Connect with us

Published

on

MicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.

Joe Raedle | Getty Images

MicroStrategy‘s HODL strategy is continuing to reward investors.

The company said on Monday that it acquired an additional 3,000 bitcoins for a total of $155 million between Feb. 15 and Feb. 25. MicroStrategy, along with its subsidiaries, now owns about 193,000 bitcoins worth $11 billion.

Michael Saylor, the company’s chairman and ex-CEO and one of the cryptocurrency’s principal evangelists, touted the latest purchase in a post on X, noting that MicroStrategy’s average purchase price over time is $31,544. As of Tuesday, bitcoin is trading at just under $57,000.

MicroStrategy shares surged 16% on Monday and another 10% on Tuesday to close at $871.80.

Founded in 1989, MicroStategy has a business in enterprise software and cloud-based services, but its shareholder value is almost entirely tied to its bitcoin ownership, effectively making the company a proxy for the world’s biggest cryptocurrency.

During MicroStrategy’s latest earnings call on Feb. 7, CFO Andrew King said the company is “the largest corporate holder of bitcoin in the world, and we have remained committed to our bitcoin acquisition strategy with the highest conviction.”

Bitcoin has jumped about 35% this year to its highest since December 2021. Ether, the next-biggest cryptocurrency, is up 42% in 2024, climbing to around $3,250 on Tuesday.

MicroStrategy Co-Founder Michael Saylor: There's 10 years of pent up demand for these bitcoin ETFs

Investors have been increasingly bullish on the bitcoin trade following the SEC’s approval of multiple spot bitcoin exchange-traded funds last month. Bitcoin is up 24% since new ETFs began to trade on Jan. 11, and the funds have brought in billions of dollars in flows.

“The demand that ETFs are bringing to the spot bitcoin market is significantly more than the new supply being produced each day,” said Ryan Rasmussen, an analyst at Bitwise Asset Management. “Institutional capital is still getting up to speed with bitcoin ETFs. I expect a lot more demand is still under the surface and yet to be seen.”

Also buoying trader sentiment is the “halving” event, which occurs every four years and is next set for April. At that point, the production of bitcoin gets cut in half, a process meant to reduce the rate at which new coins can enter the network.

Halvings precede bull runs

The first three halvings — in 2012, 2016, and 2020 — were all tied to bull runs in the price of bitcoin. Research firm Benchmark said in a note on Tuesday that the most recent halving in May 2020 “preceded bitcoin’s dramatic rise from $8,572 to an all-time high of $67,566 in 2021.”

MicroStrategy announced its plan to invest in bitcoin in mid-2020, disclosing in an earnings call that it would commit $250 million over the next 12 months to “one or more alternative assets,” which could include digital currencies like bitcoin. At the time, the company’s market cap was about $1.1 billion.

In the fourth quarter of 2023, the company had its largest single quarterly increase in bitcoin holdings since the end of 2020. Meanwhile, its software and services business generated about $124.5 million in sales in the fourth quarter.

The company is up 33% so far this year, lifting its market cap to almost $15 billion.

Benchmark wrote in its report that even with ETFs providing more ways for investors to access bitcoin, MicroStrategy’s “stock continues to offer investors a unique value proposition.” For example, MicroStrategy has the ability to acquire bitcoin using proceeds from debt and equity issuances, the firm said.

Analysts at TD Cowen wrote in a note on Tuesday that they expect the bitcoin transactions to “prove over time to be accretive to shareholders.”

“MicroStrategy represents a new kind of firm that generates dollar-based cash flow from enterprise software and cloud services but then converts its excess cash flow – on an effectively leveraged basis – into Bitcoin,” the TD Cowen analysts wrote. “What started as a defensive strategy to protect the value of its reserve assets has become an opportunistic strategy intended to accelerate the creation of shareholder value.”

CNBC’s Dylan Butts and Ari Levy contributed to this report.

MicroStrategy buys another 3,000 bitcoin, total holdings now worth about $10.3 billion: CNBC Crypto World

Continue Reading

Environment

Tesla hints at finally producing the next-gen Roadster in new job listing

Published

on

By

Tesla hints at finally producing the next-gen Roadster in new job listing

Tesla is talking about finally bringing the next-generation Roadster to production in new job listing.

