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Author Topic: How many bitcoins did Tesla earn from selling cars?  (Read 320 times)
Husires (OP)
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May 13, 2021, 05:16:08 PM
Merited by malevolent (2)
 #1

Two months ago, Tesla announced that it accepts Bitcoin payments and since that time I haven't seen any analysis showing the number of successful transactions that have taken place or any story of a person buying a car using bitcoin.
Does anyone know how much coins Tesla got from accepting bitcoin?

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May 13, 2021, 05:45:19 PM
 #2

They hasn't been any official report from them regarding the figures on their sales on bitcoin payments, but probably it's just small considering that bitcoin is still preferred as an asset rather than a form of payment given its tendency to appreciate in value in a small time-frame. I'm also curious since Tesla announced that they would no longer be accepting bitcoin payments on Tesla, and there must be a reason behind this considering that it may affect—and it actually did—their stock prices.
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May 13, 2021, 06:31:20 PM
 #3

Tesla is actually all against Bitcoins now. If you did hear the recent new you would have seen where they banned the usage of cryptocurrencies in their company. Which was actually sad.
Here is a quote:
Quote
“Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.”

At the same time they have started putting the focus on dogecoin for sure. They are putting up polls and people are buying it literally hoarding. See it's not unreasonable but it's so sudden.
They won't actually release anything now. There is nothing that can be done but then again Bitcoins is going strong. We saw a dip but it was indeed not so worse.
The link to the article: https://www.google.com/amp/s/www.independent.co.uk/life-style/gadgets-and-tech/elon-musk-bitcoin-crash-tesla-cryptocurrency-b1846650.html%3famp

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Smartvirus
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May 13, 2021, 06:44:55 PM
 #4

Definitely they most have made some sales but, I think they were in the process of still analysing there sales reports and all while coming to terms to the fact that, they are actually accepting bitcoin as medium of payment amidst investment for them too. Now, its so unfortunate that, Tesla is having issues with bitcoin and as such, coming to the air to give an actual unbiased statement of bitcoin in relations to its sales would come with some critics they would want to avoid. Though, I think it definitely will be good as crypto patronising companies would want to guvenit a trier.

R


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May 13, 2021, 07:10:09 PM
Merited by The Sceptical Chymist (2)
 #5

Two months ago, Tesla announced that it accepts Bitcoin payments and since that time I haven't seen any analysis showing the number of successful transactions that have taken place or any story of a person buying a car using bitcoin.
Does anyone know how much coins Tesla got from accepting bitcoin?

I hope you do know that just recently, I believe it's just some days ago, Tesla announced that it will no longer be accepting bitcoin for car purchases. No one knows the actual reason but I guess it's all part of Elon Musk's scheme to make dogecoin the superior coin. He has been clamouring for dogecoin.
Concerning the amount of bitcoin they were able to receive as payment for cars in the few months they accepted it, there has not been an official statement on that which means we don't know the actual amount.
I, however, do think it won't be a large figure. This is because many people consider bitcoin too expensive to be used as a currency to buy cars. Quite a lot people still believe bitcoin is still an investment asset

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May 13, 2021, 11:50:38 PM
 #6

Historically the demand for tesla EVs has always been significantly greater than production & supply.

More consumers want tesla cars than their factories can produce.

They didn't need bitcoin support to boost sales demand. They had no trouble filling all available orders without crypto.

It all depends on how much of a rush they were in to take orders in BTC. Perhaps they expected the price of BTC to climb and wanted to hoard more.

Its all speculation unless official numbers are divulged in tesla's next earnings report.
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May 13, 2021, 11:59:16 PM
 #7

Two months ago, Tesla announced that it accepts Bitcoin payments and since that time I haven't seen any analysis showing the number of successful transactions that have taken place or any story of a person buying a car using bitcoin.
Does anyone know how much coins Tesla got from accepting bitcoin?
It isn't really that important or needed? Actually these are personal informations that you can just able to know or can be seen on public places or in net because these are numbers
which Tesla itself could produce or show.

