329 sats \ 4 replies \ @holzapfelbaum 20 Jul 2022 \ on: Tesla Sells 75% of Bitcoin Holdings bitcoin
"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 🤷♂️
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.
reply
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.
reply
This significantly lowers my confidence in Tesla
reply
they needed to show positive cashflow in Q2.
so they liquidated close to $1b in Bitcoin.
I'm with you on that statement.
reply