"As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency."
Tesla didn't HODL. Or deploy as liquidity on Lightning to earn yield.
Some just have to learn the hard way 🤷‍♂️
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it’s not a great headline that tesla sold their bitcoin, but a mainstream media fud cycle could extend the opportunity for buyers to pick up cheap coins.
everyone buys (and sells) at the price they deserve.
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ain't that the truth on all three fronts.
was reading Alyse Killeen's thread that what Bitcoin they did sell was at profit, however. so good for them!
not sure that was inflation-adjusted profit, but we will never know because it's next to impossible to calculate the inflation rate at the moment.
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This significantly lowers my confidence in Tesla
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they needed to show positive cashflow in Q2.
so they liquidated close to $1b in Bitcoin.
I'm with you on that statement.
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Elon says it's a liquidity issue with the Shanghai factory shut down and they may buy more in the future.
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There's a reason for the selling: To avoid reporting a negative cash flow. Here's a more detailed explanation: https://twitter.com/realmeetkevin/status/1549850031783559176
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Yes, but they are selling it at ⅓ of the peak price. Does the value of positive cash flow reporting justify this loss?
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catastrophic macro environment + one of the largest whales dumping and we're STILL above $20k. Bullish
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Their digital asset holdings were valued at $1.26B in Q1, and are now valued at $218M in Q2.
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This is kind of the crypto cantillon effect in reverse. Because now TSLA holds a smaler portion of the total supply. This is something the market might like going forward. I also think MSTR should reduce their holdings. All you need is 1 BTC, there is only 21 million. And not even due to lost keys and so on. And imagine if every company with a website started stacking 1 BTC, its something most companies can do. Very little risk vs the potential upside imo.
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слабая компания... и нуждается в деньгах.... биткоин показывает кто будет падать первым... ахааа
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Only Saylor left 💎🙌
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GAAP accounting strikes again
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elites' trojan horse
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They should sell it all, I don't care about Telsa, people who simp for Elon and his subsidised shitcoin company annoy me. Pick up those coins kids, don't let this dude have an outsized stash of bitcoin
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Incredible! More for us :)
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Woah...that's news 🤯
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Hope Elon is not in trouble