Throwback - Tesla lost $204 million in Bitcoin, but learn the lesson from this!

[Fivestar4everMVP]

Elon musk is a market manipulator and I hate him for that, for what ever reason(selfish reasons actually), he changed his mind on bitcoin after investing billion, he sold, and went ahead to start hyping doge coin, i believe he made billions of dollars as profit from hyping doge coin.
And right about now, I hear he is now drifting, abandoning doge coin, who know which other shitcoin he's going to start hyping in few months from now.
Personally, I do not see any lesson to learn from the bitcoin and Elon musk story, there are better people to learn something good from.

[1714992859]

1714992859

[Gyfts]

The important lesson: No matter if you are individual OR big company you have to have perfect timing for buying and selling. Moreover, you need to know proper strategy to play (no matter how many fouls it would do) but you have to save up your investments and make profits.

Tesla wasn't even investing at that point. They were trying to time the market and were attempting to make short term gains. Nothing wrong with that, but I just don't think they should direct their ire towards crypto if their short term investing strategy doesn't go accordingly.

They're still holding onto some crypto so their losses aren't realized until they sold. And obviously, anyone in for the long haul should not be concerned about what the day-to-day price is.

[Haunebu]

Who cares whether they learnt their lesson or not? Musk made a joke of himself thanks to his crypto shenanigans followed by Twitter drama etc which is why I have zero respect for someone like him.

Tesla had to peak at some point and it did in 2022 all thanks to petty Musk. Sad to see such a unique company suffer because of his foolishness and greed.

[Erumo]

From the article, Tesla lost only 40 millions on crypto. While everyone see this as omission, a loss, I see a very cheap advertising campaign in it. Companies spend hundred millions on ad contracts that last months, Tesla spent only 40 and the effect of it we see for 2 years already. Check the amount of cars sold before and after that "Bitcoin ad campaign" they ran. With 40 millions they covered all media. Brilliant.

[serjent05]

The important lesson: No matter if you are individual OR big company you have to have perfect timing for buying and selling. Moreover, you need to know proper strategy to play (no matter how many fouls it would do) but you have to save up your investments and make profits.

True, the law of supply and demand is universal so whether it is a single person or a huge multi-company, it is still bound by the law.  Knowing the basics, a person in leadership can strategize beautifully in order to maintain or minimize the company's loss during the bloodbath and gain profit when the market uptrend. 

Who cares whether they learnt their lesson or not? Musk made a joke of himself thanks to his crypto shenanigans followed by Twitter drama etc which is why I have zero respect for someone like him.

Tesla had to peak at some point and it did in 2022 all thanks to petty Musk. Sad to see such a unique company suffer because of his foolishness and greed.

Still, Musk is a brilliant businessman.  He wouldn't be where he is if he is not well-versed in the industry.  I still have my respect to Musk cleverness although I hate it when he used it to play with the cryptocurrency market.

[bitgolden]

A man who has hundreds of billions of dollars and is one of the richest in the world will certainly not fail because of a few hundred million dollars, because that is the same as making news that one of us lost $20 because he sold BTC at the wrong time. Everyone who experienced ecstasy because Mr. Mars once loved Bitcoin got slapped and should have learned a lesson after that, but they still think that the great leader will address the world again with some tweet of his that will start an avalanche. If you are among them, be ready to prepare the other cheek, because you deserve a new slap.

The next time you think that Mr. Mars is a good man who changes the world, maybe you should look at the cobalt mines in Africa and ask him if he is proud of his work?

Anyone who still thinks that he is a good person, definitely hasn't been following up on what kind of person he is for the past year. Maybe he was seen as a weirdo who does good things, but that was back when he wasn't this much online. Just the period after he took over twitter would be enough to see and read from his own mouth (or fingers basically in this case) to see he is not a good person at all.

I understand some may still think he is a good person but it is obvious that he is not. He is a self absorbed person with a god-complex and wants to basically rule over mars himself if he can, that is why he is doing all what he is doing, nothing more. And the moment someone dislikes him? Boy oh boy.