Now that tesla is holding out bitcoin payments or transactions due to environmental issues and this proves out that anything could changed out in a snap.

When issues been raised up then expect that there would be specific steps or changes would be made.

R


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May 14, 2021, 12:08:35 AM
 #8


They wouldn't post it publicly but there must be someone out there who used bitcoin to buy a Tesla car. People like to show off their success through the things they own like cars. If he accepts dogecoin soon which I guess more people owns dogecoin, there could be more tesla cars running on streets in several months. But we will never see any information on how much doge Tesla earned from the car sales.

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May 14, 2021, 02:10:08 AM
 #9

There's no such data that they've disclosed about how much they've earned and received when they were still accepting bitcoins for their cars. But that's a good information and comparison if they're going to release any info or hint of how much they've made.

If ever they've received already and there were purchases that has been done, I think that they've already sold it and was planned properly by Elon before the announcement.

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May 14, 2021, 03:04:45 AM
 #10

Probably not much, perhaps none at all. I believe the first purchase of a Tesla using Bitcoin as payment would definitely hit the news, but there was no news at all, so there's probably none at all. There might have been an order, which was already probably cancelled since the announcement that Bitcoin is not anymore accepted by Tesla.

But not a big deal really on the part of Tesla. As Hydrogen mentioned, the demand is higher than the production, resulting even to a long list of backend orders. After all, Tesla has the monopoly of EVs.

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May 14, 2021, 06:30:00 AM
 #11

It is all hype and marketing mumbo jumbo, so I would not take this very seriously. In any way, how many Crypto currency enthusiasts will want to use that huge amount of coins to buy a Tesla? Also, why would someone suddenly convert their Fiat cash into Bitcoin to buy a Tesla? Yes, they might do that if Tesla gave some incentive like a discount for people using bitcoins, but they did not do that.  Roll Eyes

Elon Musk only did this to tap some publicity and to pump the price, after he and Tesla bought some bitcoins... giving him a quick couple of millions in profit for the company.  Tongue

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May 14, 2021, 06:36:50 AM
 #12

They never disclose the number but I think the number is gonna be very small and now he's against it, maybe this whole tesla accepting btc as payment method drama is just for getting publication and now he's switching over to doge and I also guess not much of people gonna buy tesla with doge as well. Not to mention crypto payment only limited to the US i think? (cmiiw).
If some people truly want to buy tesla they gonna prefer to do it using fiat money so there won't any problem at all on the way of buying the car, not really a big deal even if tesla stop accepting btc.

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May 14, 2021, 07:34:27 AM
 #13


They wouldn't post it publicly but there must be someone out there who used bitcoin to buy a Tesla car. People like to show off their success through the things they own like cars. If he accepts dogecoin soon which I guess more people owns dogecoin, there could be more tesla cars running on streets in several months. But we will never see any information on how much doge Tesla earned from the car sales.
It wouldn't be posted but we hope that they are going to see it still. Also if they were to show it to us, they might inflate the prices to make it look like there was a lot of bitcoin's that was used to pay for their cars.

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May 14, 2021, 09:14:52 AM
 #14

Elon Musk only did this to tap some publicity and to pump the price, after he and Tesla bought some bitcoins... giving him a quick couple of millions in profit for the company.  Tongue
Spot on. This is exactly what was going on in my mind. I guess some people ended up purchasing Tesla cars with BTC which is simply an added bonus for him since the pump and dump was his major focus basically.

He manipulated the market very smartly and earned huge amounts. He probably won't be able to repeat this again in the future, but his net worth definitely increased.

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May 14, 2021, 05:00:25 PM
 #15

I don’t think their transactions with Bitcoins push though, they didn't provide any numbers as well.  It was only two months since they accepted the payment method but the point of sale for the latest model from Tesla would take at least 1-3 months to process.  Well, it might they now knew how complex it is to accept Bitcoins as a payment method in the back end of the accounting.

If in case that some transactions pushed through, I don’t think that they already have it accounted for on their accounts.  Probably for the 2 months, I think it won't be more than 10 vehicles sold and surely only local clients were able to secure transactions but we will never know.  Especially with the influence, he made from the community.

