Topic: Effect of Tesla bitcoin sale not significant (Read 526 times)
This proves that the Bitcoin community is very solid and does not care about any issue, as long as Elon Musk Invest Bitcoin many say that Bitcoin is very dependent on Elon Musk, and after they sell Bitcoin and the market looks ordinary this is silent perception and increasingly shows that bitcoin is very promising assets.
I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...
He might have been forced to sell to lower the risk...
This sounds interesting, but I'm certain that another reason was to also have a good looking balance sheet.
Yes, they clearly did it to report positive earnings for their 2nd quarter conference call. According to this article, Tesla sold $936 million and this gave Tesla a quarterly profit of $64 million. If they did not sell their bitcoin, their earnings report would ceratinly be negative.
As per the company's 10-Q filing with the Securities and Exchange Commission (SEC), Tesla sold 75 percent of its bitcoin (BTC) holding for a total of $936 million. In the process, the electric car company made a profit of $64 million in the second quarter of 2022.
Source https://www.cnbctv18.com/cryptocurrency/bitcoin-sale-tesla-nets-64-million-profit-says-filing-with-sec-14257302.htm
Elon Musk didn't explicitly mention that he didn't like bitcoin, even when rumors circulated that he was starting to leave Dogecoin, this is a mess of news that is presented to the public, so that market manipulation can be done his way.
know what/ because this person will never be certain in anything , he will keep changing words and decision from here and there .remember that there are multiple times that This clown make an announcement to only favor him than everyone here.
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He does things only for his personal gain, so that in any way to provide information that he thinks is correct, technological developments must have filters to understand every problem caused by the many articles or news sources that are released.
If people are not selective in receiving information, many things will be harmed. Therefore, it is necessary to analyze and understand something before making a decision
If people are not selective in receiving information, many things will be harmed. Therefore, it is necessary to analyze and understand something before making a decision
Twitter is, yet again, unreliable.
If discussing the twitter dealNope, you've misunderstood me. The context was that on Twitter many were (incorrectly) claiming that Tesla bought high and sold low their bitcoin stash.
That attempt of buying Twitter (or whatever that was) is another story and it's off-topic here.
I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...
He might have been forced to sell to lower the risk...
This sounds interesting, but I'm certain that another reason was to also have a good looking balance sheet.
Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.
I agree with this because it really has a basis.
In fact, some news has indicated that Tesla has an average buy at $29k but I doubt this is the price Tesla bought back after the big sale in May 2021. Although the difference may not seem like much, I think Elon is not an unreliable person and he certainly does not want to hold that huge pressure.
I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...
Tesla can invent many reasons why they have decided to sell their bitcoins, however, the reality might be Tesla cannot hold a speculative investment that brings negative numbers in their monthly income statement during a bear market. It will not attract investors in their stock and will not be good for the price.
Seems like his sell once again triggered a sell off. The weekend has ended and we start the week with a down trend again. Most likely we are headed to the $20k.
It’s crazy how his actions influence the crypto markets. First time he bought we went all the way to $60K. Then he stopped accepting BTC due to environment reasons and caused the first sell off. Now the news that he sold most of his position again looks like it marked a local top.
It’s crazy how his actions influence the crypto markets. First time he bought we went all the way to $60K. Then he stopped accepting BTC due to environment reasons and caused the first sell off. Now the news that he sold most of his position again looks like it marked a local top.
Elon Musk didn't explicitly mention that he didn't like bitcoin, even when rumors circulated that he was starting to leave Dogecoin, this is a mess of news that is presented to the public, so that market manipulation can be done his way.
know what/ because this person will never be certain in anything , he will keep changing words and decision from here and there .remember that there are multiple times that This clown make an announcement to only favor him than everyone here.
