Topic: Elon and his bag of tricks (Read 340 times)

The power musk has he can rock and roll and the world would follow one should work hard like him and be a successful person like him...
I am a big fan of Musk - and how he influence the market is commendabel

It is necessary to kick out investors like tesla and Michel saylor. They are bringing some attention and money into the crypto space but this affects the overall situation of the crypto market. What it will be beneficial if most of the BTC is in the hands of a few people. Also, I think miners have a big impact on the BTC market. BTC mining cost and current price also affect the BTC market.

You have talked about the fact of market manipulation, we shouldn't blame anyone when the market crashes because he doesn't force us to buy certain coins, traders make mistakes because they are greedy wanting to take high profits when the market increases the influence of hype news from top people. I've reviewed the high losses of investors holding Doge coins, so the bad experience of the hype has convinced us to be more careful in investing.

Reputation means alot of things to all those people. Even MSTR is currently in deep loss right now but they keep on showing all that positivity about holding bitcoin on a longer term because this is what left for them. No way that they are going to sell all of that and move on with it but well Tesla did that but its Elon though, he made alot already from pumping doge

Depends on the situation. If you buy and you let it known that you buy the moment you do it, then it's adoption, and if you buy and then let it known 6 months later when you want it to increase, that is manipulation. See? I didn't need to talk about a sell situation to show the difference, it is that easy. If you can understand why the price goes up and down then you need to realize what it could be manipulation.

Elon bought it and let people know not too much later, but he sold and let people know when it barely reached 23k because he wanted to manipulate it. Plus, dude likes manipulation a lot, he was even punished for it when he did it to his own company, it wouldn't be a first.

That's how majority of the people painted the picture: put the blame on the big guys when it's raining and praise them when it's fine and dandy outside. It's easier for people to blame their losses on huge guys that 'affected' their investments rather than admit that they made a bad call on their buys. That frustration has to go somewhere, hence why they blame the big guys.

A very common human being behavior on where they do really love on pointing out fingers and looking for someone to blame with their losses thats why im aint surprised whenever there's a price decline then everything

would really be blamed into someone who did make out some recent predictions or hyping out something and then the market turns out to be going into the opposite direction.This wont really be just limited or talking
with Elon alone but also into other personalities or companies/institution who could really make some effects potentially.

Important thing here is that we do learn (but only for a few) but majority do still keep on repeating on the same mistake.

More like a form of coping, especially for the traders and market timers. People sure like blaming and pointing at other people when making bad buys instead of just taking the loss and learning from it.

Form of sugarcoating I guess? People tend to praise big names simply because they are expecting something beneficial to small investors, for an instance is 'hype' which could trigger interest to non-crypto investors, and once this assumption occur, small investors will gain from it.

On the other end, which is to huge investor's perspetive, they are somehow gaslighting their losses that it is part of their plan or such thing is normal, to simply hide the negative idea which could affect their name not only in a single industry but also in general.

It's funny how it's always adoption when big names are buying, and it's always manipulation if they ended up selling, ain't it? Especially knowing that Tesla actually ended up lost money. It's pathetic.

If I recall correctly, China is now the biggest market for Tesla sales and they have one of their mega factories pumping out Tesla's in that country. That means that even localized lockdowns can have a big effect on the supply chain of these cars and could possibly signal further lockdowns to come. You mentioned that was the end of June bitcoin holding position, however it's quite possible that Tesla has totally cashed out their position since then, because they clearly see it as a non-viable asset to hold. Tesla is getting more profitable but it's still very much in a growth phase and a lot of other car manufacturers are getting their electric vehicle production up to high levels now - the competition is setting in.

Elon's concern will only revolve and focus on his businesses. If selling a huge percentage of his Bitcoin investment would save his assets, he still did the right thing as a businessman. However, Tesla has a huge impact in the world of cryptocurrency yet we shouldn't fear or focus on it since we can't do anything about it. Elon wants to widen up his assets and protect his businesses at all costs.

Money influences the market, and Tesla has it, so whenever they make an announcement, it will definitely have an effect on the market. Nevertheless, the fact that the media usually ignores the effect of micro strategy and focuses on Elon makes me see them as sick content designed to draw more attention to their channels rather than Elon himself. If you look closely, it appears that he also enjoys more attention and tweets anything he wants, with the ongoing xxx scandal making him more popular than the wealthiest guy right now.

I'm happy that he has sold most of their holding and I will be looking forward to seeing him sell everything, enough of his manipulation, he will be known for his short-term growth in the bitcoin journey.

Exactly. China itself is largest manufacturer of the in built parts, skeletons and chargers or basically anything that's associated with the electronic stuff. I am assuming that what mk4 said is entirely true and that's what businesses do! When the financial management is failing for such big corporation its very obvious that they will do such plan and execution of the funds which can be liquidated in the emergency situation such as this one.

I think its in best interest that they have done it for their share holders.

