Tesla Bought 1.5 B in Bitcoins - page 8.

oHnK

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Quote from: Lucius on March 19, 2021, 09:34:08 AM

Quote from: Sithara007 on March 18, 2021, 10:48:07 PM

There has been another sharp drop in the TSLA prices. The share price went down by 7%, from $702 to $653. I am wondering why the Bitcoin skeptics are not arguing that this is due to the BTC purchase in January (as they have argued earlier). On a serious note, there is a lot of hype surrounding the entry of Volkswagen in to the EV sector. Tesla has got a serious competitor for the first time in this sector, and that is being reflected in the share prices.

I don't see why anyone would link the fall in Tesla's share price to the fact that the company invested in BTC back in January 2021

Maybe simply those who think that Tesla's stock price fell because of investing in BTC is because BTC is a very volatile asset and management policies investing in very volatile assets are something that is very brave because if you profit you will get big profits and if you lose then you will lose a lot. too. But this kind of thinking usually belongs to people who are quite unfriendly to crypto and hate crypto before going into it. Even though from the point of view of crypto holders, this is a very forward step compared to other companies.

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Quote from: Sithara007 on March 18, 2021, 10:48:07 PM

There has been another sharp drop in the TSLA prices. The share price went down by 7%, from $702 to $653. I am wondering why the Bitcoin skeptics are not arguing that this is due to the BTC purchase in January (as they have argued earlier). On a serious note, there is a lot of hype surrounding the entry of Volkswagen in to the EV sector. Tesla has got a serious competitor for the first time in this sector, and that is being reflected in the share prices.

I don't see why anyone would link the fall in Tesla's share price to the fact that the company invested in BTC back in January 2021 - and on the other hand the price of 1 BTC has almost doubled its price since then. If you look at the prices of some other technology companies, you will notice the same thing - they all lose value. The reason is almost always that the money goes somewhere else, and investors seem to have found something better than stocks at the moment.

Quote from: https://www.fool.com/investing/2021/03/18/why-tesla-stock-fell-sharply-on-thursday/

Many tech stocks slid sharply on Thursday. Highlighting a bearish day in the market for tech stocks is the tech-heavy Nasdaq Composite's 1.5% decline as of this writing. Many growth stocks like Tesla fell even more.

Growth stocks have struggled to fully rebound after getting pounded in the second half of February and early March. Shares of these stocks seem to be taking a breather after big gains in 2020. Tesla stock is down 18% since mid-February. Its shares, however, are still well above 2021 lows below $600 in early March. But they're far from recovering to a high of more than $900.

A pullback in growth stocks has been largely attributed to rising 10-year Treasury yield rates. With improving return prospects in safer and alternative investments to equities, some investors may be pocketing gains from growth stocks and putting capital in bonds.

darewaller

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Quote from: Mauser on March 18, 2021, 04:09:58 AM

Quote from: nightxglow on March 16, 2021, 11:00:19 AM

So that's why cryptocurrency is hyping up so much. I thought it's only Elon Musk. He appeared multiple times in my twitter timeline, but i never really look up about his bitcoin journey. I just know he's such a great influencer for bitcoin, and really able to hype up btc. Well, good thing though, tesla is really trending right now as well, if they're investing bitcoin it will make cryptocurrency even more popular, and maybe many other companies might follow the path and start to adopt cryptocurrency as well like Tesla. This is such a good sign.

Yeah Elon Musk is great, but Tesla is a public company, which makes their investment so much important. We are seeing more and more companies switching their cash positions into bitcoins. In my opinion this is a great move for all of us. I hope we will see a world where every company is going to accept Bitcoin eventually. Elon Musk is doing nice publicity for all of us.

The importance of a public company buying bitcoin is how they do it, when they end up buying bitcoin they can't make it a secret, they have to let proper authorities know that they are buying bitcoin and since it is a public company that you can buy the shares of, they have to notify every single person that owns a share and that means it will be public knowledge, we all would know it. And when they end up selling we will know about that too; which is why I think it is quite clear that what they are doing is great for all of us, when have we ever seen 1+ billion dollars notified to us, bitcoin people just end up buying and selling and manipulating the price however they want.

I have always said bitcoin should be decentralized but regulated, those are very two different things, regulations makes it popular and accepted and supported but centralization makes it bad, decentralized but regulated is the perfect way and we are seeing that right now in USA.

Sithara007

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There has been another sharp drop in the TSLA prices. The share price went down by 7%, from $702 to $653. I am wondering why the Bitcoin skeptics are not arguing that this is due to the BTC purchase in January (as they have argued earlier). On a serious note, there is a lot of hype surrounding the entry of Volkswagen in to the EV sector. Tesla has got a serious competitor for the first time in this sector, and that is being reflected in the share prices.

fillippone

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Quote from: Vishnu.Reang on March 18, 2021, 01:41:36 PM

...But these holdings are not open to third party audit, so we can only make assumptions regarding the volume and amount.