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for now I'm not so sure about the available articles
Selengkapnya tentang teks sumber iniDiperlukan teks sumber untuk mendapatkan informasi terjemahan tambahan
don't share a local article mate , because this is an english board , this needs translation before being understand of every other countries . Selengkapnya tentang teks sumber iniDiperlukan teks sumber untuk mendapatkan informasi terjemahan tambahan
Elon Musk didn't explicitly mention that he didn't like bitcoin, even when rumors circulated that he was starting to leave Dogecoin, this is a mess of news that is presented to the public, so that market manipulation can be done his way.
That's why social media now mostly presents news that is not in accordance with the facts that happened, the news that is released does not go through a proper analysis process, they don't even pay attention to the negative effects caused by the news, indeed not all news that is released is like that, but almost completely I find it like that, if someone trusts the news too much, without going through the analysis selection that we have, then we will almost completely get stuck, for now I'm not so sure about the available articles
That's why social media now mostly presents news that is not in accordance with the facts that happened, the news that is released does not go through a proper analysis process, they don't even pay attention to the negative effects caused by the news, indeed not all news that is released is like that, but almost completely I find it like that, if someone trusts the news too much, without going through the analysis selection that we have, then we will almost completely get stuck, for now I'm not so sure about the available articles
Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.
I agree with this because it really has a basis.
In fact, some news has indicated that Tesla has an average buy at $29k but I doubt this is the price Tesla bought back after the big sale in May 2021. Although the difference may not seem like much, I think Elon is not an unreliable person and he certainly does not want to hold that huge pressure.
I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...
Twitter is, yet again, unreliable.
Don't forget that he is a businessman, and he is also the richest man in the world. If he were stupid enough to sell his fortune at a loss, he wouldn't be the richest man on the planet.
Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.
Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.
I agree with this because it really has a basis.
In fact, some news has indicated that Tesla has an average buy at $29k but I doubt this is the price Tesla bought back after the big sale in May 2021. Although the difference may not seem like much, I think Elon is not an unreliable person and he certainly does not want to hold that huge pressure.
In that regard I don't think that he is any worse than a huge majority of bitcoin hodlers who only see it as a way to increase their fiat amount and bitcoin proved to be a very good for that.
The hypocrisy makes him worse. Those people who invest in bitcoin for profit aren't lying about it, in fact they call bitcoin an asset not a currency. Whereas Elon has pretended to care about the technology, ran a full node, used it as a currency in his business, etc. then suddenly went back on all that and showed his true face when he started pump and dumping an altcoin.Other than the sale itself, I doubt this will have an impact on the market. Telsa was just an entity holding some coin. The decision to stop accepting bitcoin for payment for their cars likely had a larger impact, as it mean there was one less way for people to spend their coin without first converting it to fiat. It also meant that Tesla was not going to try to start paying their suppliers in bitcoin.
Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.
I agree with this because it really has a basis.
In fact, some news has indicated that Tesla has an average buy at $29k but I doubt this is the price Tesla bought back after the big sale in May 2021. Although the difference may not seem like much, I think Elon is not an unreliable person and he certainly does not want to hold that huge pressure.
This was known a long time ago, it would not impact bitcoin that much. No single move could ever move it at all, and that is why I believe that we shouldn't really put this much emphasis on them. Just realize that crypto is something that would end up not being a big deal with a centralized move. What happens however is one person does something and in return it becomes a big trouble for all other people who gets scared and sells and that's the trouble.
I believe that what Elon sold didn't matter, but what others sold because Elon sold mattered and that's the trouble. In any case we are still doing fine, the price is still fine and there is no doubt about that.
I believe that what Elon sold didn't matter, but what others sold because Elon sold mattered and that's the trouble. In any case we are still doing fine, the price is still fine and there is no doubt about that.
Don't forget that he is a businessman, and he is also the richest man in the world. If he were stupid enough to sell his fortune at a loss, he wouldn't be the richest man on the planet.
There are 2 mistakes I see here:
1. Even the richest can lose now and then, usually they take small loses to avoid bigger ones or to make a much better business soon afterwards.