However, you shouldn’t hold your breath.

The prototype for the next-generation Tesla Roadster was unveiled in 2017 and was supposed to enter production in 2020, but it has been delayed each year since then.

It has become a running gag in the Tesla community and an example of CEO Elon Musk’s tendency to stretch the truth about timelines.

Advertisement – scroll for more content

Since missing its original 2020 production timeline, Musk has given six updated production timelines for the new electric supercar, and each has been wrong.

The latest timeline hasn’t even been about producing the vehicle. It has been about the unveiling of a new version of the next-generation as the last prototype of what is supposed to be a “next-gen” car was unveiled almost a decade ago.

Musk has been talking about an unveiling and demonstration of the New Roadster by the end of the year.

This week, Tesla has posted a new job listing for a ‘Manufacturing Engineer, Roadster‘. In the job description, Tesla mentions working on battery manufacturing equipment for the Roadster:

Tesla is looking to hire a Manufacturing Engineer to contribute to the concept development and launch of battery manufacturing equipment for our cutting-edge Roadster vehicle. In this role you will take large scale manufacturing systems for new battery products and architectures from the early concept development stage through equipment launch, optimization and handover to local operations teams. Battery development is at the heart of our company, and this is an exciting opportunity to work directly on the central challenges for the all-new Roadster product architecture while still in its early development stages.

The comment does point to Tesla starting to set up manufacturing for the production of the new Roadster.

Since this does sound like early manufacturing development work, it would be optimistic to hope to see new Roadsters rolling off the production line by the end of next year. More likely to be in 2027.

In its updated annual installed production capacity chart, Tesla listed Roadster production as still being in the “design development” phase as of last week:

The location of Roadster production is also listed as “to be determined.”

The new job listing for a manufacturing engineer on the Roadster program mentions being based in Fremont, which could mean Tesla plans to launch production at its California factory.

Tesla next-gen Roadster

Tesla Roadster

As unveiled in 2017, the new Roadster was supposed to get 620 miles (1,000 km) of range and accelerate from 0 to 60 mph in 1.9 seconds.

It was listed for $200,000, and a “Founder Series” was also offered for $250,000.

At the time, Tesla used the Roadster as a prize for its referral program when it badly needed to generate sales. A few dozen Tesla owners referred enough new sales to win one or two free new Roadsters each.

Some have suspected that Tesla didn’t want to bring the vehicle to production because it would have to deliver over 30 of them for free and hundreds more at heavy discounts due to its original referral program.

Others believe that updates to the vehicles have led to delays.

Shortly after the unveiling of the next-gen Roadster in 2017, Musk discussed adding cold-air thrusters to the supercar to deliver unprecedented racing performance and possibly even allow it to hover over the ground.

The CEO referenced demonstrating that the “Roadster can fly” on several occasions in the last few years.

Electrek’s Take

It looks like we are talking about the Roadster possibly coming to market in 2027—maybe late 2026 at the earliest.

That’s roughly 10 years after it was unveiled.

I’ll believe it when I see it. And if it does happen, I might have one or two flying Roasters for sale.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

TV brand SHARP gets into the EV game with this living room on wheels

Published

on

By

TV brand SHARP gets into the EV game with this living room on wheels

Just like it says on the tine: TV brand SHARP is following Sony into the automotive space with the new LDK+ concept that transforms into a mobile movie theater. It’s a type of concept we’ve seen before – but not like this!

The SHARP LDK+ promises to be a Living room, a Dining room, and a Kitchen on wheels – and more (the plus, obviously), building off the decidedly more blobular™ concept first shown back in 2024. This updated version, however, takes the LDK concept and brings it significantly closer to reality by basing it on Foxconn’s “Model A EV by Hon Hai Technology Group” chassis.

And, now that it’s a little bit closer to some kind of reality, it might be time to climb on the SHARP hype train and take a minute to genuinely enjoy the movie/gaming environment the company is promising to deliver with the LDK+ concept.