I think the best thing here is that, regardless of Elon Musk being aboard, we still have a lot of things on our deck and Mark Zuckerberg is still there, as well.
 
Let’s just for the things to happen soon!

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May 14, 2021, 06:23:30 PM
 #16

Historically the demand for tesla EVs has always been significantly greater than production & supply.

More consumers want tesla cars than their factories can produce.

They didn't need bitcoin support to boost sales demand. They had no trouble filling all available orders without crypto.

It all depends on how much of a rush they were in to take orders in BTC. Perhaps they expected the price of BTC to climb and wanted to hoard more.

Its all speculation unless official numbers are divulged in tesla's next earnings report.
That is both a success story from Tesla obviously but also a bit about how they are relatively a new place that doesn't have manufacturing all over the world. For example 4 different car manufacturers who are all foreigners have their manufacturing places in my nation, all because there are 100k+ cars sold here per year which means if they manufacture it on their native nation and send it here that would be very difficult, they would have to ramp up the production by a ton, instead they just started one here, build it here and sell it here, or even nearby nations to my nation.

Tesla has very limited amount of manufacturing places, eventually it will be a lot of places, and those places will get even faster and bigger, at that point it will be like any other place. Plus cars are expensive to manufacture, so most places do not just make a million and wait for it to be sold, they calculate the requests and manufacture accordingly as well, rarely ever excess amount left.

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May 14, 2021, 08:25:33 PM
 #17

Two months ago, Tesla announced that it accepts Bitcoin payments and since that time I haven't seen any analysis showing the number of successful transactions that have taken place or any story of a person buying a car using bitcoin.
Does anyone know how much coins Tesla got from accepting bitcoin?
It also prompts me to ask, whether they actually wanted to sell some cars through Bitcoins or just wanted to create a hype in the market and pump the price. Tesla must have exercised their own research when they decided to accept Bitcoins as a payment method and withdrawing the move now only makes me feel like they only wanted to hype the price and announced it.

Another thing that is confusing is how accepting bitcoins for Tesla cars' payment helps because one can almost immediately buy and sell Bitcoins at any exchange and pay the price for the car they need. If I have money and I need a Tesla car, it doesn't matter if Bitcoins are accepted or not I can always exchange and pay them in whatever coin they want lmao.
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May 14, 2021, 09:14:20 PM
 #18

I don't understand the fantasy of buying a car with BTC. You need to still pay the taxes and shit and you still are doing it 100% legally then why is there a fantasy to buy a car in BTC and if one company takes back their decision of BTC payments how should it matter to a common trader at all.

Big games are being played behind the scenes and the news and tweets and everything are made to make people react in a particular manner. Imagine how cool it would be to short Bitcoins and make a tweet like that which would crash the market and you just earn free money.

Short BTC at 55k --> make a tweet we are abandoning BTC --> Market Crashes --> Easy money!

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May 15, 2021, 03:36:21 AM
 #19

I don't think that Tesla will bring their earnings from selling cars with the payment of bitcoin, they wouldn't do that because they now do not accept bitcoin for payment so there is no need for the public to see it and that earnings would be private for them, but for sure there are some people who bought their car using bitcoin, maybe they are not here in the forum but for sure there is. Maybe in the next few months, we may have the news that Tesla is now accepting Dogecoin as the means of payment that is the alternative cryptocurrency that we can predict as Elon Musk has told it and if that would happen they might show their earnings from Dogecoin.

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May 15, 2021, 05:08:28 AM
 #20

Two months ago, Tesla announced that it accepts Bitcoin payments and since that time I haven't seen any analysis showing the number of successful transactions that have taken place or any story of a person buying a car using bitcoin.
Does anyone know how much coins Tesla got from accepting bitcoin?
Probably one, which also bought by the Elon Musk himself. Cheesy

Don't know how many cars they sold in the 2 months period and I am damn sure that almost 99.99% of them not paid via Bitcoin.

Strategies to make people fool and still its working on these dump people









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