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Ridam

TESLA Booked Profit from BTC

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I think we all are about the the moment when Tesla announced that they had bought btc worth 1.5BILLIONS. And according to the commitment shown by the Elon Musk at that time, Noone had thought they would start profit booking from this early. 

Recently Tesla released it's Q1  Report and there we can clearly see that the Tesla sold 272 Millions worth of BTC from the btc that they had bought back at total cost of 1.5 Billions.

It is good strategy for a company as by selling only 10% Of their btc, they are able to return around 18% of their invested amount. We can see they are booking huge profit and I am sure in the coming time after another hit of bitcoin they would book more and more profit. In the picture below which is the Tesla Q1 Report, you can see about this action. Be sure to look in circle. If you like to watch from visiting the link, you should jump to page number 26 and look in line 15. NOTE EVERY NUMBER IS IN MILLIONS IN THE SHEET.

1372829083_teslapic.thumb.PNG.48d69d0e4c54cea4874e4d7aa9046351.PNG

                      source-https://tesla-cdn.thron.com/static/R3GJMT_TSLA_Q1_2021_Update_5KJWZA.pdf?xseo=&response-content-disposition=inline%3Bfilename%3D"TSLA-Q1-2021-Update.pdf"

Good Perspective of this:

This would inspire other company to invest in the Bitcoin because the profit they are getting through investment in the btc will attract other companies too. And as the BTC is becoming a best store of value we can say that there would be increase in demand because of involvement of other companies into adding BTC in their balance sheet.

Bad Perspective:

This type of profit booking would cause the small shake off in the market. I am sure the last dip of Bitcoin is because of the action from tesla. And if company start profit booking then the retail investors will follow the same as fomo already started.

Elon Musk Answer to this :

In a tweet Elon Replied that for showing the liquid nature of btc tesla had sold and Elon isn't selling any of his btc holdings. But selling 10% of Btc holding for proving the liquid Btc seems a unacceptable reason at least for me. You can look into his tweet below.

https://twitter.com/elonmusk/status/1386821144037236737?s=20

 

So what do you think about this move of TESLA.INC? Is this only to show Btc is liquid or Companies are looking for profit booking and slowly selling their Btc holdings?

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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Hello Friend !

Yes, Elon Musk is a great man with a lot of thoughts and ideas in his head. He proved to everyone that he can ... now he wants to colonize Mars, I sincerely hope that he will succeed. He thought that his project, TESLA, would not be successful. He didn't even count on him. But look at what heights his company has achieved. Many people / companies envy him. He was one of the richest people on the planet. But recently he lost about $ 10 billion. he says "never stop, stand your ground and never give up." Thanks for attention !

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16 hours ago, Elias99 said:

They are posting this to try to make the Bitcoin market bearish again, 

I don't think so, if they wanted to make bitcoin bearish they would have done so before publishing their quraterly report. The answer of Elon Musk was only to prove to the audience that he is btc holder. Also he doesn't want to make the market panic because of this because the Tesla would go down along with btc as we have seen in last few corrections.

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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On 4/28/2021 at 8:27 AM, Ridam said:

I don't think so, if they wanted to make bitcoin bearish they would have done so before publishing their quraterly report. The answer of Elon Musk was only to prove to the audience that he is btc holder. Also he doesn't want to make the market panic because of this because the Tesla would go down along with btc as we have seen in last few corrections.

I read that it was a sale to test liquidity and maybe it was this because when buying you find sellers, but there is also need to find buyers when selling. But we know that sometimes the market has less liquidity of real buyers, this is where the exchanges buy and support price. And there is 50 billion usdt in stable coins too that also used to make liquidity higher. I do not know if the sale was for this reason, but I see Musk was a little concerned to tweet instantly about that event and to take a defensive position. 

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On 4/27/2021 at 4:09 PM, Ridam said:

Bad Perspective:

This type of profit booking would cause the small shake off in the market. I am sure the last dip of Bitcoin is because of the action from tesla. And if company start profit booking then the retail investors will follow the same as fomo already started.

This is the core reason, I am not altering my BTC holdings from hardware wallet. I monitor the market momentums very seriously because BTC price might also affect the  price of altcoins which I have currently held to play in the markets. This is the problem, bigger institutions can also shake the markets by booking the profits for their behalf and Elon Musk is already clever enough to so.

