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Bitcoin Crash: Tesla Suffers $140 Million BTC Loss, SEC Filing Shows

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In February of 2021, Tesla revealed its intention to sell automobiles using Bitcoin, prompting the price of the cryptocurrency to skyrocket, while also purchasing $ 1.5 billion worth of the crypto.

One BTC was valued at around $ 43,000 at the time of the investment. Elon Musk, CEO of Tesla, was then quite positive about the crypto’s future, stating that the company believes in the “long-term potential” of digital assets as an “investment and liquid alternative to cash.”

Due in part to the billionaire’s passionate support of cryptocurrency, the price of Bitcoin reached historic highs of about $ 70,000 by autumn.  Read more...

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Tesla And Bitcoin Have ‘More In Common Than You Think,’ This Nobel Prize Winner Says

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Nobel Laureate Paul Krugman has joined the ranks of the world’s intellectuals and business moguls to give the thumbs-down to cryptocurrency.

Last June, the American economist drew parallels between the cryptocurrency craze and the real estate bubble of the mid-2000s, stating that consumers’ belief in crypto assets is comparable to their enthusiasm in the US home market prior to its collapse.

Fast forward six months, Krugman has compared the crypto to Tesla and its stocks.

On Tuesday, Krugman wrote an opinion piece in the New York Times regarding Tesla, bitcoin, and their massive market prices.

In his article, he inquired:  Read more...

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Elon Musk Sells Tesla Shares Worth $3.58 Billion, Will He Buy Bitcoin Or Dogecoin?

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For the fourth time this year, Elon Musk has sold Tesla shares worth billions. The crypto community is puzzling over whether and what implications this could have on his Bitcoin and Dogecoin holdings, or even Tesla’s BTC holdings.

Musk sold $ 3.58 billion worth of shares from Monday to Wednesday, a filing with the U.S. Securities and Exchange Commission reveals. What Musk plans to use the money for is currently unclear. Naturally, the crypto community speculates about what will happen with the cash. Since Musk announced the now-completed acquisition of Twitter in April 2022, the entrepreneur has parted with $ 23 billion worth of Tesla shares.  Read more...

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Third Quarter Report Shows Tesla Is Still Holding On To Its Bitcoin

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The second quarter of 2022 had been set ablaze with speculation after automotive manufacturer Tesla reported that it had sold 3/4 of its bitcoin holdings. The value of its bitcoin holdings had declined during this time and the $ 936 million sale had been reportedly put into traditional currencies. However, it seems the company is not yet done with the digital asset as it continues to hold on to the remaining stash.

Not Selling Bitcoin

The Q3 report from the electric vehicle manufacturer shows that it is not at all done with cryptocurrencies. Its digital assets stash since the sale remains intact according to the report as Tesla holds $ 218 million worth of assets and 9,720 BTC.  Read more...

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Crypto Reacts: Tesla Panic Sells Its Bitcoin, The Internet Explodes

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One thing’s for sure, Tesla’s CEO knows how to generate headlines. The infamous Elon Musk was the talk of the town today, as news of his company selling 75% of their bitcoin hit the wires. The reactions go from clowning Musk to overanalyzing the situation and everything in between. What a fun day in crypto land. 

What did the people write and how did they tweet it? Let’s find out.   Read more...

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BREAKING: Elon Musk’s Tesla Sold 75% of Its Bitcoin

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A Q2, 2022 update by Telsa shows the company sold 75% of its bitcoin holdings, adding $ 936 million in cash to its balance sheet.

Today, it was announced in a Q2 update by Tesla that the electric car manufacturer had sold 75% of its bitcoin holdings. 

“As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency,” the update stated. “Conversions in Q2 added $ 936M of cash to our balance sheet.” 

Tesla held around a total of 42,000 BTC at the start of Q2, and sold the majority of the bitcoin at an average price of ~$ 29,000.  Read more...