2. Tesla is not only Elon Musk. I expect there's a board that take decisions and those decisions may or may not be influenced by what Elon Musk wants.
Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.
Yeah, this sounds more like it. Either there was no loss at all (as @Rikafip already said), either the loss was smaller than the previous gains.
Twitter is, yet again, unreliable.
Those people who invest in bitcoin for profit aren't lying about it, in fact they call bitcoin an asset not a currency.
Yeah, the thing is that people rarely say that, and instead keep going on that they are into bitcoin for the technology and same thing can be seen here. In reality, majority of Elon haters wouldn't mind if he started shilling bitcoin all over again if it means bitcoin price going up. Don't get me wrong, I don't like Musk but I don't hate him either because I never fooled myself that he is in bitcoin for anything else other than making more fiat, same as majority of others. And they would probably do the same thing if they have that kind of influence. This is just the beginning though as in the next bull run I expect more big names doing the similar thing. Its inevitable.
@pooya87. This is very similar to much of the hodlers in the cryptospace. It might not be only hypocrisy, however. It might also be voluntary blindness from reality and acceptance of anything an influencer would tell them as long as it will help pump the price of bitcoin. I am not being an antagonist, however, bitcoin is not working that good as a hedge for inflation, a store of value and as a medium of exchange. I speculate that many people in the community are beginning to understand this but they are only quiet to avoid being attacked.
In that regard I don't think that he is any worse than a huge majority of bitcoin hodlers who only see it as a way to increase their fiat amount and bitcoin proved to be a very good for that.
The hypocrisy makes him worse. Those people who invest in bitcoin for profit aren't lying about it, in fact they call bitcoin an asset not a currency. Whereas Elon has pretended to care about the technology, ran a full node, used it as a currency in his business, etc. then suddenly went back on all that and showed his true face when he started pump and dumping an altcoin. 
The news is retrospect and probably better explains what had already happened with exceptional BTC weakness in the months prior. Companies dont usually dispose of shares or fungible assets all in one go, its dispersed with a strategy to follow current market pricing often a volume weighted measurement such as VWAP indicator sometimes available on various chart data providers.
It was significant perhaps but not ongoing as an effect which is what will matter more for prices this year. People sell all the time, it happens but to me BTC is about being used and also the billions of people who may find utility with this 'tool' ie. usage >
It was significant perhaps but not ongoing as an effect which is what will matter more for prices this year. People sell all the time, it happens but to me BTC is about being used and also the billions of people who may find utility with this 'tool' ie. usage >
~
Elon Musk is anti bitcoiner and supporting just doge coin, people were thinking that this will happen, that Tesla will sell their bitcoin holding, it could be because of business reasons or a way to manipulate the market in the future, but it was good that Elon Musk sold this coin and not having significant effect on the market.
If you are referring to huge investors as anti bitcoiners then you should include every institutional investors in this category including anyone who invest in the market who think about attaining a profit at a later date. One thing is established is that Elon Musk is a master manipulator not only in the cryptocurrency space but also in the stock market, so you can expect news popping up once in a while that could influence the market. Elon Musk is anti bitcoiner and supporting just doge coin, people were thinking that this will happen, that Tesla will sell their bitcoin holding, it could be because of business reasons or a way to manipulate the market in the future, but it was good that Elon Musk sold this coin and not having significant effect on the market.
I do not know why the news are bringing this up, no significant effect at all.
You're kidding right? Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players. Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations.
Don't forget that he is a businessman, and he is also the richest man in the world. If he were stupid enough to sell his fortune at a loss, he wouldn't be the richest man on the planet.
Just because he is rich and successful doesn't mean that he can't make mistakes that will cost him money. Take for example those 3AC and Celsius people; those are smart (and rich) people that were blinded by greed and made stupid mistakes. All I am saying is that its wrong to judge this move (and gloat) based on the price when this news leaked because both of these things happened earlier.There were many saying on twitter that Tesla has bought high and sold low... they've convinced me and I didn't go to check the numbers.
