Tesla buys $1.5 billion in Bitcoin - page 2.

posi

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Quote from: mk4 on February 08, 2021, 08:20:48 AM

Though $TSLA's marketcap is a whopping $807 billion, a $1.5 billion allocation to bitcoin with their $19.3 billion cash on hand is definitely nothing to scoff at. That's a 7.77% allocation. Hot damn.

EDIT: there's going to be a lot of post reporting in this thread. I guarantee it.

You are absolutely right but the Tesla $1.5Billion investment in Bitcoin was used by Elon to test if it good to make a single transaction of billion dollars in cryptocurrency and to see the investment result base on the advice giving to him last year by Michael Saylor and Changpeng Zhao when the Microstrategy guy told him “If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.”

Wenbing

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Quote from: Altcoinsintel on February 08, 2021, 08:03:59 AM

Tesla invested 1.5 Billion USD into Bitcoin and plans to include Bitcoin as a payment method.
Definitely the reason for prices soaring right now.

Quote

Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. 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.

Bloomberg report:
https://www.bloomberg.com/news/articles/2021-02-08/tesla-invests-1-5-billion-in-bitcoin-plans-to-accept-cryptocurrency

SEC filing: https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm

This is one of the greatest event to happen to the crypto industry. t is the adoption of btc by the world's richest man.It is beyond adoption, he invested and he is making it as a means of payment for his products. wow, i am very excited about this.

no wonder, he said during the club house event, that he was late to the party but he is a supporter of bitcoin, that btc is being adopted by the public. I also see how strategic is Michael Saylor in ensuring that Tesla invested in digital assets.

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Quote from: abel1337 on February 08, 2021, 12:39:26 PM

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It seems Elon Musk knows how to play with people's emotions, and he can attract them to join with him. He already invests in bitcoin before the price is jump, but he announces it now to lift the price, and maybe that is the reason for the bitcoin price to jump higher and break $44,900. The trend still at the uptrend. But we do not know if the price can break $45k or not since that is close to that price.

Elon musk is really taking advantage of his influence, It is given that Elon bought a bag of bitcoin on the accumulation phase and I think this is his plan, He will not shill or do something that he won't gain something. We small-time trader/hodler/believer has a chance to ride his plans to make some profit. I hope that next time he will shill a useful coin not a useless coin like doge Sad

For the mean time, The tesla investment is I think good for bitcoin itself breaking the recent ATH and making a new ATH. I'm hoping that big names will start showing their motives to bitcoin.

I am sure he already buy bitcoin a long time ago before bitcoin increases. We can have a chance to make a profit by following people's reactions because of his tweet, and if we can adapt to the current situations, I am sure we will make a profit. I think he will tweet the other coins besides bitcoin and dogecoin, and I think he already makes a plan about that. We should be cautious and watch his step, so if the market does something, we are ready to follow.

Another perspective which will act as guide is that during bubble mostly created by Elon, must people tend to dump after few hours, so, those following such trends should not be victims of such massive dumping because when it happened the price crashes.

Though, there is huge value in trending but that value is only in timing.

[moderator's note: consecutive posts merged]

snipie

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Quote from: MyCryptoDomains on February 09, 2021, 07:38:59 AM

Also since the current pump is dependent on Musk BTC is a bit dependent on TSLA stock.

Nah I don't think that bitcoin will be dependent from TSLA stock. Bitcoin is volatile and depends on ask/demand, even if that stock dropped a lot and traders continue to buy bitcoin then the price will continue rising. Now if they will drop that amount then a crash will definitely happens since there will be a huge number of bitcoin for sell comparing to a smaller number of buyers.
Wonder estimate how much Tesla bought, January price was between $30k-$40k so ~$34k as median = BTC44k = 0.2% of the total bitcoin supply without counting the definitively lost amount!

MyCryptoDomains

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Also since the current pump is dependent on Musk BTC is a bit dependent on TSLA stock.

Ziskinberg

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Quote from: Altcoinsintel on February 09, 2021, 02:52:33 AM

Bitcoin seems to be right in the middle of the bull run and news of this kind are extremely bullish for the chart. Price can reach $100k and higher as this kind of news will drag hundreds of medium and large companies invest part of their treasury into Bitcoin.

The central bank negative interests will keep sending investments in assets like Bitcoin and all cryptocurrencies will see more growth for months. I expected this bull run to find a top by July, but with this kind of adoption perhaps it will be prolonged now until the end of 2021.

