Dave1
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October 15, 2021, 12:54:43 AM |
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If Tesla (EM) did not sell all that BTC, then it would be more accurate to say that it is an unrealized profit - and EM has stated that it has no intention of selling that BTC, although this may change at any time.
This lol. Technically, it really isn't considered as "profits" if the assets haven't been sold yet in the first place. It's quite misleading, but I guess Cointelegraph's goal was to make it misleading enough to trick people into talking about it, and here we are. 🤷♂️ And the same thing when people see their portfolio going down, getting in red and say that they have lost money in the market because the price goes down. And yet they failed to realized that it is not a lost because they actually haven't sold any. So this should be a lesson to everyone. Don't call it a profit or lost when you don't sold. As usual, Cointelegraph and any other crypto media for that matter is pure click-bait.
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yhiaali3
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October 15, 2021, 01:07:20 AM |
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Elon Musk must be very happy now!!! But I do not know if after these huge profits that his company achieved as a result of storing bitcoins, he will continue to worry about bitcoin polluting the environment??!!! These profits must make him forget the environment permanently!!! His statements were the reason for Bitcoin to drop at that time from its historical peak, but here is the Bitcoin back again and soon it will exceed its previous peak and of course Tesla will continue to make more profits!!!
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Sithara007
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October 15, 2021, 02:55:59 AM |
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Elon Musk must be very happy now!!! But I do not know if after these huge profits that his company achieved as a result of storing bitcoins, he will continue to worry about bitcoin polluting the environment??!!! These profits must make him forget the environment permanently!!! His statements were the reason for Bitcoin to drop at that time from its historical peak, but here is the Bitcoin back again and soon it will exceed its previous peak and of course Tesla will continue to make more profits!!!
Elon is a hypocrite. He promoted a very inefficient coin (Doge) after blasting Bitcoin with the excuse of power consumption. We did the mistake by trusting this loser. He made billions of USD from Bitcoin, and then badmouthed the very asset that provided him with these profits (thereby causing losses to ordinary Bitcoin users). But the good thing is that no one takes him seriously these days. He made too may twists and turns, and people lost their trust in him. I would say that, it is a positive development.
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mk4
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October 15, 2021, 03:37:39 AM |
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If Elon decides to drop his bags today, the market will suffer a massive tragedy, perhaps even greater than the last Covid 19 dump. The future of bitcoin is something to keep an eye on, especially now that Elon Musk leads the pack of billionaire wolves.
Elon said that the remaining bitcoin purchases of Tesla was for long-term holding. And, let's not forget that Elon already sold in the past, so if they were to sell again, I'd guess that the market effect wouldn't be too drastic as you're describing.
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Kemarit
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October 15, 2021, 03:44:33 AM |
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If Elon decides to drop his bags today, the market will suffer a massive tragedy, perhaps even greater than the last Covid 19 dump. The future of bitcoin is something to keep an eye on, especially now that Elon Musk leads the pack of billionaire wolves.
Elon said that the remaining bitcoin purchases of Tesla was for long-term holding. And, let's not forget that Elon already sold in the past, so if they were to sell again, I'd guess that the market effect wouldn't be too drastic as you're describing. And as far as I can remember, they've sold before to "test the market liquidity", so I guess they've got the results they wanted already and most likely it passed on their side. So yeah, they are here for the long term, and it has proven a good move on Tesla and all other companies that decided to hedge there assets on bitcoin and put in on their balance sheet.
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traderethereum
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October 15, 2021, 07:30:01 AM |
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I believe Tesla makes more than 1 billion profits from bitcoin holding because we do not know the right amount of bitcoin. They could use the other wallet to hide the total amount of bitcoin they held because it would be too risky to tell the public how many bitcoins they have. But 1 billion is a lot of money and only the whales involved in bitcoin from a long time ago have that amount. While we can only accumulate from a small part of a satoshi, they can sell it right away at the current price. Yes, Tesla or Elon is very happy now seeing how much bitcoin price reaches until today.
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NeuroticFish
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October 15, 2021, 07:55:30 AM |
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If Elon decides to drop his bags today, the market will suffer a massive tragedy, perhaps even greater than the last Covid 19 dump. The future of bitcoin is something to keep an eye on, especially now that Elon Musk leads the pack of billionaire wolves.
If you really want to, you can always stay afraid that this or that will sell. Nobody stops you from that. But would it make sense economically to sell now if they don't really need that money? I don't think so. Not yet. Well, if you turned the table round, I think you'll see it as a profit either way. If they choose to sell, they'll make out their cash and wait for the next bearish season so they'll increase what they bag. That's a profit, except that they said they won't be selling any of their holdings which we cannot vouch for. ![Lips sealed](https://bitcointalk.org/Smileys/default/lipsrsealed.gif) I would indeed see it as profit. But such a big company probably has people with more experience in handling values and they will stay real. And, as I said, I think that they will not rush to sell if they don't have to, in the same way the banks don't sell and re-buy their gold based on market moves.