So they were not at loss after all?
Yeah I know that "haha stupid paper hand Elon lost money on Bitcoin" is the narrative on social media, but when you check the prices around the time he bought and sold (which are different from the time that info was released) you see that him selling with loss is unlikely. Or even if he had some loss, it probably wasn't big. So they were not at loss after all?
For sure Elon is not stupid as that since he is businessman and successful already by all means so I guess this is just part of their show to make it look that they are not into crypto anymore then see if they can buy back again. Elon does manipulative tactics from the past so maybe this is another round of what they do so hopefully many people will realize that they are not good to follow.
Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.
I could say that people have been aware of the situation. Hearing about Tesla Company and the negative talks that Elon Musk does plus shilling Dogecoin, I think people had learned already and simply ignore it. We don't afraid if they sell some of their Bitcoin as while they are selling, many people are also buying which makes the market keep on balance and retain the price at its current position.
But maybe some members are right, this is mind-blowing from a known businessman and a huge company selling their assets at lose where we know that they can manage to hold it.
But maybe some members are right, this is mind-blowing from a known businessman and a huge company selling their assets at lose where we know that they can manage to hold it.
There were many saying on twitter that Tesla has bought high and sold low... they've convinced me and I didn't go to check the numbers.
So they were not at loss after all?
Yeah I know that "haha stupid paper hand Elon lost money on Bitcoin" is the narrative on social media, but when you check the prices around the time he bought and sold (which are different from the time that info was released) you see that him selling with loss is unlikely. Or even if he had some loss, it probably wasn't big. So they were not at loss after all?
For sure Elon is not stupid as that since he is businessman and successful already by all means so I guess this is just part of their show to make it look that they are not into crypto anymore then see if they can buy back again. Elon does manipulative tactics from the past so maybe this is another round of what they do so hopefully many people will realize that they are not good to follow.
There were many saying on twitter that Tesla has bought high and sold low... they've convinced me and I didn't go to check the numbers.
So they were not at loss after all?
Yeah I know that "haha stupid paper hand Elon lost money on Bitcoin" is the narrative on social media, but when you check the prices around the time he bought and sold (which are different from the time that info was released) you see that him selling with loss is unlikely. Or even if he had some loss, it probably wasn't big. So they were not at loss after all?
PS. It was a big surprise for me that Tesla did buy high and sell low. I've been expecting them be smarter.
Why do you think that they made a loss on those 75% BTC that they sold? Afaik they bought Bitcoin before December 2021 when price was around 20k, and they didn't sell yesterday when this news broke but sometime before that so there is a high chance that in the end they profited from this trade.There were many saying on twitter that Tesla has bought high and sold low... they've convinced me and I didn't go to check the numbers.
So they were not at loss after all?
I would disagree with that, because after all, he is a man who has far more influence than any ordinary person who sells or buys Bitcoin - and if you look at what the media is doing with this news and how much discussion is going on in this forum, it is also more than enough proof that people care what he says and what he does.
I meant in his view of bitcoin as a way to increase amount of fiat as majority of ordinary bitcoin holders use bitcoin primarily for that, they are not interested in bitcoin "philosophy" and that's why in my eyes he is not worse than anyone else just wanting to profit from bitcoin. It's just that he is doing it on a much larger scale and that's about it. Accordingly, I hope that people have understood that he is only a part of the majority that you mention, and that he is not interested in Bitcoin for some other reasons.
Judging by the comments here, I am not so sure that people understand what's his goal in crypto and I think that many are taking him way too seriously. 
Totally addicted to green, in every possible sense and form, and maybe we would have more luck if by any chance the Bitcoin logo was green, when it doesn't help that more than 50% of the energy used for Bitcoin mining comes from renewable sources...