There is the possibilities, Tesla might re-sell some portion of Bitcoin once Bitcoin price sharply approaches toward $65K mark. 

 

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We must all imitate the way elon musk does business, both with tesla and with his cryptocurrencies, because it is clearly noticeable that he has very good profits, we can do the same, reserve our bitcoin profit, and we can invest it in the future.

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But Elon Musk denied that he sold 10% of Bitcoin through a tweet on Twitter, the sure thing is that Elon Musk, the owner of Tesla, is a person fond of cryptocurrencies, and we have seen his great interest in cryptocurrencies by posting tweets in his official account on Twitter to add excitement to the investment market.

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14 hours ago, Whited35 said:

There is the possibilities, Tesla might re-sell some portion of Bitcoin once Bitcoin price sharply approaches toward $65K mark.

Exactly, I am also thinking the same. And we know about it only after three months of selling it because the only way to know about is looking at the quarterly report and we have to wait three months for this. So, they may take benefit of this and start booking their profit at 65k or 70k level and we know Elon Musk would made another reason for the sell like he did last time. Now, retail people have to strictly monitor the activities of big institution to sustain in this journey.

20 hours ago, Mella said:

I read that it was a sale to test liquidity and maybe it was this because when buying you find sellers, 

The 24 hour volume of btc is above 50Billions. So the reason of checking the liquidity seems illogical. And as I aforementioned that if a company sold 10% of their holdings, yes they have started booking profit because these are institution and they have the strategy of booking the profit and risk management. And from the result  I have seen that the company has already returned 18% of their fund by selling just 10% of holding. It means they have sold that portion at 80% profit so yes they are booking the profit and trying to create less panic in the market as we know they still have the big bag to sell further.

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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1 hour ago, Ridam said:

Exactly, I am also thinking the same. And we know about it only after three months of selling it because the only way to know about is looking at the quarterly report and we have to wait three months for this.

Some whale tracking agencies may have the BTC addresses of Tesla in which huge amounts of Bitcoins are stored. Maybe they are using the different addresses to store the Bitcoins. It would be even easier to track them if we have a clue of the addresses while tracking them in the blockchain. 

I started to take care the news too because anytime these bigger institutions can play a role to affect the prices. 

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7 hours ago, Whited35 said:

Some whale tracking agencies may have the BTC addresses of Tesla in which huge amounts of Bitcoins are stored. Maybe they are using the different addresses to store the Bitcoins. It would be even easier to track them if we have a clue of the addresses while tracking them in the blockchain. 

I started to take care the news too because anytime these bigger institutions can play a role to affect the prices. 

If you get clue of the address be sure to share with me too. If we get that then sure it would be easy for us and we can be awarw about the next correction earlier and be safe from exiting before it hit our SL. I am also doing my research about their wallets,if  I get any hit I will share in the forum.


NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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On 4/27/2021 at 6:24 PM, Ridam said:

Recently Tesla released it's Q1  Report and there we can clearly see that the Tesla sold 272 Millions worth of BTC from the btc that they had bought back at total cost of 1.5 Billions.

It's Tesla's BTC, so the company can do anything they want with it (that includes selling). But knowing that Bitcoin prices can only go up later on, I think the company is sensible enough not to sell out all their holdings especially at this time. So I think we are safe to assume that Tesla will not panic sell. If anything, Tesla can be waiting for the moment when the BTC market crash so they can buy more BTC.

 

Let's also not forget that Tesla can now accept payment on their cars with Bitcoin. It would make sense if they sell the BTC they got from the purchase of their cars at a later date to cover the cars' production, transport, marketing cost etc. instead of letting the BTC payment sit in the corner when they need that money immediately to continue the production of more cars.

 

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New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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On 5/4/2021 at 9:22 AM, kyoukage01 said:

It's Tesla's BTC, so the company can do anything they want with it (that includes selling). But knowing that Bitcoin prices can only go up later on, I think the company is sensible enough not to sell out all their holdings especially at this time.

Well that is true and we can't raise any question for that but if we see the statement of the Elon Musk regarding the sell of btc, his reasons clearly seems vague. Also, the crypto bull run this time is being driven by many factors and Elon and Tesla are part of them, their move will definitely create panic in the market and as they are company investing for the profit we should be aware about their move is the reason for creating this thread. We have to be clear that we may see such profit booking from tesla at different levels of the bull market.