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cryptomaniac_xxx
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October 15, 2021, 10:17:21 AM |
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Elon Musk must be very happy now!!! But I do not know if after these huge profits that his company achieved as a result of storing bitcoins, he will continue to worry about bitcoin polluting the environment??!!! These profits must make him forget the environment permanently!!! His statements were the reason for Bitcoin to drop at that time from its historical peak, but here is the Bitcoin back again and soon it will exceed its previous peak and of course Tesla will continue to make more profits!!!
Elon is a hypocrite. He promoted a very inefficient coin (Doge) after blasting Bitcoin with the excuse of power consumption. We did the mistake by trusting this loser. He made billions of USD from Bitcoin, and then badmouthed the very asset that provided him with these profits (thereby causing losses to ordinary Bitcoin users). But the good thing is that no one takes him seriously these days. He made too may twists and turns, and people lost their trust in him. I would say that, it is a positive development. And in the end, it was still bitcoin and those who "trusted" on it won. It just exposed how close minded these billionaires are, as we have said, just for the sake of making money. However, this businessman are known to be very smart so I doubt that he will simply sell their holdings. They are just going to keep it somewhere because they are going for a long term investment. They have been making billions already, so why the rush of selling it right now when they can still double their money in the next 3 months?
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Lucius
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October 15, 2021, 10:28:36 AM |
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43,200 BTC is enough to affect the market but on a short-term basis, and tesla was one of the first companies that publicly adopt Bitcoin and also buying a big amount of Bitcoin which is the center of the topic.
You are obviously sticking to the story you read in that article, even though the amount you are quoting is not very likely to be correct. However, regardless of the difference of 2000 BTC, the total amount in itself means nothing looking at the total BTC market, and even if Tesla decides to sell everything, we would find out in a month or two, because such quantities are sold mainly through OTC. It is true that Tesla is individually the largest publicly known purchase if we take fiat value as the primary factor, but months before Tesla another player bought 21 454 BTC, and proved much more intelligent if we consider that he paid only $250 million for them - and Tesla is paid as much as $750 million for the same amount. A much more important thing in all this is that EM decided to remove Bitcoin as a means of payment from Tesla, and that sent a very bad signal to the public - is Bitcoin so bad (looking at the environmental impact) that we don't use it as a currency? Of course not, every user of this forum who has read a few meaningful posts on this topic knows that. So in my opinion, EM has done more harm than good to Bitcoin when all his moves are analyzed - and many have lost a lot of money following him in his woof-woof adventure.
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Leviathan.007
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October 15, 2021, 10:46:52 AM |
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As we know Tesla didn't actually get any profits yet, because we can't be a hundred percent sure if Tesla sold the bitcoins or not, recently, they said and they didn't sell any bitcoins yet and if they really didn't sell the bitcoins the didn't exit the market with pockets full of money. If they really didn't sell, and the price goes down and fall more than the price they really bought they may even lose some money, however, we don't know and can't be sure when the bought bitcoin and we can't be sure if they did take any profit or not.
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Lucius
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October 15, 2021, 01:39:18 PM |
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As we know Tesla didn't actually get any profits yet, because we can't be a hundred percent sure if Tesla sold the bitcoins or not...
https://bitcointalk.org/index.php?topic=5365694.msg58178897#msg58178897In mid-March, it sold 10% of its holdings, around 4,100 coins, at an average price of almost $60,000, booking a profit of $128 million (reduced to $101 million by an "impairment" charge). Information that can be read in post number 2 of this topic, which is proof that you haven’t read anything more than the title and maybe the first post. We are discussing the facts, speculation on this topic is really unnecessary.
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BITCOIN4X
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October 15, 2021, 01:54:02 PM |
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Elon Musk must be very happy now!!! But I do not know if after these huge profits that his company achieved as a result of storing bitcoins, he will continue to worry about bitcoin polluting the environment??!!! These profits must make him forget the environment permanently!!! His statements were the reason for Bitcoin to drop at that time from its historical peak, but here is the Bitcoin back again and soon it will exceed its previous peak and of course Tesla will continue to make more profits!!!
It seem like Elon Musk isn't one of those environmentalist so it's entirely possible he could ignore it even though we've all heard his comment about bitcoin mining being considered polluting the environment has become FUD and lowered the price of bitcoin instantly. But after the noise died down, we were all back on the good track and now bitcoin price is almost on par with ATH before. I might be a little worried about the possible FUD that will occur during this uptrend so I think some caution should still be taken. Although it seem that many people don't care enough about that now after the China ban didn't have a big impact on bitcoin but vigilance remain to be considered especially for us day trader.
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LogitechMouse
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October 15, 2021, 02:47:46 PM |
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A billion of UNREALIZED PROFITS. At least Cointelegraph specified that these are unrealized profits that Tesla got since they aren't selling their Bitcoins at this moment and right now, they have no intentions of selling it. I'm thinking if what will be the effect if Tesla said to the public that "It is a hard decision but we will sell the Bitcoins that we are holding for the betterment of the company" ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) . Not exactly the same but you get the point. Maybe it will have a huge effect into the investors themselves and possible negative. It might also create a more selling pressure thus, causing the price of Bitcoin to go even lower. This might not happen though and the opposite might happen as well. We don't know but I'm curious with it.