In that regard I don't think that he is any worse than a huge majority of bitcoin hodlers who only see it as a way to increase their fiat amount and bitcoin proved to be a very good for that. I would disagree with that, because after all, he is a man who has far more influence than any ordinary person who sells or buys Bitcoin - and if you look at what the media is doing with this news and how much discussion is going on in this forum, it is also more than enough proof that people care what he says and what he does. Accordingly, I hope that people have understood that he is only a part of the majority that you mention, and that he is not interested in Bitcoin for some other reasons.
I do not know why the news are bringing this up, no significant effect at all.
Yes, it's different this time. There's a slight effect on it but look how the market is recovering from the crash that it went from. Maybe this is all planned by them.Like before, when there were news about buying out of a certain company for bitcoin, the price shoots up and I think they've preserved this news well to affect the market once again to send it to the bottom again for them to buyback those cheap bitcoins but it was unsuccessful.
I do not know why this time should be linked to Tesla that sold 75% of their bitcoin holding. The amount sold is large but no significant effect.
You said that tesla was involved before so why not this time? Or maybe you are not totally convinced because you see that price seems unaffected and price did in fact rise a little. Oh well, maybe the effects were just delayed. That happens sometimes so we shouldn't be confident that much. We can sell some now in case we will be needing the cash later on because the price can fall again at some point and it may have a hard time to recover again. Tesla will sell their bitcoin holding, it could be because of business reasons or a way to manipulate the market in the future, but it was good that Elon Musk sold this coin and not having significant effect on the market.
The feedback that I am hearing are mixed. There are those who said that it was due to business purposes but there are some who says that they did it because they want to manipulate the price of bitcoin again. 
I do not know why the news are bringing this up, no significant effect at all.
Formerly it would have had a significant effect on the market but I guess people do not give too much attention to Elon musk these days and Tesla. The attention that both Elon and Tesla formerly enjoyed I think no longer exist as before. 
The news about Tesla is just clickbait, as most news pertaining to crypto these days. They do it to spread panic and force you to sell.
As far as I know, Tesla released its financial results for the second quarter of 2022 in line with what is expected of them by their shareholders and as they routinely do each year. Media outlets were merely reporting the facts and published their articles accordingly.
And I don't believe Elon Musk ever moved the price in 2021. He could have moved dogecoin's price, but not bitcoin.
Elon Musk doesn't move the price, the market does. Market moves are the result of many things, but the key component of all of these reactions is the psychology of the traders and the buying and selling that result from them.
The news about Tesla is just clickbait, as most news pertaining to crypto these days. They do it to spread panic and force you to sell.
And I don't believe Elon Musk ever moved the price in 2021. He could have moved dogecoin's price, but not bitcoin.
And I don't believe Elon Musk ever moved the price in 2021. He could have moved dogecoin's price, but not bitcoin.
If I'm not mistaken, it's not like the went to the public and then sold. They have sold already months ago and this is why the price goes down hard, just one reason together with the Luna crash.
It was a time-weighted average price(TWAP) sell; pretty much they sold slowly in the span of days as to not heavily affect the markets with an unnecessarily huge red wick and with them getting less dollars for their bitcoin.
The sale of Bitcoin by Tesla might have played a part in the steep drop in bitcoin prices this past June. Anyway, they sold their bitcoin and the news hardly created too much panic in the market.
The reality is, Tesla or other sharks such as MicroStrategy selling all their bitcoins, it won't make the bitcoin supply more than 21 million BTC, so this sale makes little sense in the long run.
The reality is, Tesla or other sharks such as MicroStrategy selling all their bitcoins, it won't make the bitcoin supply more than 21 million BTC, so this sale makes little sense in the long run.
PS. It was a big surprise for me that Tesla did buy high and sell low. I've been expecting them be smarter.
Why do you think that they made a loss on those 75% BTC that they sold? Afaik they bought Bitcoin before December 2021 when price was around 20k, and they didn't sell yesterday when this news broke but sometime before that so there is a high chance that in the end they profited from this trade.Totally addicted to green, in every possible sense and form, and maybe we would have more luck if by any chance the Bitcoin logo was green, when it doesn't help that more than 50% of the energy used for Bitcoin mining comes from renewable sources...
