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Did you miss the "Tesla buys billions of USD in bitcoin" headlines? Along with the "will accept payment in BTC" pump and "never mind, selling" dump?

Barrin92 5y ago
did they actually dump their bitcoin? If yes I'd agree that it deserves attention but I don't think that's the case. Probably for that reason Elon actually posted in May or whatever that they have not sold their coins. Unless you can show that he actually mislead users for financial gain I don't think you're going to get authorities involved.
- toast42 5y ago
  https://www.coindesk.com/tesla-sold-bitcoin-in-q1-for-proceeds-of-272m https://www.coindesk.com/tesla-sold-bitcoin-in-q1-for-procee... This was very easy to find, and makes me question your position that you weren't aware of it.
  - Barrin92 5y ago
    that sale appears to have taken place before any of the communication, so that can't have been part of any pump&dump scheme either.
- rurp 5y ago
  Well technically Musk said "Tesla will not be selling any Bitcoin" when the policy change was announced. I haven't seen anything where he claims he didn't sell _before_ the change was announced. I have no idea if he dumped his Bitcoin before announcing the change at Tesla, but misleading a bunch of people while leaving himself a technicality escape hatch would be extremely on brand for him.
- mywittyname 5y ago
  I think he's pumping crypto in order to pump Telsa stock price. If Telsa falls out of the S&P500, it will probably descend into a death spiral. Musk claims that Telsa never sold any of their bitcoins before the price collapsed when he reversed course on BTC, but who the hell really knows at this point?
- jfrunyon 5y ago
  Hmm I thought they had but apparently that was just the news being the news. (Although I'll note that Elon has lied on Twitter plenty of times before :) ) Either way, he has certainly gained financially from boosting Tesla's stock, which lying about crypto is part of...
- hnra 5y ago
  Tesla sold bitcoin before their last quarterly report. They were about to underperform but thankfully their BTC announcement made sure they could dump and then beat earnings instead. Weirdly, they announced they would no longer accept BTC (on grounds known for years) right after they dumped.

Barrin92 5y ago

did they actually dump their bitcoin? If yes I'd agree that it deserves attention but I don't think that's the case. Probably for that reason Elon actually posted in May or whatever that they have not sold their coins. Unless you can show that he actually mislead users for financial gain I don't think you're going to get authorities involved.

toast42 5y ago
https://www.coindesk.com/tesla-sold-bitcoin-in-q1-for-proceeds-of-272m https://www.coindesk.com/tesla-sold-bitcoin-in-q1-for-procee... This was very easy to find, and makes me question your position that you weren't aware of it.
- Barrin92 5y ago
  that sale appears to have taken place before any of the communication, so that can't have been part of any pump&dump scheme either.
rurp 5y ago
Well technically Musk said "Tesla will not be selling any Bitcoin" when the policy change was announced. I haven't seen anything where he claims he didn't sell _before_ the change was announced. I have no idea if he dumped his Bitcoin before announcing the change at Tesla, but misleading a bunch of people while leaving himself a technicality escape hatch would be extremely on brand for him.
mywittyname 5y ago
I think he's pumping crypto in order to pump Telsa stock price. If Telsa falls out of the S&P500, it will probably descend into a death spiral. Musk claims that Telsa never sold any of their bitcoins before the price collapsed when he reversed course on BTC, but who the hell really knows at this point?
jfrunyon 5y ago
Hmm I thought they had but apparently that was just the news being the news. (Although I'll note that Elon has lied on Twitter plenty of times before :) ) Either way, he has certainly gained financially from boosting Tesla's stock, which lying about crypto is part of...
hnra 5y ago
Tesla sold bitcoin before their last quarterly report. They were about to underperform but thankfully their BTC announcement made sure they could dump and then beat earnings instead. Weirdly, they announced they would no longer accept BTC (on grounds known for years) right after they dumped.