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Hack Forums Money Crypto Currency › Tesla Sold $272MM worth of Bitcoin

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Tesla Sold $272MM worth of Bitcoin
_daniel
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Apr 26, 2021 11:27 PM
Tesla sold $272MM worth of Bitcoin after only holding for less than a quarter of a year.

[Image: image-33-1-1200x174.png]
From: https://www.coindesk.com/tesla-sold-bitc...ds-of-272m

What are your thoughts?
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Apr 26, 2021 11:39 PM
If they were only wanting to have what, 8% of their cash in crypto then it's expected they would derisk down to that amount again.
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Apr 27, 2021 12:42 AM (This post was last modified: Apr 27, 2021 12:42 AM by SIM-1866423.)
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_daniel
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Apr 27, 2021 01:34 AM (This post was last modified: Apr 27, 2021 02:12 AM by _daniel.)
(Apr 27, 2021 12:42 AM)SIM-1866423 Wrote:  [Image: hZGPGwm.png]

I wonder why he needs to prove liquidity right before releasing earnings 🕵️

Maybe he just needed to pump the books for earnings, just like how they double charged customers accidentally

One would need to test the liquidity to sell, if they planned on selling in the future.
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BaldCunt
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Apr 27, 2021 02:57 AM
Elon Musk gambles a lot of his cash and liquidities between his companies.
If one needs more fund, instead of getting more investor he just takes some earnings from the other then put it back again when profits are made.

DYOR

I heard he's looking to sell @100k - 110K, not that sure but I'm hoping it's true.
Let all the major investors ride then dump and pump again.

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Apr 27, 2021 02:59 AM
People have too much faith in Elon Musk. This man started paypal the most cancerous service ever invented. He is out for himself only.
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Apr 27, 2021 03:22 AM
Elon Musk use to be alright, until he warned us all about the Dangers of AI but is ahead of AI development, don't get me started on space force,but shoot maybe now we'll get an actual pic of earth instead of cgi.
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Apr 27, 2021 03:23 AM
Imagine being this obsessed over Elon Musk. It's like we're back to being 12 years old and hating justin bieber just because he got more pussy. It's time to grow up boys.
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Apr 27, 2021 03:24 AM
Elon Musk use to be alright, until he warned us all about the Dangers of AI but is ahead of AI development, don't get me started on space x, but shoot maybe now we'll get an actual pic of earth instead of cgi.
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Apr 27, 2021 10:43 AM
They're buying alt coins lol
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Apr 27, 2021 03:20 PM
(Apr 27, 2021 02:57 AM)BaldCunt Wrote:  Elon Musk gambles a lot of his cash and liquidities between his companies.
If one needs more fund, instead of getting more investor he just takes some earnings from the other then put it back again when profits are made.

DYOR

I heard he's looking to sell @100k - 110K, not that sure but I'm hoping it's true.
Let all the major investors ride then dump and pump again.

Why the f would you hope that's true? Major investors is how Bitcoin is ever going to have a shot at becoming global..
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Apr 27, 2021 03:25 PM
May have been the reason for the dip?

Either way, its fine. If its supposed to be a currency, this is going to happen.
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Apr 27, 2021 04:29 PM
Ignoring the specific example to Tesla... Institutions are here to maximize shareholder wealth or increase the profit % they can show investors. They're here to stay but they're here to make money so they're going to take profits when it's time.

Not sure if anyone was expecting them to be hodling forever or something. That's pretty unrealistic, unless every company is Microstrategy but newsflash - they aren't.
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Apr 27, 2021 06:51 PM
Another way of phrasing this that gives a different perspective...

"Despite being up nearly $1 billion in profit, Tesla elects to sell only 10% of their Bitcoin holdings."
_daniel
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Apr 27, 2021 07:41 PM
(Apr 27, 2021 06:51 PM).Infinity. Wrote:  Another way of phrasing this that gives a different perspective...

"Despite being up nearly $1 billion in profit, Tesla elects to sell only 10% of their Bitcoin holdings."

Of course, you can reword it, I just synthesized the Coindesk article subject.

It's interesting how people idolise/defend this action even when it goes against the "hodl" narrative
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