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My - surely far fetched and with no evidence to back up - take is that Musk didn't go long on BTC when he announced TSLA would buy BTC for 1.5$bn, but actually
by littlecranky67 5y ago
My - surely far fetched and with no evidence to back up - take is that Musk didn't go long on BTC when he announced TSLA would buy BTC for 1.5$bn, but actually went short. Musk wanted to take TSLA off the public trading market but failed due to lack of money/investors for a buy back. Buying large amounts of BTC with TSLA money, ties the TSLA price to the BTC price. And Musk is a very smart person, he definetely knows that a couple of tweets of him can sway the BTC courses. Question is whether Musk will come up with private investors or own money now to take TSLA off the stock exchance (doubt it as it is still too highly valued).
- wmf 5y agoThat sounds super-fraudulent.
- littlecranky67 5y agoYes, if that would be done on purpose, this would be very illegal. But I have a hard time believing Musk goes all-in into Bitcoin with 1.5$bn investment, just to suddenly realize 3 weeks later that the environmental impact due to high energy consumption is a bad thing and backs out of it again.