BITCOIN

Zola.

Maybe.. but why would he not sell all? Tesla ultimately still has $375 million in bitcoin.

He claims he needs cash, which there is probably an element of truth to now that he is in a legal battle with Twitter over a $44Bn takeover. 

Section62

Reaper said:

Interesting to hear Elon Musk has sold 75% of his Bitcoin just 14 months after saying he would not. 
https://www.bbc.co.uk/news/business-62246367

Was that a lie to keep the price up as he sold? Even if it was it is an unregulated market so he can tweet whatever he likes, unlike his tweets that affected the share price - they got him into hot water.

....Tesla's Bitcoin, not 'his'.

Which means the Bitcoin of everyone with an investment which includes Tesla shares...  there should be some kind of reckoning for the directors of listed companies who've gambled speculated on crypto and in doing so lost shareholder's money, just as there should be for any other unwise decisions that have the same effect.

YellowStarling

Sold to boost Tesla earnings.

Zola.

YellowStarling said:

Sold to boost Tesla earnings.

Think that has to be it also..

Tesla has fallen victim to supply chain chaos in China and a damaging bet on Bitcoin, bringing a record run of profits at Elon Musk’s car company to a sudden end.

The electric vehicle maker also sold off a chunk of its Bitcoin holdings, the company said on Wednesday, as its bet on the cryptocurrency soured. 

Revenues at Tesla dropped by 9pc between the second and first quarter to $16.9bn (£14.1bn), though were still 42pc higher than a year earlier.

Its revenues were down on the record three-month revenues of $18.8bn it posted earlier this year amid supply chain woes and a factory shut down in China due to Covid restrictions.

Telsa said it “faced certain challenges, including limited production and shutdowns in Shanghai for the majority of the quarter” but claimed it “continued to make significant progress across the business during the second quarter of 2022”.

Earlier this month, Tesla reported it had delivered more than 254,000 electric vehicles, down from around 300,000 in the previous quarter.

DoublePolaroid

Elon Musk, like every super wealthy, well-connected American entrepreneur, is basically above the law. He’s been getting away with market manipulation for years and he’ll get off with a meaningless (for him) fine for the Twitter takeover nonsense.

Zola.

I like his stance on Twitter though, its almost unusable from all the spam bots.. Twitter are clearly lying by not disclosing the data around the true amount of bots, its a lot more than 5% that they claim. 

Reaper

Zola. said:

I like his stance on Twitter though, its almost unusable from all the spam bots.. Twitter are clearly lying by not disclosing the data around the true amount of bots, its a lot more than 5% that they claim. 

I have less sympathy for him. He was in such a rush to buy twitter that most unusually he waived his right for due diligence. Then when the markets dropped (particularly tech stocks) and his bid looked somewhere between pricey and unaffordable he starts whinging that he isn't being helped with a due diligence issue.

I have no idea whether the percentage of spam accounts is accurate or not but it gives him no grounds to walk away from the deal. He is dangerously impulsive and both the Bitcoin and Twitter issues will hurt him financially.

Zola.

https://www.bbc.co.uk/news/uk-england-oxfordshire-62399371.amp

mooneysaver

2012: "No one uses it"

2013: "Only criminals use it"

2015: "Only nerds use it"

2017: "Only speculators use it"

2019: "Only a small % of the world uses it"

2020: "Only small companies use it"

2021: "Only small countries use it"
2022: "Only non-league football teams use it"

Cus

After the last few minutes months has it shook you Zola our are you still committed?  

What kind of events need to happen for you to cut losses?
Comment: This is not a dig, I'd like to know what a pro bitcoin investor thinks?