In that regard I don't think that he is any worse than a huge majority of bitcoin hodlers who only see it as a way to increase their fiat amount and bitcoin proved to be a very good for that. 
I'm surprised to see many users saying this kind of news is FUD, while the news has nothing to do with a FUD, seems like people see any news is a FUD lol. This guy has nothing to do with Bitcoin and he can't control Bitcoin price with his tweet, the reason why the price drop for 4%-5% is just a normal fluctuation. Does Bitcoin price always increase when bull season? No, you will few days the price is drop for few % and then continue to rise.
I disagree because he is neither. He is purely pro-fiat.
Totally addicted to green, in every possible sense and form, and maybe we would have more luck if by any chance the Bitcoin logo was green, when it doesn't help that more than 50% of the energy used for Bitcoin mining comes from renewable sources...
Clearly the the news doesn’t have longer effect on the current market but it surely give a sharp drop for a short period of time when the news was released.
Let me give some facts about this, Tesla sold there Bitcoin not by the time the news was released but around June when Bitcoin sharply drop from around 28K to 18K which clearly has a significant effect since we still don’t know if the current uptrend movement is a real bullish movement or just a trap.
Let me give some facts about this, Tesla sold there Bitcoin not by the time the news was released but around June when Bitcoin sharply drop from around 28K to 18K which clearly has a significant effect since we still don’t know if the current uptrend movement is a real bullish movement or just a trap.
I was just thinking it was an OLD FUDs that social media is bringing on the table, making the name of Elon Musk and Tesla known again.
I wish it brought something big but unfortunately, it deserves to be ignored and rejected, that is why the impact on the market doesn't even feel, people just thought about a normal price movement (up and down).
We just let them sell their Bitcoin as many people are willing to take it over and hold it, in fact, whales are waiting for it.
I wish it brought something big but unfortunately, it deserves to be ignored and rejected, that is why the impact on the market doesn't even feel, people just thought about a normal price movement (up and down).
We just let them sell their Bitcoin as many people are willing to take it over and hold it, in fact, whales are waiting for it.
If I'm not mistaken, it's not like the went to the public and then sold. They have sold already months ago and this is why the price goes down hard, just one reason together with the Luna crash.
So when the news come out, there is no significant impact, we are just tired of hearing news from Elon Musk that all of us didn't bother at all with this news.
So when the news come out, there is no significant impact, we are just tired of hearing news from Elon Musk that all of us didn't bother at all with this news.
For something insignificant, some how merits people publishing and republishing the news though 
Anyway, I never thought the Bitcoin buys ever budged the market beyond a few hours of activity only scalpers would benefit from. Same as the Bitcoin sells.
It's long-term and medium-term trends (volume) that matter much more than what essentially are drops in the ocean.
Anyway, I never thought the Bitcoin buys ever budged the market beyond a few hours of activity only scalpers would benefit from. Same as the Bitcoin sells.
It's long-term and medium-term trends (volume) that matter much more than what essentially are drops in the ocean.
Someone has been commisioned to make a fud. As we can see the date of dumping of Tesla is quite earlier than today probably they dump at bit high gaining off some profits for that. Its quite obvious they are planning to drag the price bit more down to accumulate at a good entry using this kind of news which is quite irrelevant now to the current price. Nice try to fud but I do think they arent warranted by the general market as it speaks differently based on chart.
That's too much of a tinfoil hat take. News flash: news sites love to release whatever articles that gets a lot of attention, and Elon Musk related articles do get a lot of attention. Not everything needs to be fud/manipulation.
when Elon Musk announcement of Tesla not accepting bitcoin payment anymore, the price downturn was greate.