The magic trick he always used is his company so maybe some people will get easily affected when there's a news about tela's action made, before it was really effective since if you look at the doge coin Tesla or Elon really make the price of it skyrocket. But now its hard for him to stir down the scene as the latest action they do didn't really give any huge effect to the market and I guess people already know the actions made by Elon Musk itself.

I guess if you are not that new in the market, you know such personalities like Musk can easily influenc the price. However, sooner or later crypto investors are getting smarter and will stir away from him specially if he open his mouth and talked about bitcoin.

And I don't think there is some kind of magic trick here, more on a business move on his part. Selling bitcoin, which he uses as an hedge and investment for his company. And since everyone's business is suffering due to the lockdown, specially his factory in China, he need cash flows now and the best move for Tesla is to sold their BTC holdings.

I don't have much to speculate about his behavior towards the crypto market. should also look at the matter from a different angle, as we all see that Elon Musk has brought positive and negative signals to the market through several stages of its development. As it grows, people call him god and now a bad guy. Each will judge and see the matter from their own understanding. In a market where most people want to benefit from it, and influencers will always face problems like this, I know not only Elon Musk but many other influencers are also being talked about.

Elon is very good at manipulating market price movements. both in the stock sector and the crypto market.
so I think this is definitely remotely related to the same thing. its all about business and profit for elon.

It's no stranger to Elon paying attention to his company in the Chinese sector. because even since 2019 Elon has been talking a lot about his business interests in China, which have much better potential and seeing the very rapid development in China.
in fact since 2019 In China, sales of electric vehicles (tesla) are growing faster than any other country, and already account for about 4% of the Chinese auto market. and continues to increase. but covid-19 becomes an obstacle and lowers the level of the market which is originally positive and reverses it. so it's only natural that Elon is now doing things as reported. because Covid-19 has had a huge impact on Elon's companies there. If the control of covid in China can be resolved immediately, Elon's business will become more optimal and can aim for a more positive market. Until 2021, Elon is flattering a lot about China. either he licks. I do not know. but what is clear is that he has an interest there and it is again a matter of moving prices and making a profit.

related to BTC which has been sold by tesla. then that could actually be good news. because in reality the news is not strong enough to drop btc any deeper.
even TRON said it would collect the amount of BTC Tesla sells.
Elon's influence is now starting to wane.

Components, parts and electrical items used to build tesla cars are manufactured in china. Tesla and other US automakers and industries, rely upon a steady stream of container ships from china containing manufactured parts. This is known as the global supply chain.

During the 2020 pandemic, tesla faced semiconductor shortages from china. Elon Musk looked into buying or building his own semiconductor plant to enable tesla to produce its own semiconductor chips in house. Unfortunately, the start up costs of producing a semiconductor foundry are so expensive. (Reportedly around $50 billion, if I remember correctly) That even the richest man in the world couldn't afford to finance it.

Attention given to TSMC semiconductor foundry in taiwan shows the worldwide power and wealth the silicon chip industry enjoys atm.

Elon tried to buy twitter. If he had more money and wealth, he may have bought a semiconductor foundry instead.

As I was reading through the quote you posted, that was my first question as well--and who knows?  Sometimes corporations give straight-up bizarre explanations for why they do things or why their profits are up/down/sideways.  My guess is that they're expected to give some kind of reason, even if it's not the real one.

And didn't any stock analysts ask any questions like that during one of their conference calls they usually have with earnings announcements and such?  I bet we're not the only ones who are curious as to what a massive sale of bitcoin has to do with lockdowns in China.

Sometimes I truly believe Elon Musk is just trolling the world the way only a billionaire leading a company like Tesla could.  But you know what?  It's better that whatever bitcoin he owned is on the market (presumably) instead of in his unpredictable hands.  I just hope the sale was done so as not to drop the price significantly--I don't know if 75% of their holdings would be enough to do that, but dumping a lot of bitcoin all at once certainly wouldn't have a positive effect.

Let's see when the other 25% is sold.  It probably won't take all that long for Musk to do it; I'd give him a month, maybe three.

I think Op asked a good question and that looks educative in itself with the responses too at least the logic and understanding of the reason for the sale is getting clearer for most people and if nothing on that, that they have office in Shanghai, although with offices in other countries. The curiosity however is if they sell such amount in btc to either finance the challenges of covid-19 on Tesla branch office in Shanghai and the covid-19 outbreak persist, what are they going to do ? Shut it down or what ? Selling more btc?

Regardless if them buying bitcoin makes them somewhat a "threat" or not, they totally have the complete rights to buy and sell their bitcoin as much as they want. People are complaining as if what they did was illegal. People need to get a grip.

Musk is a manipulator and he's doing what he knows best, which is being a troll on twitter. He manipulated dogecoin, bitcoin, his twitter deal... I couldn't care less about musk and his ideas, but I feel sorry for people who bought because of him and got caught off guard by his sales. Learn from it! Musk will only tell after he's done it and you, the followers, will be the sheep he takes advantage of.
If somebody is now buying Tesla stock because of his tweets, I can only feel sorry for you, because Elon holds so much stock that he can crash the market if he decides to, especially if he persuades his brother to sell with him. By holding Tesla stock you become dependent on these two people. I don't like to depend on anyone but myself.

