[2021-02-08] BREAKING NEWS: TESLA BOUGHT $1.5 BILLION IN BITCOIN — SEC

[FatFork]

We hold and may acquire digital assets that may be subject to volatile market prices, impairment and unique risks of loss.

In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future. Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.

https://www.sec.gov/Archives/edgar/data/0001318605/000156459021004599/tsla-10k_20201231.htm

[aoluain]

You beat me to it FatFork! I have deleted my thread.

Great news, the flood gates have opened. The richest man in the world bought Bitcoin,
many many many more will follow.

Confirmed! Elon Musk / Tesla bought Bitcoin

"In retrospect it was inevitable"

Tesla announced in an SEC filing Monday that it bought $1.5 billion worth of bitcoin.
The company also said it would start accepting bitcoin as a payment method for its products.

Source:

https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

[FatFork]

You beat me to it FatFork! I have deleted my thread.

Great news, the flood gates have opened.

Yeah, I better be buying instead of making the announcement. What an idiot! 

[aoluain]

Yeah, I better be buying instead of making the announcement. What an idiot!  

Ah there will be plenty more opportunities to buy, its just the dips will be higher I suspect.

[cr1776]

Their actions (buying bitcoin) speak louder than words (re Dogecoin).  Dogecoin may be fun, but it is continually inflating so isn't a good store of value.  

Money talks, doge walks.

[Karartma1]

It was about time, really. We all knew that it was coming and we were expecting it. As soon as I got the price alert on my phone I said to myself this must be some Elon crazy decision: and that was it.
As I use to say all the time hold on to your precious coins. There's not gonna be enough for everybody.
Other companies will now follow, and many more already are planning to do the same.
Hold on!
https://bitcointreasuries.org/ to be updated with Tesla but look at the numbers

[aoluain]

The numbers are eye watering!
The $1.5bn purchase by Tesla should put them as the top owner of Bitcoin.

That list of 36 companies account for 6% of Bitcoins supply with Tesla to increase that.
Alot of that Bitcoin wont be hitting the market again for a long time.

[acquafredda]

The numbers are eye watering!
The $1.5bn purchase by Tesla should put them as the top owner of Bitcoin.

That list of 36 companies account for 6% of Bitcoins supply with Tesla to increase that.
Alot of that Bitcoin wont be hitting the market again for a long time.

Guys get your last satoshis while they are still there! This is nothing compared to what will happen when the bitcoin supply shock will truly hit. PlanB model still on track for an ever better run up. Keep holding in the free world!

[aoluain]

Absolutely @acquafredda
and it wont be long before the time comes where we wont be able to buy Bitcoin below $50k.

Tesla have $20 billion in cash reserves, I would say more of that will find its way into Bitcoin
putting more pressure on supply medium to long term.

[bbc.reporter]

Yeah, I better be buying instead of making the announcement. What an idiot!  

Ah there will be plenty more opportunities to buy, its just the dips will be higher I suspect.

Agreed. However, most newbies’ reactions to this is to buy other cheaper cryptocoins. Ethereum would certainly be the first receiver of discouraged bitcoin buyers hehe.

In any case, the next bear market will be an intruiging one if considering that Tesla is also a bagholder.

[kjlimo]

I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?

Should I contact my local dealer?

[Argoo]

I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?

Should I contact my local dealer?

So far, this is only at the decision-making level. Practical steps to implement this decision will follow over time. In order to sell its electric cars in practice for bitcoins, this company will have to coordinate this decision with various regulatory and tax authorities for a long time.
Of course, Tesla's decision to invest $ 1.5 billion in Bitcoin is very timely to increase the liquidity of the cryptocurrency and the growth of this market.

[Kakmakr]

" Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt. " .... this is a very crucial part in this whole statement, because they cannot accept it as a payment option ...if the government does not allow it.  

We know "butthurt" Yellen wants to take revenge on Bitcoin, because "The Bitcoin Guy" humiliated her on a public platform, so she will do everything in her power to hurt Bitcoin with strict regulations.

The fact that Elon Musk came from a payment system background, gives credibility to his decision and his vision for this investment. Let's hope he can turn Bitcoin into a currency and not a commodity.    (This is kinda like the Pizza Guy moment for Bitcoin)

[acquafredda]

" Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt. " .... this is a very crucial part in this whole statement, because they cannot accept it as a payment option ...if the government does not allow it.  

We know "butthurt" Yellen wants to take revenge on Bitcoin, because "The Bitcoin Guy" humiliated her on a public platform, so she will do everything in her power to hurt Bitcoin with strict regulations.

The fact that Elon Musk came from a payment system background, gives credibility to his decision and his vision for this investment. Let's hope he can turn Bitcoin into a currency and not a commodity.    (This is kinda like the Pizza Guy moment for Bitcoin)

Tesla will find a way for sure: probably the easiest solution, even if it sounds a bit of nocoinery, would be to get BTC that are automatically converted into dollars which can be then used to re-buy btc. This could be perfectly legal though it does not sound very appealing.

[freedomno1]

Let us ride the rocket this is Elon we are talking about
At the very least he will bring money in that was observing on the sidelines 
Glad to hodl and be on the ride haha

[stomachgrowls]

One of the greatest thing that do happen aside on that Paypal integration news.Imagine on how these things does have some significant impact on the
entire market.It had driven off past its ATH and now we are almost reaching 50k.Adoption and recognition is on the move and i wont be surprised
if there are more big companies out there or billionaires will really be going into the same path.

I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?

Should I contact my local dealer?

That would be your best shot but since this is just pretty new then i doubt that they had directly impose it in all dealers nationwide
but if you are really that in a hurry then going yourself to the dealer will clear up those questions in mind. 

[TalkStar]

I haven't found any details on how/when they will start accepting bitcoin... has anyone seen anything on this?

Should I contact my local dealer?

Before making the final announcement of accepting Bitcoin Tesla will definitely notify their worldwide community about it and you should wait for that. As far as i know still Tesla is planning to accept bitcoin payment and hopefully we will get final lead from their Founder Elon Musk. In this case you can follow him on twitter or Tesla's official website. 

[bustabitsboy]

In our time, buying bitcoins is very relevant, it is not surprising that Elon Max did just that.  Now Bitcoin will grow from $ 30,000 to $ 50,000 or even higher

[Theb]

Let us not be overly positive with this news the keyword here is "maximize returns" for their cash reserves meaning Tesla/Elon Musk here isn't planning to hodl Bitcoin for long and he is here to profit on their cash reserves which depending on the company's liquidity practices might end up being short as soon as they see a good gain for their money. This is the same thing as what I have said with Microstrateg investing millions in Bitcoin as these companies doesn't only act up as huge commercial money being poured in the market but they also act as a big influence in the market. If we have seen a price rally just because these companies buy Bitcoin just think about what will happen next when they are ready to sell their Bitcoin because I'm sure they can start a FUD once they decide to sell.

[bbc.reporter]

@Theb. Agreed! However, from bitcoin’s price today, how much is it to maximize their returns? Triple the price? I speculate Tesla is expecting not less than 5x profit from the trade. This might only be beginning. Other billionaires are also beginning to consider bitcoin. The bear market will be intruiging, however hehehe.