Tesla most likely won't sell their BTC holdings because:
1.There's no need for them to sell their BTC.AFAIK,Tesla doesn't need cash right now.
2.Capital gains tax.
3.The news of Tesla selling their BTC could be recognized as a bearish signal and the market might begin panic selling and pushing the price back to 50K USD.However,this might not be a valid reason,because Elon Musk or the other Tesla shareholders don't care about the Bitcoin price that much.
Like other forum members said,the fact that Tesla made profits out of holding/selling Bitcoins doesn't mean that they will buy more Bitcoins.I think that Tesla will always stay focused on their electric car/Li-ion battery business and they would never turn into some kind of investment fund or a cryptocurrency company.
Topic: [2021-10-21] Tesla Made $1.3B on Bitcoin But Didn’t Buy the Dip in Q3 (Read 77 times)
October 25, 2021, 06:47:33 AM
October 25, 2021, 05:06:31 AM
I don't know who should be called a stupider, the author of the article, or the one who posts articles like this on the forum - especially if we discussed this 10 days ago in the BD board. Tesla as a company did not profit because it did not sell BTC, and how can anyone even know whether or not they bought a dip, if we know that Tesla invested in BTC in Q4 2020, and the news was made public only after 3 months.
October 24, 2021, 07:11:05 PM
I keep asking myself:
what's the point of them talking about it if they didn't even sell it to make a profit? what are waiting for? that the price reaches $100,000 to sell? want to do eternal hodl?
Why don't they sell and then buy on the dip?
they are a company whose objective is to make profits, what is the point of also doing eternal hodl?
what's the point of them talking about it if they didn't even sell it to make a profit? what are waiting for? that the price reaches $100,000 to sell? want to do eternal hodl?
Why don't they sell and then buy on the dip?
they are a company whose objective is to make profits, what is the point of also doing eternal hodl?
October 24, 2021, 06:49:11 PM
They've made a huge unrealized profit and it's unknown what's going to be their next move. If the market plunges a lot, there's a likely that they've sold most of their profits and took it already.
But as the owner, Elon, he's always been playing from time to time with his stance about bitcoin. Sometimes he's liking it, sometimes he's telling negative things about it. Just to play around the price and I think we'll eventually see that Tesla won't accumulate anymore and will stick to their current holdings.
But as the owner, Elon, he's always been playing from time to time with his stance about bitcoin. Sometimes he's liking it, sometimes he's telling negative things about it. Just to play around the price and I think we'll eventually see that Tesla won't accumulate anymore and will stick to their current holdings.
October 22, 2021, 04:19:20 PM
That remaining BTC is now worth an estimated $2.8 billion giving the company an unrealized profit of $1.3 billion.
Yes, they had profited out but doesnt mean that they would reconsider on re-investing with bitcoin or buying on the dip.Its their funds then Tesla would have the full rights on what are the things they should gonna do but it seems they arent really interested that much on accumulating more coins and that initial purchase that had profited already might be their final and wont be tending to add up
anymore but well everything could change along the way and we dont know on whats up into their minds in related to this one.Lets just see and wait on what are their possible future
move or decisions be made ahead.
October 21, 2021, 12:17:17 PM
Tesla’s venture into the bitcoin markets earlier this year has paid dividends with unrealized gains topping a billion dollars at current prices.
Elon Musk took a huge gamble when his firm Tesla purchased $1.5 billion worth of bitcoin back in January. At the time of purchase, it was estimated that BTC was trading in the low $30,000 zone.
Tesla sold around 10% of its bitcoin stash in Q2 in a move that boosted that quarter’s earnings by $272 million. The company still holds an estimated 43,200 BTC according to BitcoinTreasuries.
That remaining BTC is now worth an estimated $2.8 billion giving the company an unrealized profit of $1.3 billion. The value of its holdings has increased 86% since that initial purchase.
Tesla is the second-largest corporate holder of bitcoin behind MicroStrategy which holds 114,041 BTC worth an estimated $7.4 billion at current prices.
Source and continuation of news: https://beincrypto.com/tesla-made-1-3b-on-bitcoin-but-didnt-buy-the-dip-in-q3/
Elon Musk took a huge gamble when his firm Tesla purchased $1.5 billion worth of bitcoin back in January. At the time of purchase, it was estimated that BTC was trading in the low $30,000 zone.
Tesla sold around 10% of its bitcoin stash in Q2 in a move that boosted that quarter’s earnings by $272 million. The company still holds an estimated 43,200 BTC according to BitcoinTreasuries.
That remaining BTC is now worth an estimated $2.8 billion giving the company an unrealized profit of $1.3 billion. The value of its holdings has increased 86% since that initial purchase.
Tesla is the second-largest corporate holder of bitcoin behind MicroStrategy which holds 114,041 BTC worth an estimated $7.4 billion at current prices.
Source and continuation of news: https://beincrypto.com/tesla-made-1-3b-on-bitcoin-but-didnt-buy-the-dip-in-q3/
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