Re:Tesla has suspended vehicle purchases using Bitcoin
by adventured on Wednesday May 12, 2021 @07:30PM
(#27136492)
> Musk smartly decided he did not want to risk his half a trillion dollar company on random bitcoin fluctuations.
It's not going to matter. If Bitcoin is going down persistently it means we're on the back side of this global asset mania (which the commodity bubble may be signaling, that we're in or close to the 9th inning), and Tesla's stock is going with it under all scenarios. $900 to $589 is already telling an obvious story.
Granted it's not just Tesla's bubble that is well over, the cloud bubble has ended as well (just wait until you see how low eg Snowflake goes, top to bottom).
Amusingly, Bitcoin is likely to hold its value better than Tesla, in the case of the asset bubbles giving out. The market will look to value Tesla a bit closer to fundamentals (already happening), which is another 70-90% down for Tesla. At some point Tesla will be valued based on cashflow, profit production, and they'll never be able to support a $500b valuation; whereas Bitcoin can support something like a trillion dollar valuation globally (even if it takes more time to hold that ground persistently).
I can't wait to go value hunting in the cloud again, as in March of 2020. Tesla won't be on that shopping list.
It's not going to matter. If Bitcoin is going down persistently it means we're on the back side of this global asset mania (which the commodity bubble may be signaling, that we're in or close to the 9th inning), and Tesla's stock is going with it under all scenarios. $900 to $589 is already telling an obvious story.
Granted it's not just Tesla's bubble that is well over, the cloud bubble has ended as well (just wait until you see how low eg Snowflake goes, top to bottom).
Amusingly, Bitcoin is likely to hold its value better than Tesla, in the case of the asset bubbles giving out. The market will look to value Tesla a bit closer to fundamentals (already happening), which is another 70-90% down for Tesla. At some point Tesla will be valued based on cashflow, profit production, and they'll never be able to support a $500b valuation; whereas Bitcoin can support something like a trillion dollar valuation globally (even if it takes more time to hold that ground persistently).
I can't wait to go value hunting in the cloud again, as in March of 2020. Tesla won't be on that shopping list.