The Wall Street Journal (WSJ) recently highlighted that Elon Musk’s SpaceX wrote down $373 million worth of Bitcoin (BTC) from 2021 to 2022. This is speculated to be the cause of the recent $2000+ crash in the price of BTC.
While speculation remains about the exact situation of Elon’s BTC, one fact the crypto space is experiencing is the almost complete stage 3 of the InQubeta (QUBE) presale.
Paper hands
On August 17, the price of BTC dropped from about $28,400 to $25,649 following a report from the WSJ, which highlighted that SpaceX, Elon Musk’s aerospace technology firm, wrote down the value of some amount of BTC in a two-year period.
“SpaceX wrote down the value of bitcoin it owns by a total of $373 million last year and in 2021 and has sold the cryptocurrency,“ the mainstream media outlet reported. This discovery was reportedly made after viewing documents on SpaceX’s financials.
While it is yet to be confirmed whether the entire $373 million stash has been sold, the discovery has sparked confusion in the crypto world. This news is also believed to be one of the main causes of the BTC price drop, although some crypto players deny that it was a catalyst.
The questions around the actual state of SpaceX’s BTC holdings keep swirling across the ecosystem. However, recognizing Elon Musk as having “paper hands,” meaning he cannot hold his crypto long-term, Bitcoin proponents call on traders and investors to hodl and resist the manipulative tendencies of fear, uncertainty, and doubt (FUD).
Currently exchanging hands at $26,079 according to CoinMarketCap, as of the time of this writing, BTC is leaving analysts and observers contemplating its direction. This is not so for the AI crypto, $QUBE, of the InQubeta ecosystem, which is fast approaching a sell-out in the third stage of its presale.
The QUBE Token Sell-Out
Because of its innovative approach to addressing the challenge of funding for AI startups, InQubeta has gained impressive attention from crypto investors and observers alike.
By creating a platform, its NFT marketplace, that enables fractional investment in AI startups through the use of $QUBE, InQubeta has presented a democratized investment ecosystem that is accessible to a wide range and tier of investors.
AI startups can raise funds by offering rewards and equity-based NFTs for investors to buy. Different levels of investors, irrespective of income class, can participate as the marketplace allows NFTs to be minted as investment opportunities and then represented as fractionalized parts.
QUBE offers a rare opportunity for individuals who are passionate about the growth and success of AI technology to invest in the growing AI industry, which, according to Statista, has a value of nearly $100 billion, is expected to grow twentyfold by 2030, up to nearly $2 trillion, and covers a vast number of industries.
The InQubeta whitepaper reveals that, as a deflationary token on the Ethereum blockchain, QUBE is more than just purchasing power for NFTs.
The token also offers staking rewards and makes governance participation possible. The token has “a 2% tax on all buys and sells going to a burning wallet, which helps increase the token’s value over time.
Additionally, QUBE has a 5% sell tax that goes to a dedicated reward pool, allowing investors to earn rewards by staking their tokens.”
As QUBE empowers the growth of AI startups, it gains relevance not just in the crypto ecosystem but also in the AI industry. The InQubeta team is prepared for the different spaces it fills, as evident in the KYC audit by BlockAudit and the token audit by Hacken.
Having raised over $2.2 million and with almost 80% gone in the presale stage 3, QUBE is definitely about to help investors shape the next generation of tech innovation.
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