RE: ELON MUSK AND TESLA - the blessing of a threat for BITCOIN and crypto space?
Dear @tsharpaphi
I appreciate you dropping by and sharing your thoughts with me on this particular subject.
At the end of the day Tesla is a real company with a real product that you can buy.
It is real company, but without real product. And definetly without much profits coming from their sale. I personally consider Tesla one of the biggest bubble out there.
Their stake in BTC is a small piece of their available cash.
I wasn't aware of that. Are you sure that TESLA is "sitting" on pile of FIAT currency?
ps.
I found it interesting that just few days after this post, shares of Tesla on stock market crashed down rapidly and BTC crashed as well at the very same moment.
It's hard not to see huge corelation between those two. Wouldn't you agree?
ps. you may also find my recent post interesting :).
Cheers, Piotr
This headline is from The NY Times 27JAN2021: "Tesla Has First Profitable Year, but Competition Is Growing". In the article: "The company reported revenue of $10.7 billion in the fourth quarter, up 45.5 percent from the year-ago period. Its' full year revenue climbed to $31.5 billion, up from $24.6 billion in 2019."
Their BTC stake is just under 8% of their cash. They have been profitable now for about 5 quarters in a row. Will it be sustainable as the subsidies melt away? That is the question that we will have to wait and see.
Tesla fell along with the rest of the market. Technology stocks have taken a beating the past few days in the US market.
thanks for being so responsive @tsharpaphi