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passwordnow
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October 15, 2021, 03:12:04 PM |
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Good for them that they've got profit already and it's all on them if they'll dump those soon and take their profits to fund some other project which they usually do. But since they haven't sold it and this is like a paper profit, if the market starts to drop and it's a huge drop/correction that we see, we will have a guess that it's going to be Tesla has been dropping their bombs to the market and started to take huge profit from the actual capital that they've got.
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Timelord2067
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October 15, 2021, 04:44:04 PM |
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OP: Feel free to add this piece of code to your first post: [url=https://youmeandbtc.com/bitcoin-converter][img]https://youmeandbtc.com/bitcoin-converter-php.php?dir=frombtc&val=43200.000&cur=usd&btctype=btc&exchange=Bitstamp&dec=8&bgc=DDEEFF&txtc=111133[/img][/url] Which gives you a fairly accurate value of what those 43,200 Bitcoin are currently worth. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fyoumeandbtc.com%2Fbitcoin-converter-php.php%3Fdir%3Dfrombtc%26val%3D43200.00%26cur%3Dusd%26btctype%3Dbtc%26exchange%3DBitstamp%26dec%3D8%26bgc%3DDDEEFF%26txtc%3D111133&t=665&c=5fuezc7fUK96ug)
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bekti3
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October 15, 2021, 04:53:25 PM |
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i read the article linked by the OP and i got dizzy with the explanation of the article. and in this news I don't think it will affect bitcoin even if they for or lose I don't care about the company. and I don't think it has any effect on bitcoin because they are still holding the coin it will be a different story when they make a return.
43,200 BTC is enough to affect the market but on a short-term basis, and tesla was one of the first companies that publicly adopt Bitcoin and also buying a big amount of Bitcoin which is the center of the topic. they at that time wanted to create hype and fomo for bitcoin like they did with doge but it seems btc is too strong to beat ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) And you're saying that $43k when adopted has an effect in the short term? it's just his followers who enter btc hoping to make a profit. you are too naive to expect testla with a total adoption of $43k to correct the market.
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Gyfts
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October 15, 2021, 06:51:54 PM |
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If Tesla (EM) did not sell all that BTC, then it would be more accurate to say that it is an unrealized profit - and EM has stated that it has no intention of selling that BTC, although this may change at any time. In addition, Tesla appears to have bought a total of 46 000 BTC at an average price of $32 610, but sold 10%, so the total amount of BTC is now 41 400 currently worth 2.375 billion. In Q4 of last year, Musk purchased $1.5 billion in Bitcoin in one of the most adventurous moves ever undertaken by a corporate treasury. CFO Zach Kirkhorn praised the gambit as "a good place to place some of our cash that's not being used, and get a good return on that." By my math, Tesla bought 46,000 coins at an average price of $32,610. In mid-March, it sold 10% of its holdings, around 4,100 coins, at an average price of almost $60,000, booking a profit of $128 million (reduced to $101 million by an "impairment" charge). I think the point is the unrealized gains are after Musk trashed Bitcoin for being ineffective energy wise, meanwhile they continue to hold crypto knowing well they can profit from it. If Musk truly believed crypto was worthless and an energy waste, I'm not sure why his company would retain their Bitcoin savings. The 10 percent sell off isn't very significant. Their holding because they know the coins have value, despite what Musk wants to say.
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mindrust
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October 15, 2021, 06:58:21 PM |
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Apparently holding/trading bitcoin makes more money for tesla than building/selling cars. Which makes me wonder... why don't tesla dump their car business and become a full time bitcoin holder/trader? They would mage huge profits. The investors will be even rich. The stock price of tesla would go nuts. Tesla would become a huge crypto hedge fund being managed by Elon. Why get all the headache with EV's batteries and crap? Just buy and hold b-t-c.
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perfect999
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October 16, 2021, 10:16:51 AM |
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The price of bitcoin has been increasing this week, and the last twenty four hours it has already reached over $60,000 in price. The last time that I have checked,it is around $59,000 and I know by tomorrow it’s likely to reach that $60,000 again. I am not surprised that companies are making huge profit now. I even thought that Tesla was going to sell the coins that they bought then because of what happened WITH Elon Musk saying that bitcoin is not a good cryptocurrency and the bitcoin community coming for him after he said that, and many people started to think that Tesla have sold their coins, I’m surprised that they are still holding it.
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tyz
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October 16, 2021, 10:23:09 AM |
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If Tesla (EM) did not sell all that BTC, then it would be more accurate to say that it is an unrealized profit - and EM has stated that it has no intention of selling that BTC, although this may change at any time.
This lol. Technically, it really isn't considered as "profits" if the assets haven't been sold yet in the first place. It's quite misleading, but I guess Cointelegraph's goal was to make it misleading enough to trick people into talking about it, and here we are. 🤷♂️ Yep, it's just book value. But teaching people this is really difficult. I recently had a case with a friend. He had bought Doge and in the meantime he had a "profit" of about 120%, but he had not sold and now stands at -10%. He complained it's not fair that all of his profit is gone now ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I then told him there is no profit until you sell. So you never made a profit, and so you never lost a profit. He looked at me like I was out of this world.
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