QuantumScape (QS 6.82%) is working to bring major enhancements to the performance of electric vehicle (EV) batteries. Investors hope its solid-state battery technology will become the new standard for EVs globally. As it continues to progress toward commercializing that tech, the stock price is reflecting the company’s recent accomplishments.

QuantumScape shares have soared again this week — up by 37.1% on the week as of noon ET Friday, according to data provided by S&P Global Market Intelligence. Over the last month, the stock has more than doubled.

Image source: QuantumScape.

QuantumScape is almost ready for EV battery cell production

QuantumScape gave investors a nice surprise recently — news that one of its most important 2025 goals has already been accomplished.

The company’s technology includes solid-state batteries with ceramic separators that should lead to safer, faster-charging, and more efficient batteries for EVs. Two weeks ago, QuantumScape announced the successful scale-up of its production capabilities. Its new generation Cobra process will speed up a key ceramic separator production step by approximately 25 times, using equipment that occupies a much smaller footprint than its previous Raptor production process.

That puts QuantumScape on track to launch field testing next year with its automaker customers. Those include global giant Volkswagen, which holds a 17% stake in the battery maker, according to its annual report.

QuantumScape’s solid-state batteries could provide EVs with significantly better travel range on a single charge than currently used batteries, which would help eliminate the range anxiety that has kept many potential EV buyers from considering them. More than 20% of all cars sold globally in 2024 were EVs, according to the International Energy Agency. While that amounted to sales of more than 17 million EVs, it also shows there is still massive growth potential in the market for such vehicles.

An investor update is coming in two weeks

That’s why investors have been getting so excited and piling into QuantumScape stock recently. The company will report its second-quarter results on July 23, at which time investors will get a more detailed overview of its progress and hear more about its next steps.

Some aren’t waiting for that update to own a piece of this promising EV technology company.

Billionaire venture capitalist Chamath Palihapitiya believes that a long-term decline of the US dollar is not an existential concern for America.

In a new episode of the All-In podcast, host Jason Calacanis highlights that the US dollar index (DXY) witnessed its worst first-half performance in over 50 years after losing nearly 11% of its value against other major currencies in the first six months of 2025.

While Calacanis describes the slump as “shocking,” Palihapitiya argues that the dollar has been in decline for decades, and it’s not a major concern because the gains from US assets have consistently outweighed the currency’s depreciation.

“This has been a one-way trade for a very long time, and it’s probably important to understand why that is. And I think it generally has to do with the fact that the United States finances a lot of growth, and that has been the right decision. 

Unless you see a complete collapse in the currency, I suspect that this decay continues to happen. So the question is, is it a bad thing? And the answer is it depends. 

Because if asset prices increase faster than the dollar devalues, you’re still ahead… If you look at asset prices in the United States relative to asset prices any place else in the world, it is the flight to quality, which is to say it is the thing that everybody wants to own. And you see that in the equity markets, you see it in real estate, you see it in hard assets…

The reality is that a lot of people still want to own these assets more than they want to own other assets and those assets are dollar-denominated.”

Palihipatiya also highlights that there will be a constant demand for dollar-denominated assets as long as “there’s American ingenuity and American supremacy,” which would meaningfully offset the downside of holding USD.

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Tesla Inc. still owns about 11,900 BTC. At today’s rate of $108,929.10 per coin, that stash is worth roughly $1.257 billion. According to on-chain data shared by Arkham Intelligence on X, the electric car maker hasn’t budged from its HODL stance since its first big buy in Q1 2021.

Tesla’s Bitcoin Holdings Confirmed

Based on reports, Tesla keeps its coins with Coinbase Prime Custody. The move underlines the firm’s comfort with holding large amounts of Bitcoin.

A drop of 1% in the last 24 hours hasn’t prompted any sell-off. Back in 2021, Tesla spent $1.5 billion to buy Bitcoin. It later sold slices worth about $1.2 billion, but never fully cashed out.

Tesla now holds over $1.25 Billion of BTC.

Elon Musk is bullish on Bitcoin. pic.twitter.com/rNbzOP1QPJ

— Arkham (@arkham) May 23, 2025

Corporate Buyers Step In

More firms are piling into Bitcoin, and they’re buying at scale. Strategy Inc., led by Michael Saylor, holds 576,230 BTC after adding 7,390 coins for $765 million.

