Tesla continue to hodl its bitcoin assets

Flow-er

Active member
Tesla continue to hold bitcoin despite the mixed feelings that the company has sold it bitcoin asset during the China crackdown. Elon musk made a statement last year that his company Tesla will no longer support the acceptance of bitcoin as one of the payment option. This was a result of the total crackdown on crypto mining in China. At that time Elon musk stressed that the bitcoin mining procedure is not confirming with the environmental safety procedures. He explained that the company will continue to use bitcoin when it has adopted and environmental friendly energy for its mining process.

I'm very surprised that Tesla did not reverse its decision despite the fact that bitcoin mining now uses the environmental-friendly energy sources. I am thrilled when I saw the balance sheet of Tesla and and it was written in the statement the crypto assets that Tesla has.

Tesla has 1.26 billion dollar worth of bitcoin in its balance sheet. Sometimes last year and almost issued a statement that he is not selling is bitcoin assets and it has clearly shown that he did not sell the bitcoin assets. If Elon musk decided to accept bitcoin back into Tesla's payment option, there is every possibility that bitcoin will reach a new all-time high
 

Lens1000

VIP Contributor
Tesla has never for once sold the bitcoin that it has but we believed that when Elon Musk issued a statement on the adoption of the green energy in the mining process. the thought that he has made a statement to withdraw bitcoin as payment option of the purchase of the luxurious and expensive cars of Tesla and also withdrew the Holdings of tesla's in Bitcoin but it is very surprising that we found Bitcoin in the balance sheet of the crypto assets and we could see that the company still hold a substantial amount of Bitcoin in it wallet and this would actually contribute a good improvement to the Bitcoin market capitalisation. You could imagine the amount of drop that you would have seen in cryptocurrency price most especially the price of the Bitcoin if Tesla withdrew its cryptocurrency Holdings. Although the statement that was made by Elon Musk sometimes last year was not fulfilled because he made mention that Tesla will resume receiving bitcoin as a means of payment of the electric cars once it has used a green energy uses for mining process has been dropped.
But I never followed his statements and tesla has not resumed accepting bitcoin again.
 

minenovo

Active member
I would be surprised if they sell them anytime soon. For all their talk about Doge, they are far more interested in Bitcoin.
 

Bings Stars

New member
Crypto investment has been a real hassle for me, after a failed investment during the pandemic, I decided to take the back seat and focus on increasing my knowledge about bitcoin and the crypto investments.
After consulting with marketplus247 . com, I got investment networking I could leverage on and my patience and knowledge has paid off greatly.
 

markwood

New member
Crypto investment has been a real hassle for me, after a failed investment during the pandemic, I decided to take the back seat and focus on increasing my knowledge about bitcoin and crypto investments.
 

minenovo

Active member
That's the best solution when things don't work out, I think. Pause what you are doing and focus on learning more about it.
 

Hooligan

New member
Tesla brought a revolution in the legal payment system when it first announced bitcoin would be accepted as a form of payment. Last year, Tesla had around $2 billion BTC reserves, and in the same year, Elon Musk said that the main motive of Tesla to hold Bitcoins is to improve the liquidity of Bitcoins in the market as well as improve its flow in the balance sheets. Tesla was said to face a loss of $101 million. However, after selling a portion of its BTC holdings, Tesla regained profits of $128 million, thereby making a total profit of $27 million.

In the present date, the value of bitcoin has fallen from above $40k to around $30k now. It will be interesting to see the decisions taken by the company if the value of BTC does not rise in the coming days.
 

captainKazoo

New member
Tesla's decision to hold its cryptocurrency assets ahead of inflation indicates that the company is about to join those who see digital currency as a viable inflation hedge.

A new trend could be on the horizon, in which more companies begin to invest in cryptocurrencies to protect their assets from inflation. This is great news for investors.
 

Melanie Terrell

New member
The reason why Tesla is still holding on to its bitcoin assets is because the crypto and finance experts in the company are expecting the price of bitcoin to first become stable and then grow again. Bitcoins help the company to maintain their balance sheets with cash and digital assets. They can sell bitcoins in the near future as well. Such risky movements are commonly seen to be taken by big companies, who form much advanced strategies.
 

mathawmio

New member
M*sk is a man of many tricks. He changed market sentiment in just a few tweets. And the damage belongs to users who cannot withstand the shock inflicted by influencers.
 

Lens1000

VIP Contributor
It will be a colossal loss if Tesla continue to hold bitcoin assets and that will amount to a colossal loss because bitcoin has gone down so much and it has declined in such a manner that is unbelievable and I think initially that Tesla has sold off their Bitcoin assets at a point. I am not concurring with the statement that Tesla still hold it bitcoin asset because it has kicked against it and I don't think it will continue to accept it, which means that they must have sold of the Bitcoin for a very long time .
 

ImamShaheb

Verified member
It will be a colossal loss if Tesla continue to hold bitcoin assets and that will amount to a colossal loss because bitcoin has gone down so much and it has declined in such a manner that is unbelievable and I think initially that Tesla has sold off their Bitcoin assets at a point. I am not concurring with the statement that Tesla still hold it bitcoin asset because it has kicked against it and I don't think it will continue to accept it, which means that they must have sold of the Bitcoin for a very long time .
Now we've a different opinion! Because the king is back at the business ~ IMG_20231101_213009.jpg
 
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