Tesla buying Bitcoin was the news that made the $BTC rise a lot during Q1 of 2021. However, while most of the people thought institutions were going to keep it for a long time (years ...), Tesla seems to have another strategy.
A 272 billion $ sale
Even if it is a huge and crazy amount of money for "normal" people like us, it is not so much for a firm like Tesla and compared to its initial investment. Indeed, that is about 10% of the value the currently have in their treasury. Was this move an opportunistic move ? My first answer would be yes, as they've already been taking profits with this $BTC investment. But let's ask about it to the people concerned.
What is the Tesla financial director saying
In those quotes, he is saying that it was actually a good decision (lol really ?). He's also adding that they have used cash that wasn't currently useful for Tesla. In other quotes, he also tells us that the BTC liquidity has surprised them a lot and they enjoyed it.
However, he confirms that Tesla is involved in this investment for the long term but this sale was made to boost their results of Q1.
This announcement may be related with the recent decrease of the BTC prize if some people knew that Tesla was selling $BTC.
Were you expecting Tesla to sell BTC early 2021 ? Personally, absolutely not ! Tell me more in the comment section.
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