Get hyped, kids


SHARP LDK interior, by the Yomiuri Shimbun; via The Japan News.

Not to be overly crude here, but if you roll in a van with a sliding projector table, opaque windows, and fully reclining seats, you probably hit the “family planning” section of your local Walgreens on a regular basis. Similarly, as more and more young people find themselves struggling to afford their own space, offering a vehicle that delivers a little privacy. And even if that’s more Netflix than chill, I think it’s bound to find a few buyers.

Advertisement – scroll for more content

Whether I’m right or wrong about that will remain to be seen for a while, however. The official press release is light on specs, offering the following description of the LDK+ concept …

The second iteration of “LDK+” retains the original concept while featuring both high maneuverability with its compact body and a spacious, relaxing interior. Developed based on the“Model A” EV by Hon Hai Technology Group (Foxconn), this compact minivan model offers an expansive cabin layout.

When parked, the vehicle can be used as a theater room or a remote workspace. A console box equipped with a table and projector is placed between the driver’s and passenger’s seats. By swiveling the driver’s seat to face backward, it creates a living room-like atmosphere where you can sit around with the rear seats. Pulling down the screen installed above the rear seats allows you to enjoy movies or conduct online meetings on a large display. Through Sharp’s AIoT platform, which connects AI and home appliances, the vehicle links with household devices such as kitchen appliances, air conditioning, and laundry systems. The AI learns residents’ lifestyles and preferences, creating personalized new ways of living. In addition, the system can connect with V2H (Vehicle to Home) solutions, enabling efficient energy management by integrating solar power generation and residential storage batteries.

SHARP

… but skipping automotive basics like battery capacity, anticipated driving range, and the usual horsepower and torque figures. Pricing and, perhaps most importantly, when the vehicle might see the light of day weren’t revealed, either.

SHARP LDK+ concept


All of which is to say: they’re probably never going to actually build something like this – and that’s too bad, because a new-age Honda Element/Nissan Cube-style boxy little EV would absolutely sell like hotcakes.

SOURCE | IMAGES: SHARP, The Japan News.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Forget the myths: EV batteries are now more than 99% recyclable

Published

on

By

Forget the myths: EV batteries are now more than 99% recyclable

All those people who want you to believe mining for EV batteries is as dirty as drilling for oil? They don’t want you to know about recycling – and they really don’t want you to know about a new pilot recycling program is promising a radical leap in battery recycling efficiency, with recovery reportedly rates exceeding 99% for critical metals like nickel, cobalt, and manganese.

Thanks to a new, highly detailed, and (crucially) enforceable regulatory framework of 22 national standards backed by a newly formed national technical committee, a team of Chinese-led researchers is raising the bar when it comes to battery recycling efficiency.

These new standards brings together stakeholders from raw material supply, battery production, recycling and dismantling, and chemical processing disciplines to address battery recycling needs across automotive, marine, and energy storage applications. The rules feature titles like, “Vehicle power battery recycling and dismantling specification,” and, “Vehicle power battery remaining energy detection (standard),” and provide the nation’s auto industry with clear and uniform procedures for handling retired batteries.

The results of a single, standardized approach have been revolutionary, and companies adhering to the new protocols are, according to CarNewsChina, seeing recovery rates of 99.6% for nickel, cobalt, and manganese, and an impressive 96.5% for lithium – figures that were once considered a distant goal for the global industry.

Advertisement – scroll for more content

Electrek’s Take


EV battery recycled metals
Reclaimed battery materials; by BASF.

Despite being presented as an environmental liability, EV batteries represent a single sunk carbon cost that diminishes rapidly over time. Simply put: the more you use an EV battery, the greener it gets – and now that more than 99% of the battery materials can be recycled and reused in batteries that are as good as or better than they were the first time around, the batteries can become a predictable source of critical raw materials, generating significant economic value while drastically reducing the need for virgin mining and encouraging domestic job growth.

Too bad our own US policymakers can’t get this one right.

SOURCE | IMAGES: CarNewsChina; Enel.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending