The exposure Tesla got with the purchase was nearly priceless. Basically free global marketing.

The profit/loss was never really an issue…

True. I expected this as well because I remember elon hated btc for not being an environment friendly but I wonder why they only sell 75 percent of their btc wealth? Even if they sell it all, they will still be in profit because they got involved in btc long time ago. I think that was before the last year's hype.

Elon is not that active anymore when it comes to crypto talks so don't worry because I think he will completely abandon crypto soon because there are more interesting things that he will be doing than posting stuffs about cryptos which aren't really that beneficial to the majority. I just hope that this news here won't affect the small improvement of btc.

Thats how business works and the owner is indeed that not dumb not to make some steps which wont really be that relevant or not good for the business.All things had been planned from getting profit from their crypto investment and at the same time they are really indeed getting that attention or exposure.Win-win situation right? You wont really be making yourself a billionaire if you arent
really that good when it comes to these things. Properly planned indeed but since its their money and i dont know on why some people are really that in rage on why Tesla had sold out their
crypto holdings? Its their asset so they do have the full right on when they would be selling it out.We cant really just tell them to hold on like forever.There's always a tendency or chances for
them to sell off if they do see that it is indeed the right time.

This might be another failed attempt by Elon Musk's to try to manipulate the market for his own benefit. By selling BTC, prices could dump so he could buy more coins at a discount. Rinse and repeat. I don't think the company sold at a loss, since it still has a lot of money at its disposal. It really doesn't matter what Elon or his company does with their BTC holdings.

People should stop following Elon Musk and focus on what makes crypto best. Decentralization is what is truly about to bring banking to the unbanked. BTC is projected to reach $1m in the future, so Elon would be missing a huge profit opportunity if he gets out now. With or without Elon, I'm pretty confident Bitcoin will last for generations. Just my thoughts

This is definitely a good point, but I would argue that there are still two sides to the coin when it comes to Tesla getting involved with Bitcoin. Tesla doesn't only try to position itself as a "green" car brand. It is also strongly aiming at resonating with the digital generation. Fancy looking, highly technological cars. Everything is about connection and data, everything is automatic and digital. Tesla making a move into Bitcoin was about more than just acquiring a digital currency that Tesla believes to be of high temporary and future relevance and probably of speculative value

https://www.cnet.com/personal-finance/tesla-sold-936m-of-bitcoin-kept-its-dogecoin-reserves/

To me it was also a major marketing move towards a global movement that has been growing exponentially all around the globe for a decade now. Like, really, would a car company buy Bitcoin AND Dogecoin solely in hopes of making a net profit at some point in time in the future? That's not to be denied, but by no means is that the only reason in my opinion. Getting into crypto, and specifically into Bitcoin and Dogecoin, was well considered from a marketing perspective.

https://www.outlookindia.com/website/story/business-news-doge-funded-elon-musk-moon-mission-creates-buzz-but-meme-coin-falls/400755

Obviously, Musk playing around with Dogecoin, sending satellites to the moon and whatever else he has/had planned was clearly ending up in massive media attention and marketing for Tesla.

After all, does anyone really know how many Bitcoin and Dogecoin Musk owns privately? Could anyone tell for sure that Musk is NOT one of the biggest Bitcoin or Dogecoin holders in the world? Or has been in the past and knew about his influence when distancing himself and Tesla from PoW right after he potentially sold as a private person?

I think this is a super difficult and complex topic. He might also clearly have underestimated the backfire from all the renewable energy stakeholders as you said. That definitely also played a role.

Exactly this. Each time the shorts fail and the losses start to pile on we see this type of FUD come out trying to push the price lower so that the desperate speculators could recover a small amount of what they'd lost.

For someone who has several hundred billion $, I think $1.5 billion is actually a very small amount to buy a place in the everyday Bitcoin discussions. What surprises me is that people equate the money that someone has invested with the fact that someone has knowledge or honorable intentions in all of this.

The average investor's need to have a leader seems to be stronger than the very idea represented by Bitcoin, which is clearly seen from how many millions follow every word that comes out of the mouth of their idol. It didn't work with any person who tried to impose himself as a person of special importance, and now it turns out that Musk is no crypto messiah either.

Regarding the OP, I just have to say: better for the plebs. They have a chance of buying a bit more for them and make it a bit less centralised in terms of possession!

Are you implying that Tesla founded in 2003 doesn't know what risk management was all about, they have been in the system right before the genesis block was mined, they knew what they did. It is not as if it was only bitcoin they had as an option to get fiat to stock more items due to recession but I feel they don't believe in bitcoin as a store of value otherwise they would have sorted out the fiat elsewhere.


It wouldn't be far from what franky1 discuss here: https://bt.irlbtc.com/view/5407060.msg60604239#msg60604239


They had plans and that was what they just executed and surprises the public. It will be ridiculous that a company like Tesla doesn't have plans, plans are secretive to the mind and that was what they had in mind should in case things don't go as planned, they sold and left the remaining 15% as another plan we don't know yet.

Elon cannot really change the market as much as he thinks he could. Sure, it has been a "bad" market for the past 24 hours, but bitcoin has been 10%+ higher in the past week, and ETH has been 30%+ higher in the past week as well. So, just realize what you are doing and that would be something much better.

In the end, crypto is not in the hands of just one person, it's in the hands of many people and that is why there isn't any type of situation where people could end up selling or buying and creating a chaos in the market that would benefit them. Elon is doing that, he always says he bought it when he needs the price to go up, and says he sold it when he needs it to go down, and that manipulation stops eventually.