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398 sats \ 5 replies \ @holzapfelbaum 20 Jul 2022
"As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency."
Tesla didn't HODL. Or deploy as liquidity on Lightning to earn yield.
Some just have to learn the hard way 🤷♂️
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142 sats \ 1 reply \ @kr OP 20 Jul 2022
it’s not a great headline that tesla sold their bitcoin, but a mainstream media fud cycle could extend the opportunity for buyers to pick up cheap coins.
everyone buys (and sells) at the price they deserve.
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100 sats \ 0 replies \ @holzapfelbaum 21 Jul 2022
ain't that the truth on all three fronts.
was reading Alyse Killeen's thread that what Bitcoin they did sell was at profit, however. so good for them!
not sure that was inflation-adjusted profit, but we will never know because it's next to impossible to calculate the inflation rate at the moment.
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13 sats \ 0 replies \ @Undisciplined 20 Jul
This comment was featured on This Day in Stacker News.
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0 sats \ 1 reply \ @Brunswick 20 Jul 2022
This significantly lowers my confidence in Tesla
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48 sats \ 0 replies \ @holzapfelbaum 21 Jul 2022
they needed to show positive cashflow in Q2.
so they liquidated close to $1b in Bitcoin.
I'm with you on that statement.
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202 sats \ 0 replies \ @Wil 21 Jul 2022 freebie
Elon says it's a liquidity issue with the Shanghai factory shut down and they may buy more in the future.
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199 sats \ 1 reply \ @Porto 21 Jul 2022 freebie
There's a reason for the selling: To avoid reporting a negative cash flow.
Here's a more detailed explanation: https://twitter.com/realmeetkevin/status/1549850031783559176
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0 sats \ 0 replies \ @sancristrader 21 Jul 2022
Yes, but they are selling it at ⅓ of the peak price. Does the value of positive cash flow reporting justify this loss?
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137 sats \ 0 replies \ @djs_btc 20 Jul 2022
catastrophic macro environment + one of the largest whales dumping and we're STILL above $20k. Bullish
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125 sats \ 0 replies \ @kr OP 20 Jul 2022
Their digital asset holdings were valued at $1.26B in Q1, and are now valued at $218M in Q2.
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100 sats \ 0 replies \ @faithandcredit 21 Jul 2022
This is kind of the crypto cantillon effect in reverse. Because now TSLA holds a smaler portion of the total supply. This is something the market might like going forward. I also think MSTR should reduce their holdings. All you need is 1 BTC, there is only 21 million. And not even due to lost keys and so on. And imagine if every company with a website started stacking 1 BTC, its something most companies can do. Very little risk vs the potential upside imo.
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12 sats \ 0 replies \ @selfish_gene 20 Jul 2022
слабая компания... и нуждается в деньгах.... биткоин показывает кто будет падать первым... ахааа
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5 sats \ 0 replies \ @picco 20 Jul 2022
Only Saylor left 💎🙌
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21 sats \ 0 replies \ @2big2fail 20 Jul 2022
GAAP accounting strikes again
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0 sats \ 0 replies \ @ideasourcing 22 Jul 2022
elites' trojan horse
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0 sats \ 0 replies \ @TheBTCManual 21 Jul 2022
They should sell it all, I don't care about Telsa, people who simp for Elon and his subsidised shitcoin company annoy me. Pick up those coins kids, don't let this dude have an outsized stash of bitcoin
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0 sats \ 0 replies \ @sb 20 Jul 2022
Incredible! More for us :)
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0 sats \ 0 replies \ @TCNPsandwich 20 Jul 2022
Woah...that's news 🤯
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0 sats \ 0 replies \ @Oxygen 26 Jul 2022 freebie
Hope Elon is not in trouble