That move sent its stock over $400. A tech outfit trading under ticker 3350.T has 7,800 BTC on its books. It plans to reach 10,000 BTC and saw its stock jump 15% after a latest purchase of 1,004 coins.

States Seek Bitcoin Reserves

US President Donald Trump’s return to office this year has sparked fresh interest in public Bitcoin holdings. New Hampshire passed a bill on May 6 that lets certain state funds put up to 5% into Bitcoin and other big crypto assets.

In Texas, the House approved Senate Bill 21 on May 22 by a 101–42 vote, setting up a Texas Strategic Bitcoin Reserve. Governors in both states are weighing when to sign. Arizona also cleared a fund for unclaimed property to go into crypto back on May 7.

Credit: David Paul Morris / Bloomberg / Contributor / Getty Images

A Close Look At The Numbers

Tesla’s 11,900 BTC sits well below its original 43,200-coin haul from 2021. Strategy Inc.’s 576,230 coins are worth over $62 billion at current prices.

The 3350.T outfit’s 7,800 BTC equals about $850 million. State plans vary, but New Hampshire’s cap could see millions shift into Bitcoin this year. Texas’s bill doesn’t set a dollar limit, but any move would mark a first for a major state.

Outlook For Bitcoin Adoption

Investors and public bodies have watched Bitcoin’s price swings for clues before putting money to work. Tesla’s steady hold shows faith hasn’t waned. Corporate purchases keep headlines busy, while state plans hint at a new chapter in US finance.

Market watchers will be looking for signatures on those bills and any fresh moves from other states. For now, the story is clear: big players still see Bitcoin as worth owning.

Featured image from Unsplash, chart from TradingView

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Many altcoins continue to experience sharp price decline, triggering uncertainty among investors about the much-anticipated altseason. As these tokens decrease further, their weak performance has negatively impacted the overall alt market value, leading to one of its biggest drawdowns in history.

Record-Low Drawdowns In Altcoin Market Cap

As negative sentiment grows in the crypto sector, the altcoin market is facing unprecedented challenges in terms of growth. In a recent post, world-leading on-chain data and financial platform Glassnode pointed out a troubling development in the alt market dynamics.

Despite expectations of a market-wide rebound, altcoins are still having difficulty because of shifting moods and macroeconomic uncertainty. Investor caution persists as many choose safer investments, further impeding any possible comeback for alts.

Data from Glassnode reveals that the alt market cap has declined by over $234 billion in the past 2 weeks, reflecting a period of heightened volatility. This broad-based capitulation represents one of the biggest absolute drawdowns the market has ever seen in recent history. 

It also highlights the ongoing weakness across the sector, with few assets holding up. Should the decline extend, the development could shape the market’s next trajectory in the upcoming weeks as volatility persists.

Furthermore, Glassnode noted that the market drawdown is one of the 41 worst moments in about 1662 trading days in terms of percentage. Although it seems severe, it is nevertheless consistent with major sell-offs in 2024. Also, it is significantly less severe than the LUNA/3AC collapses in late 2022 and the miner migration in May 2021.

The altcoin market is currently displaying potential for more correction since major alts failed to initiate a notable rally amid unfavorable conditions. Meanwhile, Bitcoin, the largest crypto asset is still more robust in the waning environment.

Bitcoin’s strong resilience is solely evidenced by investors’ realized losses in the ongoing cycle compared to past scenarios. Glassnode outlined that BTC investors locked in about $520 million in realized losses, which is one of the largest of this cycle. However, while the figures seem huge, it is far below the $1.3 billion recorded during the August 2023 yen-carry whirlwind.

Is The Alts Market Drop A Crucial Move For An Impending Breakout?

The altcoin market decline has caused fear and uncertainty among investors and crypto enthusiasts. Thus MilkyBull Crypto, a market expert and trader addressing the development claims that the drop is crucial for the market’s next trajectory.

This drop comes after the market reached a new all-time high. According to the expert, this is likely a retest before the market will experience a higher run. As a result, the expert urges investors to be steadfast as he foresees a surge to $2.9 trillion market value in the coming months.

Featured image from Unsplash, chart from Tradingview.com