It has been quite some time (4 months) since I last calculated my progress towards buying a Model 3. Let's see whether there is any progress since then.

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My Crypto portfolio

As of today my crypto portfolio consists of €2,805 in BTC and ETH. My Hive wallet has an estimated value of €950 and I have some €550 in other Hive-related Tokens (mostly SPI, AFIT and AFITX). That means my portfolio has a value of €4,305.

Progress to Model 3

The starting price of a Model 3 is €48,980 here in The Netherlands.

Based on these numbers I now own enough crypto-money to buy 8.8% of a Model 3. Compared to the last time I calculated my progress (which was 6,6% for a SR Model 3), I've made a nice progress (mainly because of the hard fork and the recent rise of the price of Hive). Still I need to make a lot more money in crypto before the Model 3 is starting to get in reach.

Some alternatives

I've now been investing/saving for a Model 3 for over two years. And this is the closest I've come so far. At the current rate it means I need about 20 more years to finally be able to afford a (new) Model 3. Maybe it's time to look for some alternatives.

Škoda CITIGOe IV

The cheapest (or better: most affordable) EV you can currently get is the Škoda CITIGOe IV. It has a starting price of €22,320 and has a decent range and charging capabilities. It however is quite a small car.

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Based on my current holdings I'm at 19.3% of the starting price. A lot closer than the M3, especially since I do have some savings that I can also use to buy a car, but still far off. Let's look at another possibility.

Nissan Leaf (used)

The Nissan Leaf is a lot bigger than the CITIGO, probably comparable or just a bit smaller than the Model 3. That also makes that the price for a new one also isn't affordable (for me) yet. Therefore I had a look at the second hand car market and found one for as little as €6,950. That however does mean that it is a first generation car from 2011 and that the range is less than 100 km on a full charge.

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The good news is that I already own enough crypto to buy 62% of the car. Together with some of my savings I can buy the car outright. I however won't do that since I don't (yet) want to take all of my money from the crypto space. And honestly: I don't really need a car (with these characteristics).