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TSLA didn't sell that $100m to "test liquidity" - that was always a nonsense explanation. They sold because it was the best way to have a book profit for the q
by VHRanger 5y ago
TSLA didn't sell that $100m to "test liquidity" - that was always a nonsense explanation.
They sold because it was the best way to have a book profit for the quarter
- BbzzbB 5y agoExcept it's not what tipped the bottom line to green but it's not like that ever mattered when criticizing Tesla's revenue streams with regards to profitability.
- cableshaft 5y agoI'm pretty sure it was to prove to their shareholders that they could sell the bitcoin when they need/want to. Shareholders get skittish about stuff like that, showing "hey, it's fine, we can sell it, we're not stuck with it" helps. Anyway they always said it was to "prove" it's liquid and just as good as holding cash, not to "test" it. https://www.bnnbloomberg.ca/musk-says-tesla-sold-bitcoin-to-prove-liquidity-as-cash-alternative-1.1595563 https://www.bnnbloomberg.ca/musk-says-tesla-sold-bitcoin-to-...