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A comment on $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin. Parent comment

Re:$365B wiped off cryptocurrency market after Tesla stops a... by ecpottinger on Thursday May 13, 2021 @07:03PM (#27148588)
Assume Tesla stock fell to 100. Well I bought mt stock at 189 pre-split, so the share I bought at 189 are still worth 500. It is the day traders who get hurt, but the people in it for the long haul are still doing fine.

I always get a laugh for the people trying to scare people that Tesla stock will fall while not realizing a lot of the early purchaser will still make a profit even it the stock tanks big.

[ Parent | on HN ]
Re:$365B wiped off cryptocurrency market after Tesla stops a... by BoorishBears on Thursday May 13, 2021 @07:38PM (#27148874)
I don't think I've ever seen someone fail to grasp a point so confidently?

Or maybe you don't know what an institutional investor is? Because you're not an instructional investor...

The comment is saying even if Tesla goes to 100, it doesn't matter to Elon. It's not saying Tesla is going to 100. 100 is an arbitrary number representing a steep drop. It's not about what an "early purchaser" holding peanuts compared to any instructional investor is holding.

It's saying the standard of living of the guy worth 154 Billion isn't going to change because Tesla stock goes up or down. His entire Tesla stake could go to 0 tomorrow morning and he'd still be worth enough for it not to matter to his life past maybe some vanity issues.

[ Parent | on HN ]