Critics Claim Tesla Should Sell Bitcoin Position, Electric Vehicle Firm’s Sha...
Ever since Tesla announced the company held $1.5 billion in bitcoin on its balance sheet during the first week of February, the company’s stocks have dropped over 30%. One analyst says that Tesla’s shareholders would be “very supportive” if the company announced it would sell the bitcoin. Additionally, the shares of Microstrategy’s firm have also dropped considerably during the last 30 days, after multiple bitcoin treasury purchase announcements. Critics Say Tesla Should Sell Bitcoin After Tesla announced to the world that there was $1.5 billion worth of....
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In 2010 the first Bitcoin purchase was made for two pizzas from Papa Johns. By 2011, it was possible to purchase Alpaca socks, and in 2012 VPN access. Today, I preordered a Tesla Model 3 for 2.413612 BTC. When I first read about Tesla Motors, it was in regards to the release of the Tesla Roadster in 2007 on Slate. I remember reading the statistics of the vehicle thinking, how is it possible for an electric vehicle to possibly have a 0–60 time that rivals that of the latest model Ferrari. The reality of such acceleration for an electric vehicle seemed illogical at the time. I was left....
The vehicle manufacturer's latest earnings report for the third quarter shows it's made no changes to its Bitcoin holdings since its huge sell-off in the second quarter. Electric vehicle manufacturer Tesla has made no further changes to its remaining stash of Bitcoin (BTC) in the third quarter of 2022, despite nearly a $1 billion sell-off in the previous quarter. The company’s Q3 report released Oct. 19 shows $218 million worth of “digital assets” remains on its balance sheet, with no reported losses in the value of its holdings. Based on current prices, it’s estimated that Tesla still....
Tesla's foray into Bitcoin may have been one big distraction for the electric vehicle maker, which reported mixed financial results earlier this month. Elon Musk’s Tesla proved to be the ultimate paper hands after the electric vehicle maker sold 75% of its Bitcoin (BTC) holdings in the second quarter. I say, good riddance. The cult of personality isn’t good for Bitcoin, and neither is a technologist who treats the asset as his plaything. As far as we are aware, Musk hasn’t sold any of his personal Bitcoin stash and Tesla still has an estimated 10,800 BTC on its books. Still, the less we....
Tesla’s latest earnings report showed that the firm conducted no digital asset purchases or sales in Q2, but reported an impairment loss of $23 million on its BTC holdings. Electric vehicle and clean energy firm, Tesla, has reported $1.14 billion in net income for the second quarter. The firm’s July 26 earnings report showed that total revenue grew by 98% year on year (YOY) for Q2, increasing from $6 billion in 2020 to $11.9 billion this year. Tesla attributed the bulk of its growth to a surge in demand for its electric vehicles, stating:“In the second quarter of 2021, we broke new and....
With recent news that a customer purchased a Tesla electric vehicle from Lamborghini Newport Beach, some have raised the question: why doesn't Tesla sell their vehicles to customers directly with bitcoin? It's an interesting question, so we set out to get in touch with the company regarding the matter. Unfortunately, we didn't receive much. They were quick to get back in touch, but the company says that: "Tesla does not have an official stance at this point", and "No comment from us." It's understandable. Very few companies in the automotive business are accepting anything but U. S.....