Re:$365B wiped off cryptocurrency market after Tesla stops a...
by tenpies on Thursday May 13, 2021 @08:06PM
(#27149089)
Realistically we won't know until the Q2 financials are out.
Note the wording "*will not* be selling any Bitcoin" not "*has not* sold any Bitcoin". There were major dumps a couple minutes before Elon's announcement. It should be no surprise if Tesla front-run Elon's announcement, knowing that it would affect the price.
They'll keep a trivial amount on the financials, but I suspect the majority was off the books.
They will also use this an excuse to realize revenue in what will appear to be a very lean quarter. I mean they can't exactly sell to "test liquidity" again.
Note the wording "*will not* be selling any Bitcoin" not "*has not* sold any Bitcoin". There were major dumps a couple minutes before Elon's announcement. It should be no surprise if Tesla front-run Elon's announcement, knowing that it would affect the price.
They'll keep a trivial amount on the financials, but I suspect the majority was off the books.
They will also use this an excuse to realize revenue in what will appear to be a very lean quarter. I mean they can't exactly sell to "test liquidity" again.