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Tesla Warning Ahead of Q2 Earnings as Analyst Downgrades Stock

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Tesla earnings are almost here and the electric vehicle maker’s stock has been dealt another blow. Roth Capital Partners has downgraded Tesla stock from buy to hold, as analyst Craig Irwin believes that the current risk-reward ratio seems “well balanced at current levels.” Irwin told MarketWatch that Tesla is on a “viable path for meeting […]

The post Tesla Warning Ahead of Q2 Earnings as Analyst Downgrades Stock appeared first on CCN Markets

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Elon Musk Tries to Trick Tesla Owner, Fails Hilariously

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The very best con artists can convince people that the moon is made of green cheese and that the sky is the ocean. Or, in the case of Elon Musk, he’ll try to convince people that a Tesla will defy the laws of the free market and actually appreciate in value over time. Lies, Lies, […]

The post Elon Musk Tries to Trick Tesla Owner, Fails Hilariously appeared first on CCN Markets

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Tesla Bigwigs Keep Jumping Ship Despite Elon Musk’s Record Quarter

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Tesla stock has been in turnaround mode after Elon Musk delivered on his bold claim of achieving a “record” quarter. But all is not well in Tesla-land as executive departures continue to mount at an alarming rate. Scoop: Tesla's VP of interior & exterior engineering, Steve MacManus, is out. He's (at least) the third executive […]

The post Tesla Bigwigs Keep Jumping Ship Despite Elon Musk’s Record Quarter appeared first on CCN Markets

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Elon Musk Takes Victory Lap as Tesla Smashes Delivery Record

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In a stunning comeback for Elon Musk’s Tesla, the electric car manufacturer broke its record for car deliveries last quarter. With 95,200 cars delivered (more than 4,200 more than markets expected), Tesla stock (TSLA) was skyrocketing in after-hours trading, up more than 7%. Congratulations Tesla team & thanks to all the new Tesla owners!! ♥️♥️ […]

The post Elon Musk Takes Victory Lap as Tesla Smashes Delivery Record appeared first on CCN Markets

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Tesla & Apple Stock Blast Higher as Trade War Thaws

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Tesla stock and Apple stock are on the move, thanks to positive developments regarding the tariff war with China. A Slight Thaw in The Trade War During the G20 meeting, President Donald Trump met with Chinese President Xi Jinping. Little was expected from the meeting, but the leaders surprised the world by announcing a temporary […]

The post Tesla & Apple Stock Blast Higher as Trade War Thaws appeared first on CCN Markets

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Tesla Is Secretly Building Its Own Battery Cells, but Is Musk Overreaching?

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There is no doubt that Elon Musk is a visionary man with ambitions that may or may not materialize in the long run. The Tesla CEO has his hands full with ventures in space, on Earth, and even below the ground. Now it looks like he is on his way to add another feather to […]

The post Tesla Is Secretly Building Its Own Battery Cells, but Is Musk Overreaching? appeared first on CCN Markets

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Tesla Stock Shorters Think Elon Musk is Bluffing

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Tesla has a problem. Short sellers are piling into the stock despite CEO Elon Musk’s claims at a recent shareholder meeting that the electric vehicle maker could deliver a “record quarter at every level.” Ihor Dusaniwsky, the managing director of financial analytics firm S3 Partners, points out that nearly 35% of Tesla stock’s float is […]

The post Tesla Stock Shorters Think Elon Musk is Bluffing appeared first on CCN Markets

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Cult of Elon Musk: Groupies Help $40 Billion Tesla Hit Q2 Target

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If there was any doubt regarding the ability of Elon Musk to mesmerize his groupies, just look at the Tesla Owners Silicon Valley group. These starry-eyed Tesla owners are actually volunteering to help the EV giant – a $ 40 billion for-profit company – achieve its end-of-quarter delivery targets. Donuts for Overworked Tesla Employees In the case of the Silicon Valley group, these Tesla owners delivered donuts to overworked employees at three Tesla locations. According to a quote in Teslarati.com, one volunteer said: “We love the Tesla brand. Unfortunately, the media is cutting them down any chance they get. It’s like kicking  Read more...