For sure we will know more about those holdings. I bet in the next earning call Elon will disclose more All we will Dodd

In addition to that every firm that has already bought bitcoin will have a gigantic advantage on their peers, and I do expect more and more will moms j

Dollar_Hunter

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In 2020 to 2021, many large companies believe in bitcoin,
yes this is a sign that this is the beginning of the rise of bitcoin adoption, very happy to see Tesla buy,
and reportedly Apple will also buy bitcoin this year, if this happens maybe the price of bitcoin will be new. ath again at $ 75k

Vishnu.Reang

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Quote from: HodlerKing101 on March 18, 2021, 05:25:13 AM

Most big companies are doing that, even the publicly traded ones that is connected to Crypto like BTCS. It may not be as much as Elon bought, but enough to make it known that they know something that others do not.

If publicly traded companies are purchasing Bitcoin, then they need to reveal it during their monthly/quarterly reports. So far we have seen only a very few companies following the example set by Tesla. It is possible that the privately held companies and some of the institutional investors are accumulating BTC. But these holdings are not open to third party audit, so we can only make assumptions regarding the volume and amount.

goldade

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This is a great news to the bitcoin or crypto community. This shows how much potential bitcoin has in becoming the number one currency in the world. I believe if Tesla would invest $1.5billion of their hard earned cash into bitcoin, it must means that they've seen something worthwhile in it.
It's great to know that quite a lot of companies are have been investing in bitcoin and this shows how fast bitcoin is being adopted in the world. Trust me, this move by Tesla will encourage other companies and individuals, even those who are not interested in bitcoin, to follow suit and in no time, bitcoin would be adopted by everyone

HodlerKing101

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Most big companies are doing that, even the publicly traded ones that is connected to Crypto like BTCS. It may not be as much as Elon bought, but enough to make it known that they know something that others do not.

Mauser

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Quote from: nightxglow on March 16, 2021, 11:00:19 AM

So that's why cryptocurrency is hyping up so much. I thought it's only Elon Musk. He appeared multiple times in my twitter timeline, but i never really look up about his bitcoin journey. I just know he's such a great influencer for bitcoin, and really able to hype up btc. Well, good thing though, tesla is really trending right now as well, if they're investing bitcoin it will make cryptocurrency even more popular, and maybe many other companies might follow the path and start to adopt cryptocurrency as well like Tesla. This is such a good sign.

Yeah Elon Musk is great, but Tesla is a public company, which makes their investment so much important. We are seeing more and more companies switching their cash positions into bitcoins. In my opinion this is a great move for all of us. I hope we will see a world where every company is going to accept Bitcoin eventually. Elon Musk is doing nice publicity for all of us.

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Quote from: Sithara007 on March 18, 2021, 12:29:55 AM

Quote from: suzanne5223 on March 17, 2021, 09:57:16 AM

Bitcoin was already hyped before Tesla's $1.5 Billion investment and Elon was not totally an influencer to Bitcoin because he bullish more on Dogecoin than Bitcoin. Besides, he won't have invested the Billion dollar in Bitcoin if Microstrategy CEO doesn't convince him about the possible profit the company will make if accumulate Bitcoin.
Having said that, I believe Elon will thank Bitcoin for saving his ass because his CEO position is already on probation before he invested in Bitcoin and after the Bitcoin investment he retained his position and was also giving a new nickname "Tecnoking of Tesla"

I think Bitcoin should be call a life-changing currency.

The investment in cryptocurrency is proving to be very beneficial for Tesla. Their $1.5 billion investment has so far returned close to 100% in unrealized profits. If it was the other way around, then Elon would have been in big trouble. Even now some people are complaining that the decision to invest in BTC was taken without a wider consultation. So you can imagine what could have happened in case it flopped.

It understandable that Elon Musk would have be in trouble if the $1.5Billion investment in Bitcoin turn in other way round and I am not aware of the company investors stance about the Bitcoin investment but there's no way a company CEO will invested some amount of money without the awareness of the company major investors. It's not done
Having said that, the company is planning to accept crypto as payment in the future technically all their investors supported the crypto move.

Sithara007

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Quote from: suzanne5223 on March 17, 2021, 09:57:16 AM

Bitcoin was already hyped before Tesla's $1.5 Billion investment and Elon was totally an influencer to Bitcoin because he bullish more on Dogecoin than Bitcoin. Besides, he won't have invested the Billion dollar in Bitcoin if Microstrategy CEO doesn't convince him about the possible profit the company will make if accumulate Bitcoin.
Having said that, I believe Elon will thank Bitcoin for saving his ass because his CEO position is already on probation before he invested in Bitcoin and after the Bitcoin investment he retained his position and was also giving a new nickname "Tecnoking of Tesla"

I think Bitcoin should be call a life-changing currency.

The investment in cryptocurrency is proving to be very beneficial for Tesla. Their $1.5 billion investment has so far returned close to 100% in unrealized profits. If it was the other way around, then Elon would have been in big trouble. Even now some people are complaining that the decision to invest in BTC was taken without a wider consultation. So you can imagine what could have happened in case it flopped.