Middle of bull run? so this means there's still more to come? I can't wait but just watch it pumping and just look at my portfolio if it brings positive profit. I have been holding some altcoins for a while, most of them are still not in bull run state, it's sleeping in short.

Bitcoin should pump more so eventually altcoins will have its bull run as well, or the altcoins seasons will come.

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Quote from: KonstantinosM on February 08, 2021, 02:14:07 PM

This is an insane power move.

I wonder if he had to get approval from a board of directors?

Elon Musk is a charlatan. That being said. This is good for bitcoin. If other big companies follow suit we could easily see the price go to 6 digits and never come back down from there.

The risk involved can't be understated though. Bitcoin could go down 90% and turn that 1.5 Billion into 150 Million if the wind starts blowing in the other direction.

This is absolutely fucking crazy.

When one has the stars aligning on their side... well you know the rest. Wink

Space X, Tesla, Power city, Doge->Bitcoin you can see something big was going to happen sooner or later.
As many has said already as if he was just testing the waters getting into crypto just to see how people would react to seeing him rave about a cryptocurreny, and that being doge with that lone tweet saying: Former CEO of Dogecoin a while ago.
So now him ranting about purchasing a ton of BTCitcoin to the world and getting it done the right way by filing with the SEC shows he made the right power move, as you have put it.
This is the next step indeed.

Quote from: seoincorporation on February 08, 2021, 08:22:57 PM

$1.5 billion it's some serious cash, and the way that he makes it public was because he knows he is an influence. And
if he makes a bet tons of people will follow him.

It was a wise move to make it public, and now we can see the consequences...ATH!

This has been made public from many sources that it is 15% of Tesla's worth. So putting this kind of amount into something means they will be storing it for years to come and don't expect it to be dumped onto the market again since they will be accepting bitcoin for payments inexchange of their company's products.
"You will be able to purchase a Tesla car with this form of currency." is Elon's exact words.

Altcoinsintel

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Bitcoin seems to be right in the middle of the bull run and news of this kind are extremely bullish for the chart. Price can reach $100k and higher as this kind of news will drag hundreds of medium and large companies invest part of their treasury into Bitcoin.

The central bank negative interests will keep sending investments in assets like Bitcoin and all cryptocurrencies will see more growth for months. I expected this bull run to find a top by July, but with this kind of adoption perhaps it will be prolonged now until the end of 2021.

Amejoaquim

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Oh, thats the reason why i woke up in this morning and my portofolio rising up.

This news from Tesla is very damn good for crypto future and especially for bitcoin i think the price can rise more than $50k.

seoincorporation

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$1.5 billion it's some serious cash, and the way that he makes it public was because he knows he is an influence. And if he makes a bet tons of people will follow him.

It was a wise move to make it public, and now we can see the consequences...ATH!

AniviaBtc

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I think Elon Musk wants to prove us something because he already did this in doge coin where he suddenly make its price spike in the market.

He is really something else and we are glad that he is supporting cryptocurrencies to play with its price in the market.

$1.5B worth of bitcoin is really huge compared to other investors or companies. TESLA is a big company handled by the richest person in the world and it is really a good idea if he will set us in a hype.

snipie

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I thought he was going to keep promoting Dogecoin and pumping its price because for a while he's been talking about it lol. But this changes everything one of the biggest company and renowned business man just invest Billions this is truly shocking. I wonder, what would the other major companies move will be. This should be enough to silence critics such as Peter schiff and Warren Buffet.

I expect him to integrate Dogecoin too with his business once bitcoin is fully integrated. Dogecoin value rised a lot recently and it can be pumped further to $1 for doge then maybe this will attract more people to the honeypot!

BuNga_cute

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If you look at the current price of Bitcoin which has managed to reach the price of $ 47k. The enormous impact of the news meant Tesla
invested $ 1.5 Billion into Bitcoin. Indeed, since Elon Musk changed his bio on twitter to #bitcoin, it seems like the beginning of the hype
against Bitcoin. I am really looking forward to the plan that Tesla will accept payment methods via Bitcoin, if the plan is officially realized,
the Bitcoin price will skyrocket even more. Therefore, with a lot of positive news related to Bitcoin, I decided not to sell the Bitcoin that
I have for now.

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Quote from: okissabam on February 08, 2021, 11:13:28 AM

Apparently Elon Musk has been the reason why bitcoin is soaring high and has reached a new ATH again today. Maybe he is really interested in cryptocurrencies and may see it in the future that it could be of use to everyone. I mean it’s not a joke to buy bitcoin worth $1.5Billion you know.

