Effect of Tesla bitcoin sale not significant

[pooya87]

In that regard I don't think that he is any worse than a huge majority of bitcoin hodlers who only see it as a way to increase their fiat amount and bitcoin proved to be a very good for that.

The hypocrisy makes him worse. Those people who invest in bitcoin for profit aren't lying about it, in fact they call bitcoin an asset not a currency. Whereas Elon has pretended to care about the technology, ran a full node, used it as a currency in his business, etc. then suddenly went back on all that and showed his true face when he started pump and dumping an altcoin.

[bbc.reporter]

@pooya87. This is very similar to much of the hodlers in the cryptospace. It might not be only hypocrisy, however. It might also be voluntary blindness from reality and acceptance of anything an influencer would tell them as long as it will help pump the price of bitcoin. I am not being an antagonist, however, bitcoin is not working that good as a hedge for inflation, a store of value and as a medium of exchange. I speculate that many people in the community are beginning to understand this but they are only quiet to avoid being attacked.

[Rikafip]

Those people who invest in bitcoin for profit aren't lying about it, in fact they call bitcoin an asset not a currency.

Yeah, the thing is that people rarely say that, and instead keep going on that they are into bitcoin for the technology and same thing can be seen here. In reality, majority of Elon haters wouldn't mind if he started shilling bitcoin all over again if it means bitcoin price going up.

Don't get me wrong, I don't like Musk but I don't hate him either because I never fooled myself that he is in bitcoin for anything else other than making more fiat, same as majority of others. And they would probably do the same thing if they have that kind of influence. This is just the beginning though as in the next bull run I expect more big names doing the similar thing. Its inevitable.

[NeuroticFish]

Don't forget that he is a businessman, and he is also the richest man in the world. If he were stupid enough to sell his fortune at a loss, he wouldn't be the richest man on the planet.

There are 2 mistakes I see here:
1. Even the richest can lose now and then, usually they take small loses to avoid bigger ones or to make a much better business soon afterwards.
2. Tesla is not only Elon Musk. I expect there's a board that take decisions and those decisions may or may not be influenced by what Elon Musk wants.

Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.

Yeah, this sounds more like it. Either there was no loss at all (as @Rikafip already said), either the loss was smaller than the previous gains.
Twitter is, yet again, unreliable.

[FanEagle]

This was known a long time ago, it would not impact bitcoin that much. No single move could ever move it at all, and that is why I believe that we shouldn't really put this much emphasis on them. Just realize that crypto is something that would end up not being a big deal with a centralized move. What happens however is one person does something and in return it becomes a big trouble for all other people who gets scared and sells and that's the trouble.

I believe that what Elon sold didn't matter, but what others sold because Elon sold mattered and that's the trouble. In any case we are still doing fine, the price is still fine and there is no doubt about that.

[ivankoh]

Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.

I agree with this because it really has a basis.

In fact, some news has indicated that Tesla has an average buy at $29k but I doubt this is the price Tesla bought back after the big sale in May 2021.  Although the difference may not seem like much, I think Elon is not an unreliable person and he certainly does not want to hold that huge pressure.

[PrimeNumber7]

In that regard I don't think that he is any worse than a huge majority of bitcoin hodlers who only see it as a way to increase their fiat amount and bitcoin proved to be a very good for that.

The hypocrisy makes him worse. Those people who invest in bitcoin for profit aren't lying about it, in fact they call bitcoin an asset not a currency. Whereas Elon has pretended to care about the technology, ran a full node, used it as a currency in his business, etc. then suddenly went back on all that and showed his true face when he started pump and dumping an altcoin.

I don't think Musk stood to substantially profit off of any DOGE he held when compared to his total net worth. I think it is more likely that he was genuinely interested in the technology....that or he enjoyed joking around with the meme of DOGE.

Other than the sale itself, I doubt this will have an impact on the market. Telsa was just an entity holding some coin. The decision to stop accepting bitcoin for payment for their cars likely had a larger impact, as it mean there was one less way for people to spend their coin without first converting it to fiat. It also meant that Tesla was not going to try to start paying their suppliers in bitcoin.

[goaldigger]

Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.

I agree with this because it really has a basis.

In fact, some news has indicated that Tesla has an average buy at $29k but I doubt this is the price Tesla bought back after the big sale in May 2021.  Although the difference may not seem like much, I think Elon is not an unreliable person and he certainly does not want to hold that huge pressure.

Wondering why they sell at a big loss and yet Elon is claiming that they have a diamond hands. We should really not to rely on any statements from Elon because he is trying to Manipulate the market again. There’s a huge effect  of this action since we are talking about big money here and probably this is one of the reason why we are still down today. Big investors like Tesla is a big loss but then again, someone will just catch those falling knives to hold longer and play wisely.

[KennyR]

Don't forget that he is a businessman, and he is also the richest man in the world. If he were stupid enough to sell his fortune at a loss, he wouldn't be the richest man on the planet.

Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.

Rather than a businessman, he's a genius guy who has the ability to make money out of anything. He had practiced that for years and stays on the top. Now too it seems like ha haven't sold out of loss. There is a news into circulation that Musk have sold 900+ million worth of bitcoin and there is no perfect data on the same. This could be a play to test the market and enter at a lower price to profit through further tweets. There is no big movement from the common people as they've well understood about Elon Musk on cryptocurrencies.

[fuguebtc]

Twitter is, yet again, unreliable.

If discussing the twitter deal, I think he's just having a bigger plot than just a joke. His cancellation of the deal will be a big blow to Twitter stock, the stock of this social network will surely plummet and then he will continue to offer to buy it back at a price that will be much cheaper than the $44 billion was initially valued. He's just trying to manipulate every market he can, and I don't fully believe what he claims.

