Topic: [2021-02-08] BREAKING NEWS: TESLA BOUGHT $1.5 BILLION IN BITCOIN — SEC (Read 260 times)
February 12, 2021, 09:32:11 PM
@kjlimo. The skeptical me thinks that he only wants Tesla stocks to pump similar to Microstrategy stocks hehe. Also read my post. Similar to what Michael Burry has said, Elon’s bitcoin move might only be a distraction from Tesla being summoned by Chinese regulators. I am also skepitcal about the summon. It might not be really about consumer complaints.
February 12, 2021, 07:49:11 AM
I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?
Should I contact my local dealer?
Should I contact my local dealer?
Thanks for the responses on Tesla... so I called up my local Tesla Cleveland location. There are no plans for accepting bitcoin payments at this time. "Mr. Musk likes to say a lot of things, but we don't believe anything until it's on tesla.com." Of course I offered my assistance to set them up to accept bitcoin payments... which was met with chuckles... I'll keep you posted if a path to reality ever emerges!
https://www.facebook.com/MontyBitcoin-109179704163890
Cheers
February 11, 2021, 10:15:21 PM
@Theb. Agreed! However, from bitcoin’s price today, how much is it to maximize their returns? Triple the price? I speculate Tesla is expecting not less than 5x profit from the trade. This might only be beginning. Other billionaires are also beginning to consider bitcoin. The bear market will be intruiging, however hehehe.
They won't look at how much percentage gain they will have from their Bitcoin investment but they might just look at their investment if they are in fact earning anything out of it. We are talking about the cash reserves of the company meaning they are only using the extra funds lying around in their company without any use that is why most companies are using it to invest in assets to "maximize returns" but when the time comes these companies who have invested their cash reserves have financial trouble or have decided to expanded or just needed the money for other projects then they can pull out anytime without even thinking about maximizing the returns. That is how a company works and I don't think companies who have invested in Bitcoin are planning to hodl their position for a very long time.
I reckon that maximize returns implies that Tesla will also dump anytime in case the investment does not maximize returns.
Also, this news. Michael Burry is short on Tesla. This might be biased opinion, however, he was right on the big short of 2007.
'Big Short' investor Michael Burry says Tesla's $1.5 billion bet on Bitcoin was a distraction
"Chinese regulators summon Tesla on quality issues as consumers complain about quality ... but $TSLA bought $BTC," the Scion Asset Management boss tweeted, using the tickers for Tesla and Bitcoin. "In my mind's eye, so much #digitalconfetti."
In other words, Burry thinks Tesla may have timed its $1.5 billion purchase of Bitcoin to distract from its China troubles.
Source https://www.businessinsider.com/big-short-investor-michael-burry-questions-tesla-bitcoin-dogecoin-bubble-2021-2
February 11, 2021, 08:25:22 PM
do not forget the important role of Elon Musk in Paypal.
and the recent evolution of Paypal towards bi tcoin.
are these two things linked ?
C-level executives certainly talk to each other, that is for sure. Musk, as you correctly point out, had a huge role at PayPal and therefore it would not surprise me if he had a chat last year about bitcoin with PP current CEO. Bitcoin is the new game in town, an opportunity not to be missed for those who want to lead innovation in the years to come. I expect more companies to follow suit.and the recent evolution of Paypal towards bi tcoin.
are these two things linked ?
https://twitter.com/DoveyWan/status/1359537256994729988/photo/1
February 11, 2021, 02:17:14 PM
@Theb. Agreed! However, from bitcoin’s price today, how much is it to maximize their returns? Triple the price? I speculate Tesla is expecting not less than 5x profit from the trade. This might only be beginning. Other billionaires are also beginning to consider bitcoin. The bear market will be intruiging, however hehehe.
They won't look at how much percentage gain they will have from their Bitcoin investment but they might just look at their investment if they are in fact earning anything out of it. We are talking about the cash reserves of the company meaning they are only using the extra funds lying around in their company without any use that is why most companies are using it to invest in assets to "maximize returns" but when the time comes these companies who have invested their cash reserves have financial trouble or have decided to expanded or just needed the money for other projects then they can pull out anytime without even thinking about maximizing the returns. That is how a company works and I don't think companies who have invested in Bitcoin are planning to hodl their position for a very long time.
