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Probably because it's just not their business. They don't need to confuse their objectives with bitcoin to get rich, they're doing exceptionally well without it
by warent 5y ago
Probably because it's just not their business. They don't need to confuse their objectives with bitcoin to get rich, they're doing exceptionally well without it
- amelius 5y agoThen why is Elon Musk trading Bitcoins? Tesla makes more money trading Bitcoin than selling cars. https://www.wsj.com/articles/tesla-makes-more-money-trading-bitcoin-than-selling-cars-11619517615 https://www.wsj.com/articles/tesla-makes-more-money-trading-...
- rvanlaar 5y agoTesla stopped accepting bitcoin. https://abcnews.go.com/Technology/wireStory/tesla-stop-accepting-bitcoin-car-payments-77656963 https://abcnews.go.com/Technology/wireStory/tesla-stop-accep...
- amelius 5y agoThis was about trading Bitcoin, not accepting it as a payment method. Plus, it doesn't really change the question.
- Daishiman 5y agoBecause Tesla's most valuable product aside from the cars is the memes. I am not kidding. It seems a substantial proportion of TSLA buyers aren't really interested in its fundamentals but like what Elon tweets out.
- FridgeSeal 5y agoI suspect this is because he’s successfully generated a cult-of-personality among fans, and crypto-communities can get pretty rabid (positively and negatively) when their chosen celebrity does anything.
- throwaway292893 5y agoIn addition to the revenue from selling cars. The GP was asking why Nvidia doesn't stop selling their cards and use them to generate bitcoin as a mining company. Tesla simply took some of their cash and invested in Bitcoin, they didn't shift production or pivot their business. The fact that they made money off of the investment and whether or not it was more than their revenue is irrelevant, the move didn't affect their core business, it was just lucrative.
- contravariant 5y agoThis is just an uneducated guess but is it possible that Tesla is just a company investing heavily in R&D of cars, and hasn't really begun to run a profit yet alongside some somewhat profitable speculative Bitcoin venture that Elon Musk's somehow put under the same roof? According to that article if you split out the emission credits as well then they've made around -200% more profit selling Bitcoin and -600% more profit with emission credits than selling cars. The fact that both are negative should tell you something's gone awry.
- IncRnd 5y agoTesla and Nvidia are entirely different from each other. Tesla's business model has been built on government subsidies, while Nvidia's business model is to sell product. One needs to create profit somehow, and the other is able to alienate one segment of purchasers in preference of another.
- lottin 5y agoJust because Elon Musk does something it doesn't mean it has to make sense. Tesla's shareholders can trade bitcoins themselves. They don't need Tesla to do that.
- heavyset_go 5y agoTesla's Q1 operating profit of $594M was slightly less than the sum of their $101M Bitcoin profit and the $518M regulatory credits they received[1]. [1] https://old.reddit.com/r/dataisbeautiful/comments/n0jxyt/teslas_first_quarter_visualized_oc/ https://old.reddit.com/r/dataisbeautiful/comments/n0jxyt/tes...
- 8note 5y agoIts not particularly unlikely that Elon Musk gets imprisoned for running pump and dump schemes