ferrari said. The carmaker drew inspiration from Formula One single-seaters, and every button has been developed to provide “the most harmonious combination of mechanical and acoustic feedback based on more than 20 evaluation tests with Ferrari test drivers.”
Instrument Cluster and Displays
There are three displays in the Luce — a driver binnacle, control panel, and rear control panel, which have all been “meticulously designed for clarity and purpose.”
The binnacle moves with the steering wheel and is optimized for the driver’s view of the instrumentation and supporting driver performance.
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- Credit: Ferrari
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- Credit: Ferrari
Displays are crafted by Samsung and were specifically designed for the car, using a “world first – three large cutouts strategically reveal the information generated by a second display behind the top panel, creating a fascinating visual depth that captures the eye.”
Samsung Display engineers created an ultra-light, ultra-thin OLED panel for the vehicle.
Credit: Ferrari
Pricing is still what remains a mystery within the Luce project. Past reports have speculated that the price could be at least €500,000, or $535,000.
Elon Musk
Elon Musk pivots SpaceX plans to Moon base before Mars
The shift, Musk explained, is driven by launch cadence and the urgency of securing humanity’s long-term survival beyond Earth, among others.
Elon Musk has clarified that SpaceX is prioritizing the Moon over Mars as the fastest path to establishing a self-growing off-world civilization.
The shift, Musk explained, is driven by launch cadence and the urgency of securing humanity’s long-term survival beyond Earth, among others.
Why the Moon is now SpaceX’s priority
In a series of posts on X, Elon Musk stated that SpaceX is focusing on building a self-growing city on the Moon because it can be achieved significantly faster than a comparable settlement on Mars. As per Musk, a Moon city could possibly be completed in under 10 years, while a similar settlement on Mars would likely require more than 20.
“For those unaware, SpaceX has already shifted focus to building a self-growing city on the Moon, as we can potentially achieve that in less than 10 years, whereas Mars would take 20+ years. The mission of SpaceX remains the same: extend consciousness and life as we know it to the stars,” Musk wrote in a post on X.
Musk highlighted that launch windows to Mars only open roughly every 26 months, with a six-month transit time, whereas missions to the Moon can launch approximately every 10 days and arrive in about two days. That difference, Musk stated, allows SpaceX to iterate far more rapidly on infrastructure, logistics, and survival systems.
“The critical path to a self-growing Moon city is faster,” Musk noted in a follow-up post.
Mars still matters, but runs in parallel
Despite the pivot to the Moon, Musk stressed that SpaceX has not abandoned Mars. Instead, Mars development is expected to begin in about five to seven years and proceed alongside the company’s lunar efforts.
Musk explained that SpaceX would continue launching directly from Earth to Mars when possible, rather than routing missions through the Moon, citing limited fuel availability on the lunar surface. The Moon’s role, he stated, is not as a staging point for Mars, but as the fastest achievable location for a self-sustaining off-world civilization.
“The Moon would establish a foothold beyond Earth quickly, to protect life against risk of a natural or manmade disaster on Earth,” Musk wrote.
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Elon Musk confirms Tesla Semi will enter high-volume production this year
Musk shared his update in a post on social media platform X.
Elon Musk has confirmed that Tesla will begin high-volume production of the Class 8 all-electric Semi this year.
He shared his update in a post on social media platform X.
Musk confirms Tesla Semi production ramp
Tesla CEO Elon Musk reaffirmed on X that the Semi is finally moving into volume production, posting on Sunday that “Tesla Semi starts high volume production this year.”
The update comes as Tesla refreshed its Semi lineup on its official website, an apparent hint that the program is transitioning from limited pilots into wider commercial deployment. As per Tesla’s official website, two variants of the Semi will be offered to consumers: Standard and Long Range.
The Standard trim offers up to 325 miles of range with an energy consumption rating of 1.7 kWh per mile and a gross combination weight rating of 82,000 pounds. The Long Range version pushes driving range to 500 miles, with Tesla noting a higher curb weight of about 23,000 pounds, likely due to a larger battery pack.
Both trims support fast charging, with Tesla stating that the Semi can recover up to 60% of its range in 30 minutes using compatible charging infrastructure.
Broader Tesla Semi rollout
Tesla has already delivered production Semi units to select partners, including snack and beverage giant PepsiCo as well as logistics behemoth DHL, which confirmed that its truck operates daily in California, traveling roughly 100 miles per day and requiring charging just about once a week.
The company has also partnered with Uber Freight, as noted in a Benzinga report, with Tesla executives previously describing the agreement as a way for fleet operators to experience the Semi’s lower operating and maintenance costs firsthand.
With Musk now publicly committing to high-volume production, the Semi appears poised to move beyond pilot programs and into scaled commercial use, an important step in Tesla’s wider push to electrify heavy-duty and long-range trucking.
Ferrari Luce EV: Italian supercar maker reveals interior and interface design
Elon Musk pivots SpaceX plans to Moon base before Mars