Not every business wont really ending up on constant profits or making cash all the time and as we do know and we arent blind that pandemic hits hard and no matter how known or reputable your company is but still it wont really be an exemption into these kind of conditions.
It is really just people cant really believe that his losing up billions just because he had made out some manipulative act in the past where people doesnt really seem to believe
on what he's experiencing now into his companies.
So its his company then it would really be just his rights on what he would gonna do and same into those coins that he had bought if he had that kind of plan on where
he needs funds then its none of our business if he bag sold those coins that he had.

Elon's said he's losing billions on the Shanghai and other Tesla factories because they all were forced to curtail production from the lockdowns. I don't think this is insincere, nearly every company has had COVID lockdowns slow down sales. If a large portion of your business relies on Chinese manufacturing, it certainly seems within the realm of possibility that your company is hemorrhaging money when the CCP shuts everything down.

Selling Bitcoin to raise cash though is foolish. Surely there were better ways to raise capital.

Not just Elon any business-minded person will do what it takes to sustain their business especially during serious economic crises like this.  You could clearly see there was a reason for the sale, I mean why sell now when they had the chance to sell higher a few months back! After really thinking about it, I feel they did what they had to do and which isn't a big deal because btc price was not too affected by the news. Tesla is not the largest holder of btc and now that 75% of what they used to hold has been liquidated, they are like a tiny threat now. 

We have to stop speculating about bitcoin and Elon relationship because the 2.5% is not really a big drop to bitcoin's volatility range and 9% hike on the tesla shares is not also a big task, we can just assume all this thing as coincidence and stop giving him the attention he likes to get from the investment community.

Exactly! I don't think you should care or continue to care so much about Tesla and Elon musk unless you hold their stock. As far as I am concerned Elon will always do what is best for him and the survival of his companies and you too as an individual should consider and concern yourself with doing what is best for you and your survival financially instead of worrying if Tesla's recent development was in line to raise their trading price.

Doesn't change the fact that one of their big factories is at risk of closing. It definitely wouldn't kill the company but it would slow them down a good chunk.

As for it being justified or not, whatever. Their CFO wanted to manage risk and they indeed did made a financial decision in which they think selling bitcoin was the right move to do. In the end, I couldn't care less, and so should you unless you hold their stock.

It should be well received because TSLA is making electric cars. That's their main source of income. They shouldn't play games with the investors' money. If Elon wants to make crypto investments, he should either use his own funds or create a separate company which is about making crypto investments.


I have no idea. If you don't like or understand what Elon does, you should probably stay away from his stocks. Don't touch TSLA, problem solved. There are hundreds of other promising companies out there. Elon's TSLA isn't the only game.

True, however Tesla now uses four facilities that are fully operational. Only one is in China, while three are in the United States. And this is outside the other factories he has in Germany and Canada..
How do you justify his decision now?

1. Tesla has a huge factory in Shanghai, China
2. More lockdowns = less revenue from superchargers or car purchases in general
3. Probably risk control due to the non-zero chance of COVID making a comeback in most countries

Despite the uproar caused by Tesla's announcement last week that it has sold 75% of its Bitcoin, the corporation claims to have $222 million worth of "digital assets" as of the end of June on its balance sheet.

The new information was included in the company's quarterly report, which it submitted on Monday morning to the U.S. Securities and Exchange Commission.
A few days before submitting its complete earnings report to the SEC, a company will frequently issue a press release and hold an earnings call. Because of this, information of Tesla's sale of $736 million worth of Bitcoin on Wednesday spread before the firm provided any information.
During the company's earnings call on Wednesday, Tesla CEO Elon Musk added that the company had sold its Bitcoin to raise cash as COVID lockdowns in China continued.

Musk stated on the call last week that the reason for the sales was the uncertainty around the end of China's COVID lockdowns. Given the uncertainties surrounding COVID lockdowns in China, it was crucial for us to optimize our cash position.

But in the hour following the revelation, the price of one bitcoin fell by 2.5 percent, reaching $23,078.18 on Wednesday. According to CoinMarketCap, the largest cryptocurrency in the world by market capitalization has further declined and was currently selling at $21,969.29 per BTC.

Meanwhile, it appears that the news that Tesla had sold a significant amount of its Bitcoin was well received by its stockholders. Prior to the announcement, TSLA shares were trading at $742.50 at market closing on Wednesday. As of Monday afternoon, they had risen 9% to $812.16. According to Yahoo Finance, that is the highest the price of TSLA shares have been since early May.

https://decrypt.co/105923/elon-musk-tesla-holds-222m-digital-assets-after-dumping-bitcoin

My question is what is the relationship linking Tesla corporation and the COVID lockdowns in china?

Or was this just a well laid out plan to raise his trading prices?