Actually the effects of that FUD was so negligible that you could have considered the movement as part of the daily fluctuations just like this recent FUD about their sale has practically no effect on the price whatsoever.Quote
Elon Musk is anti bitcoiner and supporting just doge coin,
I disagree because he is neither. He is purely pro-fiat. Since Tesla's sale off has already happened at least weeks ago (if not months), most have understood that this news changes nothing.
It changed things when the sale materialised.Clearly. But imho that's not what OP was talking about.
he's focusing the question wrong.
Yup.
They did sell 10% of the total somewhere in April 2021, so that was a pretty smart move making them about 120 million.
But overall.. they're on a loss, right?
Somehow I feared they'll sell earlier the bulk, i.e. while they were still on profit, but the market was going down.
But, as some said, the effect now (i.e. in 2022) may have been much more devastating.
Definitely a well-needed cleansing though.
Indeed. And despite their announcements that they may buy bitcoin again, right now I hope they'll never do that again. We don't need this kind of investors.
I do not know why the news are bringing this up, no significant effect at all.
Someone has been commisioned to make a fud. As we can see the date of dumping of Tesla is quite earlier than today probably they dump at bit high gaining off some profits for that. Its quite obvious they are planning to drag the price bit more down to accumulate at a good entry using this kind of news which is quite irrelevant now to the current price. Nice try to fud but I do think they arent warranted by the general market as it speaks differently based on chart. legendary
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Since Tesla's sale off has already happened at least weeks ago (if not months), most have understood that this news changes nothing.
It changed things when the sale materialised. The price of bitcoin was above $30,000 throughout May, and in June when Tesla sold, there was a clear drop from $30,000 to $20,000. What seems to have had little effect is the news after the fact, but the dump had a clear effect on the price drop.
You're kidding right? Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players.
Yes, it seems like a joke the way he puts it, he's focusing the question wrong.
You're kidding right? Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players. Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations. Tesla actually performed God's work here, making sure that when prices do rise, it isn't the degenerate gamblers with tons of leverage that get rich, it's the people that stayed the course and stacked sats in their own wallets. That's why people are talking about it. It was a big deal.
Not sure if I'd say that their sale is actually what specifically set off the mass liquidations, but yea they surely had a significant effect — pretty much like pouring gas on an already-burning building.
Definitely a well-needed cleansing though.
I do not know why the news are bringing this up, no significant effect at all.
You're kidding right? Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players. Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations. Tesla actually performed God's work here, making sure that when prices do rise, it isn't the degenerate gamblers with tons of leverage that get rich, it's the people that stayed the course and stacked sats in their own wallets. That's why people are talking about it. It was a big deal.
+1
Tesla gave the death blow to many bad actors in the crypto space.
Also it's strange they needed the cash and sold the dip, which is a poor business decision.
I believe there might be a bigger strategy at play here...
Sandra
I do not know why the news are bringing this up, no significant effect at all.
You have seen the drop of Bitcoin in the past week, it is maybe the effect of Tesla sales in the market. Now that the sales is over, we have seen Bitcoin price regain from the dip of less than $18k to $24k. So it does have some effect somehow but it is just a temporary one since Bitcoin is able to shrug its effect off easily.
I do not know why the news are bringing this up, no significant effect at all.
You're kidding right? Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players. Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations. Tesla actually performed God's work here, making sure that when prices do rise, it isn't the degenerate gamblers with tons of leverage that get rich, it's the people that stayed the course and stacked sats in their own wallets. That's why people are talking about it. It was a big deal.
+1
Tesla gave the death blow to many bad actors in the crypto space.
Also it's strange they needed the cash and sold the dip, which is a poor business decision.
I believe there might be a bigger strategy at play here...
Effect of Tesla bitcoin sale not significant
And you're looking now for the effects?
The sale didn't happen yesterday, that was the announcement that they did sell somewhere in Q2 which could be anywhere in the last months.
So it might have not caused a thing and it might be responsible for some of the drops we experienced, maybe even the crash from 35 to 30 was caused by this.