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Quote from: nightxglow on March 16, 2021, 11:00:19 AM

So that's why cryptocurrency is hyping up so much. I thought it's only Elon Musk. He appeared multiple times in my twitter timeline, but i never really look up about his bitcoin journey. I just know he's such a great influencer for bitcoin, and really able to hype up btc. Well, good thing though, tesla is really trending right now as well, if they're investing bitcoin it will make cryptocurrency even more popular, and maybe many other companies might follow the path and start to adopt cryptocurrency as well like Tesla. This is such a good sign.

Bitcoin was already hyped before Tesla's $1.5 Billion investment and Elon was not totally an influencer to Bitcoin because he bullish more on Dogecoin than Bitcoin. Besides, he won't have invested the Billion dollar in Bitcoin if Microstrategy CEO doesn't convince him about the possible profit the company will make if accumulate Bitcoin.
Having said that, I believe Elon will thank Bitcoin for saving his ass because his CEO position is already on probation before he invested in Bitcoin and after the Bitcoin investment he retained his position and was also giving a new nickname "Tecnoking of Tesla"

I think Bitcoin should be call a life-changing currency.

Jating

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Quote from: nightxglow on March 16, 2021, 11:00:19 AM

So that's why cryptocurrency is hyping up so much. I thought it's only Elon Musk. He appeared multiple times in my twitter timeline, but i never really look up about his bitcoin journey. I just know he's such a great influencer for bitcoin, and really able to hype up btc. Well, good thing though, tesla is really trending right now as well, if they're investing bitcoin it will make cryptocurrency even more popular, and maybe many other companies might follow the path and start to adopt cryptocurrency as well like Tesla. This is such a good sign.

Where have you been though?

Even before Elon Musk or his company bought $1.5 billion worth of bitcoin, bitcoin at least have been in hype specially after the halving. Yes, he is a social media influencer, once of the wealthiest man in the world and then tweeting about bitcoin and other cryptos, it will create a lot of noise.

Although most of the time his tweet is somewhat in the borderline of trolling about cryptos. For sure many companies are looking at bitcoin to hold on their balance sheet.

nightxglow

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So that's why cryptocurrency is hyping up so much. I thought it's only Elon Musk. He appeared multiple times in my twitter timeline, but i never really look up about his bitcoin journey. I just know he's such a great influencer for bitcoin, and really able to hype up btc. Well, good thing though, tesla is really trending right now as well, if they're investing bitcoin it will make cryptocurrency even more popular, and maybe many other companies might follow the path and start to adopt cryptocurrency as well like Tesla. This is such a good sign.

AniviaBtc

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Quote from: fillippone on March 15, 2021, 07:40:43 PM

The CEO of Tesla is now the "Tecnoking of Tesla" and the CFO is now the "Master of Coin".

It's all true:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001318605/000156459021012981/tsla-8k_20210315.htm

Bend the knee to the Tecnoking of Tesla!

There's something that Tesla can do in the cryptocurrency world not only being a huge part of it in the market.

Many people are believing on Tesla on contributing about the popularization and adoption of bitcoin around the world.

All heil to the Technoking of Tesla! Congratulations to Elon Musk on making another achievement or milestone in his life.

Cryptocurrencies are really very updated and in the mainstream nowadays and he also affects it so good by investing or somehow affecting its price in the market.

fillippone

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The CEO of Tesla is now the "Tecnoking of Tesla" and the CFO is now the "Master of Coin".

It's all true:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001318605/000156459021012981/tsla-8k_20210315.htm

Bend the knee to the Tecnoking of Tesla!

Sithara007

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Is there any confirmation regarding the rate at which Tesla bought these coins? In their statement, they just revealed that the purchase was made in the month of January, through Coinbase. But we had a large fluctuation in exchange rates during that month, and the exchange rates ranged from $31,000 to $41,000. If we take the mid-point ($36,000), then Tesla is having an unrealized profit of 55% in one month from their cryptocurrency investment. Perhaps they should concentrate more on cryptocurrency, than creating EVs. It is more profitable. Grin

fillippone

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Quote from: ?? on ??

Libra developer has a problem with Zuck which makes him not want to continue supporting the Libra platform, developers and investors should be able to combine their ideas so that they can develop better, but if Libra goes against Tesla it won't be possible because they have stronger influence and support.

I completely lost interest in Libra, when they downgraded their approach to a random stablecoin like many others we already have.
Anyway, I don't want to derail this thread furthermore. Please return to topic.

fillippone

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Quote from: Sithara007 on February 18, 2021, 10:51:26 PM

The Libra/Diem project of FaceBook was dead even before it could be launched. Rather than a cryptocurrency, it was more similar to the CBDC coins so I am not much worried about its demise.

Actually, the first version of Libra was very interesting: a "world currency" with a constant purchasing power measured against a basket of currencies and commodities (gold included).
This would have been really interesting, but, as you guess, the government could allow FB to get so important, so they killed it even before it was born (I guess witch threat they made to Zuck in that closed room to convince him it wasn't a so important idea to develop, after all.

Topic: Tesla Bought 1.5 B in Bitcoins - page 8. (Read 2732 times)