How we know there are many OTC (over the counter, or bilateral) trades both of BTC and many non cyrpto assets, but often these are between known parties, eg between pension funds. Twitter racks up its second $1 billion quarter, sending shares to 52-week high The $0.00006 move has been repeated (53500/0.00006=) 891,666,667 times, and if each move is 1.5 feet for the monitor height, it has now moved 1,337,500,000 feet. They'll be buying again, for sure. A year ago, it was worth a quarter of that at $9,900. âI have no idea what will happen once this reaches the newspapers but I think the price will explode even more,â the user wrote. They just need to increase units to drive revenue well past the ceiling of random expense events. That is nearly a fourth of its total profit. Musk said on Twitter that Tesla in essence was trying âto prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.â. Tech disruption is just too fast for Politicians to catch up with then quickly Tesla/Uber/Lyft are rich enough to buy off the politicians and totally dominate the market. Tesla, the electric car company run by the worldâs richest person, Elon Musk, revealed on Monday that it had bought $1.5bn (£1.1bn) in bitcoin and said it ⦠You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. Clutching pearls over selling 10% of a position in BTC is what is actually hilarious. Bitcoin is a ⦠What types of middle men would they have used? A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome. A Reddit user who claimed in a post a month ago to be a Tesla Inc insider and knew about the electric car maker's purchase of bitcoin said on Tuesday that his ⦠Reddit; Tesla has removed its Bitcoin payment option for the online configurator for its electric vehicles overnight. The price of bitcoin has indeed gone up sharply since then, from $32,149.90 per bitcoin on Jan. 2 to nearly $47,000 Tuesday. Bitcoin: 1,337,500,000 feet I think MicroStrategy used Coinbase and was set to buy $1k every minute. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. For MicroStrategy, I think that CB acted like a broker to off-exchange holders, so "in conjunction" probably means using their "black book" of contacts. The price of a Bitcoin is now $55,880 (as of March 24, 2021 at 4:16 AM ET) and while Tesla never confirmed what it paid, the price was likely between $30,000 and 35,000. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome. Earlier today, Tesla announced that it is starting to take payment in Bitcoin in the US. Teslaâs $1.5 billion investment in bitcoin could also be a simple hedge against the hegemony of the U.S. dollar as the worldâs reserve currency since World War Two. CB must themselves require these whale holders for their own liquidity. 47 votes, 72 comments. Making money off of trading is too lucrative, thatâs why. The user, claiming he was âa software dev working at R&D at Tesla in California,â reportedly added that the Elon Musk-led company had bought 24,701 bitcoin at an average price of $33,142 ⦠Bitcoin is a distributed, worldwide, decentralized digital money. But Bitcoin's value rapidly moves up and down - meaning the cryptocurrency price of the car could change day to day. Tesla (TSLA) founder Elon Musk has sent the price of bitcoin (BTC-USD) soaring after the billionaire tagged the cryptocurrency in his Twitter (TWTR) bio on Friday. Bitcoin is a distributed, worldwide, decentralized digital money. If you decide to buy ⦠I love this thought - the FBI selling $Bn BTC to one of few companies who can afford it headed by one of the few CEOs to understand it! I wish my bank did something productive instead of just using my money to feed vampires and sink the economy. IIRC the profit per car isn't much, most of that goes back to the manufacturer and dealerships make their money on the interest and Used car markets. 2.9m members in the Bitcoin community. It is now April 2021 at a price of $53,500. It looks like Tesla sold just enough bitcoin ($272 million for a $101 million profit) to give them $1 Billion in adjusted earnings. Tesla had not publicly announced the purchase of $1.5 billion bitcoin before it revealed it in an official filing this week. sorry if this was answered yesterday, I did a search and could not find a suitable answer. It continued by saying (via Reuters), âI am a software dev working at R&D at Tesla in California, over the past 72 hours our company bought 24701 BTC at an average price of 33142$. At current prices, 0.8 bitcoins would be enough to buy an entry-level Tesla Model 3. Actually, the author here chose to neglect: One-time charge for Elonâs compensation, One time charge for S and X line overhaul (gigapress incorporation, etc), Persistent supply chain issues from Covid. Bitcoin has broken another price record, jumping nearly 15% on the news that Tesla has invested $1.5 billion in ⦠Matt Levine had a great money stuff newsletter on this topic today. Energy/batteries has always been the ultimate play. How would Tesla have contacted sellers? A community dedicated to Bitcoin, the currency of the Internet. As to where, good question, interested to know too. How we know there are many OTC (over the counter, or bilateral) trades both of BTC and many non cyrpto assets, but often these are between known parties, eg between pension funds. Tesla has never been a car company. For instance, if you bought one bitcoin back in July 2020, when the price was about $10,000, what once could buy a used Hyundai Elantra could now get you a ⦠Lot of vampire-feeding going round here on Earth. âI am a software dev working at R&D at Tesla in California, over the past 72 hours our company bought 24701 BTC at an average price of 33142$,â the ⦠What is more, sales of regulatory credits to other auto makers to help them meet emissions mandates, which carry a 100% profit margin, reached $518 million. Tesla didnât exactly earn its record profit from selling cars, however. Cars are vehicles (no pun intended) for selling battery technology to consumers. Learn more about Redditâs use of cookies. ⦠Tesla would eventually just win because of this direct to consumer model even without the electric phenomenon imo, they got a huge advantage since other car manufacturers have to follow actual laws related to this similar to how taxis are fucked due to Uber and Lyft avoiding the laws. âI am a software dev working at R&D at Tesla in California, over the past 72 hours our company bought 24701 BTC at an average price of 33142$,â the ⦠Price Action: Tesla shares closed nearly 1.6% lower at $849.46 on Tuesday and fell 0.47% in the after-hours session. Those two helping hands helped avert red ink. An anonymous Reddit user, who made a post claiming the multibillionaireâs electric car manufacturer Tesla would buy $800 mn in Bitcoin before the automotive giant announced it had actually acquired $1.5 bn in the cryptocurrency, has admitted that his post was a hoax. The difference/advantage Tesla has is they don't have a dealership model so they can keep those profits that would normally go to the middle man. Business Bitcoin hits new record after $1.5 billion Tesla buy-in. The correct term for the banks are PARASITES. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. See full story. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Highly recommend it! It's a technology company that is primarily in the business of selling energy credits and batteries, and now trading in bitcoin and other financial instruments. Tesla wants to own the last-mile electric grid. We know Coinbase help MicroStrategy find some, but Tesla bought quite a bit, so they just have found other routes to these people. "Soon, Tesla will become a financial company that sells cars as a side-hustle (which is basically what happened to VW). Iâve heard of America auctioning off seized conis? The moon is 238,825 miles, or 1,261,000,000 feet away from the Earth. Tesla's $1.5 billion investment in bitcoin could also be a simple hedge against the hegemony of the U.S. dollar as the world's reserve currency since World War Two. Given the volume of coins being bought (>$1Bn) and the low proportion of BTC on exchanges (<20%), where did Tesla get their Bitcoin? https://www.coindesk.com/microstrategy-used-coinbase-for-massive-bitcoin-purchase. A community dedicated to Bitcoin, the currency of the Internet. Looks like you're using new Reddit on an old browser. That accounts for nearly 100% of Teslaâs $533 million in pretax income. Tesla could have used the same strategy that Saylor is so fond of sharing in his playbook. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. The company said that it sold some of the $1.5 billion worth of bitcoin that it purchased in February, contributing $101 million to the bottom line. Looks like you're using new Reddit on an old browser. The digital asset is now worth over $43,000 following Teslaâs disclosure that it invested $1.5 billion in Bitcoin. Can we make calling politicians vampires a thing thatâd be great. Does this mean they earn nearly nothing on the cars they produce and their income is entirely generated through selling regulatory credits and a batch of bitcoins? Instructions unclear, put nickels in my oil intake. âI am a software dev working at R&D at Tesla in California, over the past 72 hours our company bought 24701 BTC at an average price of 33142$,â a user with the handle TSLAinsider posted in ⦠The big question observers may have is why is the Elon Musk-run company purchasing bitcoins. It hit an all-time high after Tesla's official announcement Monday. Perhaps he could of bought a deal? So Tesla bought in at 38,5k minimum if they made 67%? Good for them. (Reuters) - A Reddit user claiming to be a Tesla (NASDAQ: TSLA) insider appeared to announce the carmaker's purchase of bitcoin a month ago, according to ⦠And how much of their remaining profit was due to that US regulation forcing the other auto manufacturers to give them money? A Reddit user claiming to be a Tesla insider appeared to announce the carmaker's purchase of bitcoin a month ago, according to a January post on ⦠Bitcoin is a distributed, worldwide, decentralized digital money. Reddit user who appeared to tip Tesla's Bitcoin buy reveals himself as a German prankster on ... over the past 72 hours our company bought 24701 BTC at an average price of 33142$,â the user with the handle TSLAinsider posted on Reddit last month. Can someone explain this like I'm 5? This is coming later this year with Berlin and Texas factories. By Monday afternoon, the price of a bitcoin had tumbled over $5,000 to $52,295, reducing Tesla's unrealized gains on its cryptocurrency investment to under $900 million. ", Car dealerships in general have long been based on a bank business model. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. Soon, Tesla will become a financial company that sells cars as a side-hustle (which is basically what happened to VW). QUESTION Where did Tesla buy their Bitcoin? Tesla only sold 10% of its Bitcoin to boost its end-of Q2 2021 profit numbers. DCA doesnât really matter when a couple tweets you send skyrockets the price (in Elonâs case). I'm sure you're right; my question is how did they find them? Why is that? They're like a bank, but unlike a bank, they also produce a valuable product. Given the volume of coins being bought (>$1Bn) and the low proportion of BTC on exchanges (<20%), where did Tesla get their Bitcoin? Who and how? Obviously they didn't use an app or website but in conjunction with CB. That's still a tidy return. Is it worrying that we don't seem to know where such a large quantity was actually bought? Press question mark to learn the rest of the keyboard shortcuts. Supply chain issues included a shortage of automotive CPUs that have completely shut down other auto mfgs. (Reuters) - A Reddit user claiming to be a Tesla insider appeared to announce the carmaker's purchase of bitcoin a month ago, according to a ⦠The company made the disclosures in a section of its quarterly securities filing that also detailed its purchase of US$1.5 billion worth of bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. I'd imagine considering the amount they would have been accumulating and dollar cost averaging? Teslaâs record-breaking bitcoin purchase stunned the markets earlier this week, causing the price of bitcoin to spike to a new high of over $48,000 per coin. A community dedicated to Bitcoin, the currency of the Internet. You sound like you hate capitalism? TSLA already has the margins necessary to be profitable. Itâs not clear if itâs a permanent or temporary move.
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