Last week, one car enthusiast (“nsxtra” on Instagram) released a video on YouTube in which he described how he sold 37 BTC — worth over $2.1 million at today’s prices — a few years ago to pay for two second-hand Honda NSX sports cars.
The Honda NSX, which is marketed in North America as the Acura NSX, is “a two-seat, mid-engine coupe sports car manufactured by Honda.”
In this video, which was released on February 15 on his YouTube channel “NSXTRA“, Chris Cuff, told the story of how he came to spend 37 BTC on two used Honda sport cars:
The first car is a red Honda NSX Targa:
“It has high milage. I drive it a lot. It was my dream car since I was younger… I bought it on Valentine’s Day in 2017. And at the time, this NSX being a Targa under 50 grand is a great price At the time, there was no Targas in the country listed for under $55,000 for high mileage ones.
“I got this NSX and I have never told anybody this. Everybody asked me how much I paid for it. It was hard to say at the time… I’m just gonna come clean; here it is: I got this NSX for a steal. I got it for $30,500.”
The second Honda NSX, which is not a Targa model. He bought it on Black Friday of 2018 from a friend, and he paid around $26,000 for it.
Four years after he bought the first car, i.e. on Valentine’s Day 2021, Cuff got to think about these two purchases:
“So, I actually paid for these cars with Bitcoin, and at the time, I didn’t care. I was like, oh, you know, I got some Bitcoin, I made a wise investment, I’m gonna give myself a treat, I’m gonna gift myself a car, it’s gonna bring me some happiness, it’s gonna give me something to do, and it’s an achievement unlocked kind of thing… and I absolutely love these cars.
“I still do. I will probably always own an SX for the rest of my life… but I started doing some math and it made me kind of kick myself in the ass.”
Cuff says he feels “pretty depressed” because on the day he made this video, Bitcoin was trading around $49,000, which means that for the second NSX, he spent around 6 BTC in 2018 (equivalent to around $294,000 on 14 Feb 2021) since Bitcoin was trading around $4300 on the date of that purchase and for the first NSX, he spent around 30.5 BTC in 2017 (equivalent to almost $1.5 million) since Bitcoin was trading around $1000 on the date of purchase.
Had he kept those 36.5 BTC, Cuff’s Bitcoin holdings would be worth around $2.1 million at today’s prices (as of 21:30 UTC on February 21, since Bitcoin is currently trading around $57,500).
Cuff didn’t leave crypto after these two purchases, but sadly the majority of his BTC is now gone.
Featured Image by “1319631” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.