February 10, 2021, 02:08:05 PM
do not forget the important role of Elon Musk in Paypal.
and the recent evolution of Paypal towards bi tcoin.
are these two things linked ?
C-level executives certainly talk to each other, that is for sure. Musk, as you correctly point out, had a huge role at PayPal and therefore it would not surprise me if he had a chat last year about bitcoin with PP current CEO. Bitcoin is the new game in town, an opportunity not to be missed for those who want to lead innovation in the years to come. I expect more companies to follow suit. and the recent evolution of Paypal towards bi tcoin.
are these two things linked ?
February 09, 2021, 11:35:19 PM
Although this is great news, I don't understand why Elon is not making any direct investment in Bitcoin. Tesla has made the investment, but Elon has made it clear that he owns only BTC0.25 in cryptocurrency and even that was received as a gift many years back. And also, I am not comfortable with his shilling of DOGE. If he promotes both BTC and DOGE, then he is indirectly linking DOGE shitcoin with Bitcoin, and that is not going to be beneficial for the latter.
February 09, 2021, 10:29:17 PM
do not forget the important role of Elon Musk in Paypal.
and the recent evolution of Paypal towards bi tcoin.
are these two things linked ?
and the recent evolution of Paypal towards bi tcoin.
are these two things linked ?
February 09, 2021, 09:19:07 PM
@Theb. Agreed! However, from bitcoin’s price today, how much is it to maximize their returns? Triple the price? I speculate Tesla is expecting not less than 5x profit from the trade. This might only be beginning. Other billionaires are also beginning to consider bitcoin. The bear market will be intruiging, however hehehe.
February 09, 2021, 04:12:50 PM
Let us not be overly positive with this news the keyword here is "maximize returns" for their cash reserves meaning Tesla/Elon Musk here isn't planning to hodl Bitcoin for long and he is here to profit on their cash reserves which depending on the company's liquidity practices might end up being short as soon as they see a good gain for their money. This is the same thing as what I have said with Microstrateg investing millions in Bitcoin as these companies doesn't only act up as huge commercial money being poured in the market but they also act as a big influence in the market. If we have seen a price rally just because these companies buy Bitcoin just think about what will happen next when they are ready to sell their Bitcoin because I'm sure they can start a FUD once they decide to sell.
February 09, 2021, 02:51:35 PM
In our time, buying bitcoins is very relevant, it is not surprising that Elon Max did just that. Now Bitcoin will grow from $ 30,000 to $ 50,000 or even higher
February 09, 2021, 02:00:49 PM
I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?
Should I contact my local dealer?
Before making the final announcement of accepting Bitcoin Tesla will definitely notify their worldwide community about it and you should wait for that. As far as i know still Tesla is planning to accept bitcoin payment and hopefully we will get final lead from their Founder Elon Musk. In this case you can follow him on twitter or Tesla's official website. Should I contact my local dealer?
February 09, 2021, 01:32:33 PM
One of the greatest thing that do happen aside on that Paypal integration news.Imagine on how these things does have some significant impact on the
entire market.It had driven off past its ATH and now we are almost reaching 50k.Adoption and recognition is on the move and i wont be surprised
if there are more big companies out there or billionaires will really be going into the same path.
That would be your best shot but since this is just pretty new then i doubt that they had directly impose it in all dealers nationwide
but if you are really that in a hurry then going yourself to the dealer will clear up those questions in mind.
entire market.It had driven off past its ATH and now we are almost reaching 50k.Adoption and recognition is on the move and i wont be surprised
if there are more big companies out there or billionaires will really be going into the same path.
I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?
Should I contact my local dealer?
Should I contact my local dealer?
That would be your best shot but since this is just pretty new then i doubt that they had directly impose it in all dealers nationwide
but if you are really that in a hurry then going yourself to the dealer will clear up those questions in mind.
