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That makes it sound like he was doing a cheap pump and dump. Maybe you're right.
by kingo55 5y ago
That makes it sound like he was doing a cheap pump and dump.
Maybe you're right.
- samatman 5y agoTesla still has 90% of the Bitcoin they bought. If his proclamation knocks, say, half the value off Bitcoin, and it stays there, that wasn't a very clever pump and dump, because they kinda skipped the 'dump' part.
- de_nied 5y agoPerhaps it's a chump and pump. Bring down the value to buy the dip.
- bhouston 5y agoThey only declare their sales after the fact. There is a chance that Tesla owns no bitcoin at this time. Probably they still do, but...
- ChrisClark 5y agoThen won't they get in trouble? The most recent statement directly says they have not sold any, just stopping accepting payments in it. That would be an explicit lie then, something the SEC has jurisdiction over? (I'm not actually sure)
- p_j_w 5y agoSEC doesn't regulate Bitcoin.
- mthoms 5y agoI think the statement says they will not be selling any in the future.
- stjohnswarts 5y agoIs the SEC regulating bitcoin now? No. so they couldn't do a thing. Bitcoin isn't a security.
- hooande 5y agoI'll say again, it makes no sense for Elon Musk to do a cheap pump and dump. He's worth over $100 billion. The hundreds of millions he might make from a pump and dump are literally a rounding error to him
- tom_mellior 5y agoA pump and dump gets him actual cash, as opposed to capital tied up in shares. But more importantly, every move gets him the press coverage he craves.