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Tesla bought BTC when it was around $36k IIRC, so even with the value decrease yesterday-today, they're still up significantly.
by adoxyz 5y ago
Tesla bought BTC when it was around $36k IIRC, so even with the value decrease yesterday-today, they're still up significantly.
- neatze 5y agoProbably, tesla already sold all of crypto holdings, may be they will buy it latter at around 36k, again.
- miked85 5y agoNo, they sold 10% of their holdings to verify liquidity. [1] [1] https://finance.yahoo.com/news/musk-says-tesla-sold-bitcoin-033042715.html https://finance.yahoo.com/news/musk-says-tesla-sold-bitcoin-...
- sakopov 5y agoThey also seemed to have taken some profits. Tesla's Q1 reports a profit of $101 million from Bitcoin sales.
- txsoftwaredev 5y agoWhich he stated was done to prove liquidity.
- cma 5y agoStated intention is almost meaningless.
- rchaud 5y agoHard to take that at face value when Tesla has historically struggled to make profits. If you were worried about liquidity, you wouldn't put that much capital at risk. Also, liquidity today doesn't say anything about liquidity in a year's time.
- nickik 5y agoTesla has made profits continually (even during the pandemic) for more then 2 years. They stated clearly that putting less then 10% of their cash assets into something that was highly liquid, but had also chance at gaining value was preferable to cash. Specially because they can make it liquid difference currencies very fast.
- totalZero 5y agoIt's a risky move regardless of the rationale, because a pump without a dump is arguably lawful.