[Wilhelm]

Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.

I agree with this because it really has a basis.

In fact, some news has indicated that Tesla has an average buy at $29k but I doubt this is the price Tesla bought back after the big sale in May 2021.  Although the difference may not seem like much, I think Elon is not an unreliable person and he certainly does not want to hold that huge pressure.

Wondering why they sell at a big loss and yet Elon is claiming that they have a diamond hands. We should really not to rely on any statements from Elon because he is trying to Manipulate the market again. There’s a huge effect  of this action since we are talking about big money here and probably this is one of the reason why we are still down today. Big investors like Tesla is a big loss but then again, someone will just catch those falling knives to hold longer and play wisely.

I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...

[mumang siat]

Elon Musk didn't explicitly mention that he didn't like bitcoin, even when rumors circulated that he was starting to leave Dogecoin, this is a mess of news that is presented to the public, so that market manipulation can be done his way.

That's why social media now mostly presents news that is not in accordance with the facts that happened, the news that is released does not go through a proper analysis process, they don't even pay attention to the negative effects caused by the news, indeed not all news that is released is like that, but almost completely I find it like that, if someone trusts the news too much, without going through the analysis selection that we have, then we will almost completely get stuck, for now I'm not so sure about the available articles

[peter0425]

Elon Musk didn't explicitly mention that he didn't like bitcoin, even when rumors circulated that he was starting to leave Dogecoin, this is a mess of news that is presented to the public, so that market manipulation can be done his way.

know what/ because this person will never be certain in anything , he will keep changing  words and decision from here and there .

remember that there are multiple times that This clown make an announcement to only favor him than everyone here.

for now I'm not so sure about the available articles
Selengkapnya tentang teks sumber iniDiperlukan teks sumber untuk mendapatkan informasi terjemahan tambahan

don't share a local article mate , because this is an english board , this needs translation before being understand of every other countries .

[adaseb]

Seems like his sell once again triggered a sell off. The weekend has ended and we start the week with a down trend again. Most likely we are headed to the $20k.

It’s crazy how his actions influence the crypto markets. First time he bought we went all the way to $60K. Then he stopped accepting BTC due to environment reasons and caused the first sell off. Now the news that he sold most of his position again looks like it marked a local top.

[bbc.reporter]

Based on price averaging, it can be inferred that Tesla lost money in the most recent bitcoin sale, but we don't have specific data for their bitcoin buy orders so nothing can be confirmed.

I agree with this because it really has a basis.

In fact, some news has indicated that Tesla has an average buy at $29k but I doubt this is the price Tesla bought back after the big sale in May 2021.  Although the difference may not seem like much, I think Elon is not an unreliable person and he certainly does not want to hold that huge pressure.

Wondering why they sell at a big loss and yet Elon is claiming that they have a diamond hands. We should really not to rely on any statements from Elon because he is trying to Manipulate the market again. There’s a huge effect  of this action since we are talking about big money here and probably this is one of the reason why we are still down today. Big investors like Tesla is a big loss but then again, someone will just catch those falling knives to hold longer and play wisely.

I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...

Tesla can invent many reasons why they have decided to sell their bitcoins, however, the reality might be Tesla cannot hold a speculative investment that brings negative numbers in their monthly income statement during a bear market. It will not attract investors in their stock and will not be good for the price.

[NeuroticFish]

Twitter is, yet again, unreliable.

If discussing the twitter deal

Nope, you've misunderstood me. The context was that on Twitter many were (incorrectly) claiming that Tesla bought high and sold low their bitcoin stash.
That attempt of buying Twitter (or whatever that was) is another story and it's off-topic here.

I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...

This sounds interesting, but I'm certain that another reason was to also have a good looking balance sheet.

[mumang siat]

Elon Musk didn't explicitly mention that he didn't like bitcoin, even when rumors circulated that he was starting to leave Dogecoin, this is a mess of news that is presented to the public, so that market manipulation can be done his way.

know what/ because this person will never be certain in anything , he will keep changing  words and decision from here and there .

remember that there are multiple times that This clown make an announcement to only favor him than everyone here.

He does things only for his personal gain, so that in any way to provide information that he thinks is correct, technological developments must have filters to understand every problem caused by the many articles or news sources that are released.

If people are not selective in receiving information, many things will be harmed. Therefore, it is necessary to analyze and understand something before making a decision

[bbc.reporter]

I heard that it could have to do with ESG regulatory compliance. Aka a transparent risk management framework.
He might have been forced to sell to lower the risk...

This sounds interesting, but I'm certain that another reason was to also have a good looking balance sheet.

Yes, they clearly did it to report positive earnings for their 2nd quarter conference call. According to this article, Tesla sold $936 million and this gave Tesla a quarterly profit of $64 million. If they did not sell their bitcoin, their earnings report would ceratinly be negative.



As per the company's 10-Q filing with the Securities and Exchange Commission (SEC), Tesla sold 75 percent of its bitcoin (BTC) holding for a total of $936 million. In the process, the electric car company made a profit of $64 million in the second quarter of 2022.

Source https://www.cnbctv18.com/cryptocurrency/bitcoin-sale-tesla-nets-64-million-profit-says-filing-with-sec-14257302.htm

[Joshapat]

This proves that the Bitcoin community is very solid and does not care about any issue, as long as Elon Musk Invest Bitcoin many say that Bitcoin is very dependent on Elon Musk, and after they sell Bitcoin and the market looks ordinary this is silent perception and increasingly shows that bitcoin is very promising assets.