Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by didibus on Tuesday February 16, 2021 @11:03PM (#26162528)

The challenge for Tesla and Elon is that I don't see the exit strategy? If Elon sells off his Tesla shares in any sizable quantity, it seems the stock would drop massively. If Elon steps down his involvement or passed away, same thing. So it seems it needs to keep on the show until Tesla can actually sustain its value somehow through normal business operations.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by imtringued on Wednesday February 17, 2021 @04:12AM (#26164337)

Knowing Elon he probably already planned on a way to exit the stock in a way that lets him reenter at the correct market valuation.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by zaptheimpaler on Wednesday February 17, 2021 @12:23AM (#26163027)

Execs in any public company routinely sell shares at a pre-determined rate every quarter. Execs besides Elon have been selling as part of the plan, and company employees are free to sell as well.

According to SEC filings, Elon himself hasn't sold any recently, but he owns 20% of Tesla, worth about $10B today. Even if Tesla drops 10x, he would have $100M worth of shares. Not to mention all his other assets, shares in SpaceX etc. He has more money than he will ever need.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by differentView on Wednesday February 17, 2021 @01:10AM (#26163272)

> but he owns 20% of Tesla, worth about $10B today.

Tesla's market cap is $764.255B. 20% of that is $152.851B.

https://finance.yahoo.com/quote/TSLA/

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Re:Bitcoin surpasses $50K as major companies jump into crypto by zaptheimpaler on Wednesday February 17, 2021 @04:14AM (#26164351)

Thanks, that number did seem a little off to me :)

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Re:Bitcoin surpasses $50K as major companies jump into crypto by didibus on Wednesday February 17, 2021 @06:17PM (#26173177)

> He has more money than he will ever need

Sure, he also probably takes a salary for his role at the companies as well. Still, there's a reason he continues to work I'd assume? It might be he truly wants to get electric car on the road, or it could be he wants more money. In both cases you could ask: "Can Tesla survive his inevitable exit?"

So ignoring Elon's motivations here, as maybe he just has fun running Tesla, who knows, still the question is relevant to other investors into the Tesla stock, and for Tesla's employees.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by root_axis on Wednesday February 17, 2021 @12:20AM (#26163008)

Fake it till you make it.

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