Re:Tesla spent $1.5B in clean car credits on Bitcoin
by whycombagator on Monday February 08, 2021 @07:38PM
(#26072390)
> What this tells me is that Tesla has too much cash and doesn't think investing that cash in its main business would produce gains comparable to BTC
In the short term how could it?
Also, isn't a $1.5 billion investment by a big named company (Tesla & Musk of all companies/people) a self-fulfilling prophecy, in that it will assuredly pump BTC prices? A $1.5 billion punt on anything, especially BTC & considering the stock growth/capital raising recently, doesn't seem that wild to me.
In the short term how could it?
Also, isn't a $1.5 billion investment by a big named company (Tesla & Musk of all companies/people) a self-fulfilling prophecy, in that it will assuredly pump BTC prices? A $1.5 billion punt on anything, especially BTC & considering the stock growth/capital raising recently, doesn't seem that wild to me.