On 5/4/2021 at 9:22 AM, kyoukage01 said:

Let's also not forget that Tesla can now accept payment on their cars with Bitcoin. It would make sense if they sell the BTC they got from the purchase of their cars at a later date to cover the cars' production, transport, marketing cost etc. instead of letting the BTC payment sit in the corner when they need that money immediately to continue the production of more cars.

Currently, tesla ain't accepting the BTC payment and we may see a bit longer for it to happen. If it may start sooner, technoking may have already started talking about in his tweets, and he hasn't done that means we may see a delay in tesla accepting the bitcoin. 

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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On 5/11/2021 at 1:06 PM, Ridam said:

Currently, tesla ain't accepting the BTC payment and we may see a bit longer for it to happen. If it may start sooner, technoking may have already started talking about in his tweets, and he hasn't done that means we may see a delay in tesla accepting the bitcoin. 

This news came in just a few hours ago.

https://www.theverge.com/2021/5/12/22433153/tesla-suspend-bitcoin-vehicle-purchase-cryptocurrency-elon-musk

 

Citing environmental reasons, Tesla will not be accepting Bitcoin for payments for now. Possibilities are still open for cryptocurrencies that are more environmentally-friendly. Dogecoin, perhaps? 😁 There's already another news that Musk's SpaceX is going to be funded with Dogecoin anyway.

 

It was also mentioned that the company will no longer sell the rest of the $1.5B Bitcoin it bought. Maybe the next time Tesla moves the crypto market, it will be via altcoins instead. Probably when they buy another stock of more environmentally-friendly ones.

 

Edited by kyoukage01

 

New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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On 4/27/2021 at 3:24 PM, Ridam said:

I think we all are about the the moment when Tesla announced that they had bought btc worth 1.5BILLIONS. And according to the commitment shown by the Elon Musk at that time, Noone had thought they would start profit booking from this early. 

Recently Tesla released it's Q1  Report and there we can clearly see that the Tesla sold 272 Millions worth of BTC from the btc that they had bought back at total cost of 1.5 Billions.

It is good strategy for a company as by selling only 10% Of their btc, they are able to return around 18% of their invested amount. We can see they are booking huge profit and I am sure in the coming time after another hit of bitcoin they would book more and more profit. In the picture below which is the Tesla Q1 Report, you can see about this action. Be sure to look in circle. If you like to watch from visiting the link, you should jump to page number 26 and look in line 15. NOTE EVERY NUMBER IS IN MILLIONS IN THE SHEET.

1372829083_teslapic.thumb.PNG.48d69d0e4c54cea4874e4d7aa9046351.PNG

                      source-https://tesla-cdn.thron.com/static/R3GJMT_TSLA_Q1_2021_Update_5KJWZA.pdf?xseo=&response-content-disposition=inline%3Bfilename%3D"TSLA-Q1-2021-Update.pdf"

Good Perspective of this:

This would inspire other company to invest in the Bitcoin because the profit they are getting through investment in the btc will attract other companies too. And as the BTC is becoming a best store of value we can say that there would be increase in demand because of involvement of other companies into adding BTC in their balance sheet.

Bad Perspective:

This type of profit booking would cause the small shake off in the market. I am sure the last dip of Bitcoin is because of the action from tesla. And if company start profit booking then the retail investors will follow the same as fomo already started.

Elon Musk Answer to this :

In a tweet Elon Replied that for showing the liquid nature of btc tesla had sold and Elon isn't selling any of his btc holdings. But selling 10% of Btc holding for proving the liquid Btc seems a unacceptable reason at least for me. You can look into his tweet below.

https://twitter.com/elonmusk/status/1386821144037236737?s=20

 

So what do you think about this move of TESLA.INC? Is this only to show Btc is liquid or Companies are looking for profit booking and slowly selling their Btc holdings?

yes agreed with your point of view.

It seems like as same as the condition of China.

When she holds much of the gold and price of the gold getting more and more.

But, when he sold her gold into the market the price of the gold goes down and she earned more in that respect.

These are the strategies used for Profiting more.

But, it can only be happened if you have some sort or extra kind of money.

Because Money Attracts Money.

So, Be in the right track.

I wish One day you will be profiter more and more.

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