Posted on 02/21/2021 9:09:43 PM PST by RomanSoldier19
‘While the Bitcoin investment is a side show for Tesla, [it is] clearly been a good initial investment and a trend we expect could have a ripple impact for other public companies over the next 12 to 18 months,’ says Ives
Much has been made about the hefty sum that Tesla Inc. has invested in bitcoin, a speculative asset that has only been around since 2009.
Read: Why did Tesla buy bitcoin?
However, early estimates from prominent technology analyst Dan Ives sees the investment by the electric-vehicle maker, headed by outspoken Chief Executive Officer Elon Musk, already minting a digital paper profit of at least $1 billion, as the price of the asset soars to records.
“Based on our calculations, we estimate that Tesla so far has made roughly $1 billion of profit over the last month…To put this in perspective, Tesla is on a trajectory to make more from its Bitcoin investments than profits from selling its [electric vehicle] cars in all of 2020,” wrote Wedbush’s prolific analyst Dan Ives, in a note published on Saturday afternoon.
(Excerpt) Read more at marketwatch.com ...
How? Did Tesla sell? If not, just a blimp on their ledger.
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Should help fund his 2 billion dollar Tesla factory in China.
MicroStrategy has also done this. Remember that DotBomb company from 1999-2001? Their stock has exploded in the past year due to BTC investments.
I thought it would be 5% by now. But that doesn't matter. The Democrats are in charge so they will make sure we will buy EVs.
so do they pull some of the profit out before the down wave
Teslas are awesomely engineered and offer amazing performance. There are also coal powered by proxy.
Electric cars are heralded as pollution free vehicles.
But in many places in America, the electricity to recharge those cars is generated in fossil fuel power plants.
So these cars are not as clean and green as backers claim.
So you want to be one of hip and cool kiddies and buy your car using bitcoin.
So two years ago you bought a Teslsa for $60K in US dollars, 6 bitcoins at that time. But wanting to totally UBER COOL, and not having 6 bitcoins, went to a bank and told the banker you wanted a loan and for it to be in BitCoins. So the banker, who thought it would give the bank some “hip, coolness image” cred agreed. You sign a 5 year loan for 6 bitcoins, since bitcoins were then valued at $10,000 US dollars.
Today you realize that you must pay back $330,000, since bitcoins are now trading at $55,000. WHOOPS!
These crypto kiddies never seem to understand there are TWO SIDES to every financial ledger.
An imaginary asset.
People buy gold in the form of a paper certificate that says they own that gold but they never hold the gold in their hands.
People have bank accounts and never see the full amount in cash. They spend it with plastic cards.
People take out a mortgage for $100k but never see that amount in cash and it ends up costing them $900k in the end due to interest, also never seen in cash.
People buy stocks in tangible assets but never physically hold those assets.
Most money is computer data.
We live in the matrix.
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