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Tesla Suffers Blow After Analyst Warns Demand ‘Likely Not Sustainable’

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By CCN Markets: Goldman Sachs analyst David Tamberrino delivered some ugly thoughts about Tesla’s stock, and it relates the sustainability of demand. There is a lot of that going around. Tesla’s annual revenue: 2019: $ 25.0 billion*2018: $ 21.5 billion2017: $ 11.8 billion 2016: $ 7.0 billion2015: $ 4.1 billion 2014: $ 3.2 billion2013: $ 2.0 billion2012: $ 413 million2011: $ 204 million2010: $ 117 million2009: $ 112 million2008: $ 15 million *analyst forecasts pic.twitter.com/wDjKbRODSR — Jon Erlichman (@JonErlichman) June 21, 2019 Tesla’s Success is Due to Government Rent-Seeking One of the many criticisms regarding Tesla is its reliance on government handouts, including tax incentives. The federal government provided a whopping $ 7,500  Read more...

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Tesla Could Miss Model 3 Delivery Targets. Here’s Why It’s Not Shocking

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By CCN Markets: After Elon Musk announced that he was cracking the whip on Tesla employees to hit unrealistic quarterly delivery targets, a document leak suggests that target will not be met, according to Business Insider. This comes as a surprise to nobody. Overpromising and Under-Delivering, as Usual After boasting that Tesla would deliver 90,000 cars in the quarter, Elon Musk has backed himself into a corner. The master of overpromising and under-delivering can’t shut up. Business Insider reports that, according to documents it has viewed, things are looking bad: “According to documents that describe the daily output rate for  Read more...

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Tesla Bull Says Stock Will Rise 133% by This Time Next Year

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By CCN Markets: Despite the performance of Tesla’s stock this year, there’s no shortage of TSLA bulls. Even though the stock has lost around 25% of its market cap year-to-date, Alexander Haissl of Berenberg told CNBC he is looking for a price target of $ 500. The stock is currently hovering at $ 214. “We maintain our bullish view on Tesla and see no reason to walk away from our price target of $ 500. Demand worries are overblown, as the Q1 volume weakness was largely self-inflicted by logistic problems, uncertainty about store closures and changing pricing structure, and not indicative of the  Read more...

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Elon Musk Spreads FOMO with California Tax-Infused Tesla Sales Pitch

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By CCN Markets: Elon Musk is bringing the FOMO, or Fear of Missing Out. The Tesla CEO tweeted out a reminder that federal tax credits for buying a Tesla will drop by half on July 1. He pointed out in another tweet that EV buyers in California will still have the Golden State’s $ 2,500 tax credit. US tax credit of $ 3750 drops in half for Tesla on July 1. Order online in a few mins at https://t.co/46TXqRrsdr. Return in 7 days for full refund. — Elon Musk (@elonmusk) June 14, 2019 The Tesla Tax Credit Halvening The current tax credit  Read more...

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Elon Musk Teases Further Tesla (TSLA) Video Game Integrations

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Billionaire Elon Musk revealed on Twitter this weekend that Tesla (TSLA) is currently in the process of porting numerous video game engines to bring popular titles to the in-car touchscreen. Lots more games coming once we finish porting Unity! https://t.co/fRbk1r5YDM — Elon Musk (@elonmusk) May 18, 2019 In his series of tweets, Musk claimed that […]
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TRON (TRX) CEO Justin Sun Is Giving Away a Tesla… and $20 Million

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Justin Sun, the CEO of TRON (TRX), the tenth-largest digital currency, took to Twitter on Tuesday to unveil a “global appreciation campaign,” which includes a $ 20 million airdrop and a free Tesla. The catch? Sun is asking people to retweet the post and follow him by March 27 — a clear push to help boost […]
SludgeFeed

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