And before somebody comes with the OTC thing, the OTC is not a black hole where you can sell billions of coins and it will not affect the price, if somebody unloads 100k coins and there are no takers then they will have to go lower and lower like, in any normal market, OTC is not something that denies the laws of supply and demand.
Also a time of the Chinese crypto crack down FUD
Which proved to be not fud but as real as it can humanly be possible!
PS. It was a big surprise for me that Tesla did buy high and sell low. I've been expecting them be smarter.
They did sell 10% of the total somewhere in April 2021, so that was a pretty smart move making them about 120 million.
I do not know why the news are bringing this up, no significant effect at all.
You're kidding right? Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players. Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations. Tesla actually performed God's work here, making sure that when prices do rise, it isn't the degenerate gamblers with tons of leverage that get rich, it's the people that stayed the course and stacked sats in their own wallets. That's why people are talking about it. It was a big deal.
now on the news that Tesla bitcoin sale is affecting bitcoin market price to be decreasing
Since Tesla's sale off has already happened at least weeks ago (if not months), most have understood that this news changes nothing. Of course, some needs more time to understand that's old news.
Also.. we're still in bear market; I've said it not long ago that the recent rise can very well be just a bull trap.
And somebody has also said something interesting: literally anything can trigger the next sell off (not as news, but as pretext). Is it the case? I don't know. We'll see.
We need more patience until we're sure the bear market is over.
PS. It was a big surprise for me that Tesla did buy high and sell low. I've been expecting them be smarter.
~snip~
There is little real journalism left, most of these scribblers are ordinary brainwashed mercenaries who turn every thought of their media gods into a sensation. When we read most of the headlines today, it turns out that Bitcoin suffered a massive blow below the belt because one man no longer believes in it - and the truth is that he stopped believing in Bitcoin even when he declared it a danger to the environment without even understanding what he was talking about.
On the other hand, this is another good day for those who for some reason do not like Bitcoin or want it to fail, but Bitcoin has long outgrown being dependent on one person, so their joy will be very short.
I do not know why the news are bring this up...
Clickbait to build traffic. Many of the media houses today do not deserved to be called that as they only try to be as sensational as possible in their publications, without much attention to facts.
The general bias towards Bitcoin has also been negative, so I do not take gheyr articles seriously anymore.
BTC price battles 200-week moving average after $930M Tesla Bitcoin sale
The market has been on the rise since sone days ago, now on the news that Tesla bitcoin sale is affecting bitcoin market price to be decreasing. I remember the time when the market was very buslish and any whales that buy bitcoin resulted to a great price rise. Also a time of the Chinese crypto crack down FUD and when Elon Musk announcement of Tesla not accepting bitcoin payment anymore, the price downturn was greate. I do not know why this time should be linked to Tesla that sold 75% of their bitcoin holding. The amount sold is large but no significant effect.
Elon Musk is anti bitcoiner and supporting just doge coin, people were thinking that this will happen, that Tesla will sell their bitcoin holding, it could be because of business reasons or a way to manipulate the market in the future, but it was good that Elon Musk sold this coin and not having significant effect on the market.
I do not know why the news are bringing this up, no significant effect at all.
The market has been on the rise since sone days ago, now on the news that Tesla bitcoin sale is affecting bitcoin market price to be decreasing. I remember the time when the market was very buslish and any whales that buy bitcoin resulted to a great price rise. Also a time of the Chinese crypto crack down FUD and when Elon Musk announcement of Tesla not accepting bitcoin payment anymore, the price downturn was greate. I do not know why this time should be linked to Tesla that sold 75% of their bitcoin holding. The amount sold is large but no significant effect.
Elon Musk is anti bitcoiner and supporting just doge coin, people were thinking that this will happen, that Tesla will sell their bitcoin holding, it could be because of business reasons or a way to manipulate the market in the future, but it was good that Elon Musk sold this coin and not having significant effect on the market.
I do not know why the news are bringing this up, no significant effect at all.
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