Reddit Post Reporting Tesla’s Bitcoin Purchase From a Month Ago Was a Hoax
A Reddit post that predicted Tesla’s $1.5 billion purchase of bitcoin on Monday has been revealed as a hoax, after the New York Post tracked down the user. Reddit User Says He Was High on Acid When Writing It Tesla’s 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. Predicting a purchase of this size would require amazing foresight or insider knowledge, something which Reddit users were keen to figure out following a now-removed post from Jan. 2 by a user known only as....
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Earlier today, Reddit posted to its blog and announced the "Reddit notes," the name of the long-awaited Reddit cryptocurrency. Reddit recently closed a $50 million USD funding round led by Sam Altman, Marc Andreessen of Andreessen Horowitz, and Alfred Lin of Sequoia Capital. Soon thereafter, Reddit announced their plans to "share" 10% of the equity raised with the loyal users of Reddit, without whom the funds could not have been raised. To help with their new cryptocurrency, Reddit posted a job ad for a "cryptocurrency engineer" and quickly hired BitPay developer Ryan Charles back in....
Reddit is introducing its own cryptocurrency. Known simply as "Reddit Notes," the company hired BitPay developer Ryan Charles back in September of this year to serve as Reddit's new "cryptocurrency engineer" and assist in the currency's integration. While Reddit Notes will not be available to users for some time, the social networking service is holding a special lottery in celebration of the digital currency's birth, saying that it will give away a hefty amount to various loyal site users. The company announced in a blog post last month: "To celebrate all of you and your contributions, we....
Breaking down Tesla’s Bitcoin purchase reveals the emergence of a new corporate whale. Tesla (TSLA) sent shockwaves across the financial markets Monday after a United States Securities and Exchange Commission filing confirmed that the electric vehicle maker has added Bitcoin (BTC) to its balance sheet.Tesla’s latest Form 10-K filing for the fiscal year ended Dec. 31, 2020 shows a $1.5 billion allocation to Bitcoin. As Bitwise researcher David Lawant points out, Tesla’s BItcoin exposure represents roughly 7.7% of its gross cash position. According to the most recent 10K filing, @Tesla had....
Collecting the best quality Bitcoin content that was uploaded to Reddit this month, it's clear that October picked up in bullishness where September left off. The post Bitcoin Reddit Roundup October 2020 appeared first on Bitcoin Magazine.