February 09, 2021, 04:52:14 AM
Let us ride the rocket this is Elon we are talking about
At the very least he will bring money in that was observing on the sidelines
Glad to hodl and be on the ride haha
At the very least he will bring money in that was observing on the sidelines
Glad to hodl and be on the ride haha
February 09, 2021, 04:06:05 AM
" Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt. " .... this is a very crucial part in this whole statement, because they cannot accept it as a payment option ...if the government does not allow it. 
We know "butthurt" Yellen wants to take revenge on Bitcoin, because "The Bitcoin Guy" humiliated her on a public platform, so she will do everything in her power to hurt Bitcoin with strict regulations.
The fact that Elon Musk came from a payment system background, gives credibility to his decision and his vision for this investment. Let's hope he can turn Bitcoin into a currency and not a commodity.
(This is kinda like the Pizza Guy moment for Bitcoin)
Tesla will find a way for sure: probably the easiest solution, even if it sounds a bit of nocoinery, would be to get BTC that are automatically converted into dollars which can be then used to re-buy btc. This could be perfectly legal though it does not sound very appealing. We know "butthurt" Yellen wants to take revenge on Bitcoin, because "The Bitcoin Guy" humiliated her on a public platform, so she will do everything in her power to hurt Bitcoin with strict regulations.
The fact that Elon Musk came from a payment system background, gives credibility to his decision and his vision for this investment. Let's hope he can turn Bitcoin into a currency and not a commodity.
(This is kinda like the Pizza Guy moment for Bitcoin) February 09, 2021, 02:01:50 AM
" Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt. " .... this is a very crucial part in this whole statement, because they cannot accept it as a payment option ...if the government does not allow it.
We know "butthurt" Yellen wants to take revenge on Bitcoin, because "The Bitcoin Guy" humiliated her on a public platform, so she will do everything in her power to hurt Bitcoin with strict regulations.
The fact that Elon Musk came from a payment system background, gives credibility to his decision and his vision for this investment. Let's hope he can turn Bitcoin into a currency and not a commodity. (This is kinda like the Pizza Guy moment for Bitcoin)
We know "butthurt" Yellen wants to take revenge on Bitcoin, because "The Bitcoin Guy" humiliated her on a public platform, so she will do everything in her power to hurt Bitcoin with strict regulations.
The fact that Elon Musk came from a payment system background, gives credibility to his decision and his vision for this investment. Let's hope he can turn Bitcoin into a currency and not a commodity.
(This is kinda like the Pizza Guy moment for Bitcoin) February 09, 2021, 01:00:07 AM
I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?
Should I contact my local dealer?
So far, this is only at the decision-making level. Practical steps to implement this decision will follow over time. In order to sell its electric cars in practice for bitcoins, this company will have to coordinate this decision with various regulatory and tax authorities for a long time.Should I contact my local dealer?
Of course, Tesla's decision to invest $ 1.5 billion in Bitcoin is very timely to increase the liquidity of the cryptocurrency and the growth of this market.
February 08, 2021, 11:15:08 PM
I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?
Should I contact my local dealer?
Should I contact my local dealer?
February 08, 2021, 10:33:56 PM
Yeah, I better be buying instead of making the announcement. What an idiot!
Ah there will be plenty more opportunities to buy, its just the dips will be higher I suspect.
Agreed. However, most newbies’ reactions to this is to buy other cheaper cryptocoins. Ethereum would certainly be the first receiver of discouraged bitcoin buyers hehe.
In any case, the next bear market will be an intruiging one if considering that Tesla is also a bagholder.
February 08, 2021, 05:21:08 PM
Absolutely @acquafredda
and it wont be long before the time comes where we wont be able to buy Bitcoin below $50k.
Tesla have $20 billion in cash reserves, I would say more of that will find its way into Bitcoin
putting more pressure on supply medium to long term.
and it wont be long before the time comes where we wont be able to buy Bitcoin below $50k.
Tesla have $20 billion in cash reserves, I would say more of that will find its way into Bitcoin
putting more pressure on supply medium to long term.
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