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Tesla buys $1.5 billion in bitcoin: as Elon Musk jumps on board with cryptocurrency

 
Anonymous Coward
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02/08/2021 10:26 AM
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Tesla buys $1.5 billion in bitcoin: as Elon Musk jumps on board with cryptocurrency
Well..

Tesla invested $1.5 billion in bitcoin in January in a nontraditional move to diversify its investments.

The investment, which the electric vehicle maker disclosed Monday in a public filing, comes as CEO Elon Musk has been promoting an alternative cryptocurrency in recent weeks.

Tesla said in its annual report that the company made the move as part of a policy change designed "to provide us with more flexibility to further diversify and maximize returns on our cash."

It is not typical for major corporations to acquire digital currency due to questions about its dependability and concerns about its volatility.

The new policy authorized by the Tesla board allows the company to invest in various forms of digital assets.

It was not immediately clear how much the company's bitcoin is worth today. The cryptocurrency traded in the range of about $30,000 to $40,000 in January. It was trading around $41,600 on Monday morning.


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Anonymous Coward
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02/08/2021 10:28 AM
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Re: Tesla buys $1.5 billion in bitcoin: as Elon Musk jumps on board with cryptocurrency
There's already a pinned thread about it.

DOrolleyes
Anonymous Coward
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02/08/2021 10:30 AM
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Re: Tesla buys $1.5 billion in bitcoin: as Elon Musk jumps on board with cryptocurrency
bItCoIn iS wOrThLeSs.


tards
Anonymous Coward (OP)
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02/08/2021 10:31 AM
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Re: Tesla buys $1.5 billion in bitcoin: as Elon Musk jumps on board with cryptocurrency
bItCoIn iS wOrThLeSs.


tards
 Quoting: Anonymous Coward 79173326


You can exchange BTC for $ and then pay the bills
Anonymous Coward
User ID: 76929079
United Kingdom
02/08/2021 10:32 AM
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Re: Tesla buys $1.5 billion in bitcoin: as Elon Musk jumps on board with cryptocurrency

If the richest man in the world needs to pimp shitcoins (BTC, DOGE), you know it's all a scam.

This is a ploy to get people to exchange their XRP (which will be all the money) for BTC/DOGE/et al.

Digital currency is the future..but only a select few will be usable depending on the blockchain.

Relying on bitcoin would be akin to relying on a 90 year old man to win the Boston marathon.
 Quoting: Anonymous Coward 76929079


exactly, shows you what kind of scam this is, they're trying to lure the people in the market, take their cash and then GTFO, it's all a larp

only those who have entered bitcoin weeks, months ago are ripping profits nowadays, with selling and buying the dips again, while the ordinary plebs, what, do you expect someone to enter now at 40K and expect some massive returns?

sure thing, you're all going to get burned

boss

Elon Musks invest 1,5 billion dollars into BITCOIN while

Tesla Hasn’t Made A Profit in 15 Years – And It’s Not Alone

What’s more, Musk stated that the company isn’t planning to break even any time soon.
Anonymous Coward
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United Kingdom
02/08/2021 10:33 AM
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Re: Tesla buys $1.5 billion in bitcoin: as Elon Musk jumps on board with cryptocurrency
There's already a pinned thread about it.

:DOrolleyes
 Quoting: Anonymous Coward 78349802


it's a topic about BITCOIN in general but not his concrete move, investment FFS
Anonymous Coward
User ID: 79580316
United Kingdom
02/08/2021 10:35 AM
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Re: Tesla buys $1.5 billion in bitcoin: as Elon Musk jumps on board with cryptocurrency

If the richest man in the world needs to pimp shitcoins (BTC, DOGE), you know it's all a scam.

This is a ploy to get people to exchange their XRP (which will be all the money) for BTC/DOGE/et al.

Digital currency is the future..but only a select few will be usable depending on the blockchain.

Relying on bitcoin would be akin to relying on a 90 year old man to win the Boston marathon.
 Quoting: Anonymous Coward 76929079


exactly, shows you what kind of scam this is, they're trying to lure the people in the market, take their cash and then GTFO, it's all a larp

only those who have entered bitcoin weeks, months ago are ripping profits nowadays, with selling and buying the dips again, while the ordinary plebs, what, do you expect someone to enter now at 40K and expect some massive returns?

sure thing, you're all going to get burned

boss

Elon Musks invest 1,5 billion dollars into BITCOIN while

Tesla Hasn’t Made A Profit in 15 Years – And It’s Not Alone

What’s more, Musk stated that the company isn’t planning to break even any time soon.
 Quoting: Anonymous Coward 76929079


Retail investors are of secondary importance, now.

Retail drove the first price spike, in 2017, but has taken a back seat to the corporations and financial institutions.

The Serious Money wants IN, but good, and will send BTC to $400K, and beyond.

drevil





GLP