It has been reported that Cut’s February 16 YouTube video titled “Idiot Spends $1.8 Million of Bitcoin on Old Hondas” reveals how much he regrets spending large amounts of Bitcoin at today’s prices on the classic sports cars.
However, the first car in question is a Honda NXS Targa that he bought on Valentine’s Day in 2017 by claiming to have got it for a “great price” of $30,500, which he paid in Bitcoin, calling it “a steal.”
The report said that on the day he bought the Targa in 2017, BTC was trading around a thousand dollars a coin so the car cost him 30.5 BTC. At today’s Bitcoin prices, the car set him back almost $1.5M. He added that he parted with 6.5 BTC to pay for another Honda on Black Friday 2018 when Bitcoin was trading at $4,300. That amount of Bitcoin would have been worth $293,000 using BTC prices on February 14 when the video was shot.
Cut revealed that he was not bothered about paying in BTC for the cars at the time. But four years later the realization of his lost gains has set in.
Honda NSX aficionado Chris Cut regrets spending 37 BTC on a couple of used cars in 2017 and 2018. https://t.co/ediI6xkCzc — Cointelegraph (@Cointelegraph) February 17, 2021
“But then I started doing some math and it made me kick myself in the ass and I feel pretty depressed.”
Likewise, at current Bitcoin prices, he spent the equivalent of $1,773,000 on two used Hondas.
Thus, he said:
“I obviously have regrets about that because I can buy a lot of NSXs today for that price. […] Essentially I turned 37 Bitcoins into 2 Bitcoins.”