For him, that amount is nothing. He can play around and create momentum that can bring the price up and for sure
he can bring things down when he's done playing.

It's another venue to gather more money, he understand how to work with people emotions. He see the potential
of this market that's why he's bringing his investment.

True, that amount is nothing for him but maybe he is also testing on how the market goes up and down whenever he tweets or say something about a certain coin. He’s smart on putting that amount of money to bitcoin, I mean he tweeted dogecoin, or maybe he is inviting other investors and convincing them this is for real. There are still a lot of people who still does not believe in cryptocurrencies and he’s proving to them that there is potential in cryptocurrencies.

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It's now confirmed that Elon Mush is up to in the last couple of days, he maybe testing the waters already with #Bitcoin and then experiment on DOGE on how people are going to react on him.

And now that the jury is out and there are public documents of his company investing a good sum of their assets to BTC, then everything break loose. Now it's just a matter of time when this run will end short term. I'm thinking $56k will be a good stop.

dothebeats

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I knew that Elon wasn't really shilling crypto for nothing, especially bitcoin and doge as of late. His twitter platform is so powerful that bitcoin soared from $33k to $37k just a week ago and now here we are, with the announcement of Tesla officially invested in bitcoin: $46k. It will surely boost Tesla's valuation even further in the coming years, and I do hope that with valuation comes greater and even better products for their electric cars. I mean, valuation is nothing if you can't deliver anything to the masses, and soon your company will just fall like dominoes.

A lot of people already predicted that Elon is already 'in the game' right even before the official SEC filing, but it's still crazy to know that the man with about $250 or something worth in bitcoin lets its multi-billion company buy $1.5 billion in bitcoin alone in a single move. Possibly one of the highest institutional purchase ever.

bct-user

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I think it is not really surprising if Tesla buys a big amount of Bitcoin, we already saw what Elon Musk did on his tweets lately. They start to speak much on crypto, even his tweets lead to the soar in Dogecoin price. This man knows well how to take advantage of crypto investment. He is aware of the impacts of news or issues on the crypto market. So, he finally decides to take a part in this industry more by buying a big number of Bitcoin through the Tesla company.

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This is really a big news not just for the crypto community but as well as for the world because knowing Tesla's big influence and popularity as a big company now investing with Bitcoin with a massive amount of $1.5B will give more credibility to Bitcoin for people will now find reason on why they must get into Bitcoin. This thing done by the Tesla will surely have a big impact not just on Bitcoin but as well as into the minds of people for they would be convince to get into Bitcoin now that another big and influential company have given a hand on investing into it.

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Tesla now is absolutely making a huge effect on the market, the spike that we saw is the cause of this buying amount. I was truly amazed by the support that Elon did, that kinda be he is really serious about what he doing right now. From Twitter, Doge pump, Bitcoin doing the same, and have this Tesla. Everyone now is on the look to Elon. They are obviously watching him what he does next.

Quote from: xenodata on February 08, 2021, 02:58:57 PM

I wonder if SpaceX or Starlink will get into Bitcoin. We got a lot of time before we need payments sent back and forth between Mars, but it seems that SpaceX at least would want to be able to transact using crypto between settlements.

You can't simply ignore that because I now seeing that Elon is adopting crypto, he's not joking now, I think.

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Quote from: Altcoinsintel on February 08, 2021, 08:03:59 AM

Tesla invested 1.5 Billion USD into Bitcoin and plans to include Bitcoin as a payment method.
Definitely the reason for prices soaring right now.

Quote

Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. 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.

Bloomberg report:
https://www.bloomberg.com/news/articles/2021-02-08/tesla-invests-1-5-billion-in-bitcoin-plans-to-accept-cryptocurrency

SEC filing: https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm

It was always going to happen sooner or later, we can see how bitcoin has captured the financial world by surprise now every financial institution are trying to lay hands on as much bitcoin as they can buy, with this news we might even see Bitcoin at $50k before the end p this week, Elon Musk is really a destroyer of short positions Cheesy

, cause I heard over $500m was liquidated in all futures crypto exchanges after tesla released the news, looks like we are already on the moon now heading to MARS.

DIA7

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I wonder why Tesla didn't invest their 1.5Billion in Doge.
Unless Elon Musk was trolling with us the hole time and he has a sense of humor. But he found out that his tweets affects the crypto world so after he invested some money in Bitcoin why not brag about it to drive the prices up.

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