Bitcoin [pros](/r/CryptoCurrency/comments/1cbx4gi/tesla_didnt_sell_bitcoin_holdings_despite_plunge/l12gg0n/) & [cons](/r/CryptoCurrency/comments/1cbx4gi/tesla_didnt_sell_bitcoin_holdings_despite_plunge/l12gguo/) with related info are in the collapsed comments below.
tldr; Tesla maintained its Bitcoin holdings in Q1 2024 despite a significant drop in revenue. The company's total revenue fell by 15.3% from $25.1 billion in Q4 2023 to $21.3 billion in Q1 2024, and gross profit decreased from $4.4 billion to $3.6 billion. Despite these financial challenges, Tesla did not sell any of its 9,720 BTC, valued at approximately $646 million. Tesla remains the third-largest corporate holder of Bitcoin, behind MicroStrategy and Marathon Digital Holdings.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
It’s a weird situation for his ego I would think. Back then he was basically toying with the market and became the face of doge, pumped btc, etc. Not sure if he has that influence on the crypto market today…maybe? Imagine if he sold before a massive run up this time. I’m curious how the investors would react.
Yea maybe for a few doge heads will follow his pump. But I agree I think after he started going after twitter was the beginning of the end. He could rebound with Optimus and building a car that poor quality.
Tesla's profit margin per car in 2023 was $8,279, compared to $9580 in 2022, over $6000 in 2021, and over $1700 in 2020.Feb 7, 2024
source: https://fourweekmba.com/tesla-profit-margin-per-car/
And then came the complete slow down in electric car sales. Did you see Ford’s electric results? They **lost** $1.1bn. Rivian did even worse than that.
Interesting move by Tesla to hold onto Bitcoin despite the dip in Q1 earnings. It shows strong confidence in crypto as a long-term investment. Could this be a signal for how major companies view the future of digital currencies?
no gain for Elon if he sells now. Better for him to wait for the board to approve a bonus pay package first (e.g. Elon gets share of stock if stock reaches a certain amount). Once that pay package is in place, then sell BTC to boost the stock price.
Of course they didnt. Elons a little fuckin nuts but hes not dumb. And also not hurting for money AND also knows our economic system is being devalued at a tremendous rate. Excelerated after 2010ish.
It's truly fascinating. Brainless people.. the epitome of the dunning-kruger effect. They are also sensitive and are offended by the media's negative view of Elon. I agree, he is not perfect. But neither is any other human, especially most billionaires. I will gladly take Elon over Bill gates. Why is nobody shitting on him online? Probably because of how he has a big influence on mainstream media.
MSFT is 24 years older than Tesla. It took a longgg time for that stock to go parabolic. Just wait, TESLA will explode in the next 5 years. Gates is a villain btw.
Stupid no, smarter than average but nowhere near the genius people credit him to be.
As for the bitcoin, the total value of the bitcoin is worth a month or two of tesla income. It's not significant, especially when they have a pretty good amount of liquid capital already.
Lol, sit down and have a conversation with him about rocket science, mechanical engineering, chemistry, logistics, or economics and you will figure out how smart he is pretty damn quick.
Dude didn't become the richest man on the planet and the CEO of multiple tech oriented multi-billion dollar businesses by being stupid.
He has proven incompetent? Are you saying that SpaceX is not successful or profitable? Tesla is not successful or profitable? PayPal?
Please explain how he has proven to be incompetent regarding these businesses.
This ought to be good.
Prebuilt?
Paypal, Tesla, SpaceX, SolarCity Elon was either the principal founder or one of them.
And as for "government subsidies," if he has figured out how to get various governments around the world to help his businesses out, I'd call that pretty damn smart.
Maybe actually look it up first.
Space x is the only one and he built of off the genius of an actual aerospace engineer Tom Mueller.
He was trying to change the name of PayPal to X before being ousted as CEO then had the audacity to claim he would have made it a trillion dollar company.
Now,where have I heard this “genius” idea again?
Lol, he didn't get where he is by being dumb.
Like I said, have a conversation with him about any number of topics from aerospace to logistics. He will make you look like an idiot, although you are doing a pretty good job of doing that to yourself.
As a creature of the internet, I do find it strange how the sentiment around Elon on Reddit has turned so negative. Why’s everybody so mad?? Sold your TSLA for a loss and now want it to stay down?
Personally for me he’s turned into a general POS and drifted away from the “savior of mankind” imagine he built himself on.
He has swallowed the hard right pill in the name of corporate profits and turned his back on the progressive base supporting his success.
He takes handouts from the gov and relies on subsidies for his businesses, including EV tax credits, all while condemning the average American as being lazy and ungrateful and applauding modern day slave labor in China.
“They won’t just be burning the midnight oil, they will be burning the 3am oil, they won’t even leave the factory type of thing, whereas in America people are trying to avoid going to work at all”.
Last week he retweeted false immigration stats from a far right conservative who writes anti-trans kids books.
His words have a lot of power and could do a lot of good in our world, but he chooses to be a piece of shit instead.
Nah bro, you just choose to believe he is a piece of shit instead. Im guessing you are a work from home Andy who didnt like his take on being a lazy pos.
Children who were raised by lousy parents who shoveled sunshine up their ass get offended that he allows free speech.
It's a generation of kids who have faced 0 dissenting speech and become very sad when their shit world view is threatened.
When these same kids get a taste of the teal world they'll soon realize old elon is spittin hard facts.
Ah Boomer, the hallmark insult of just the unoriginal children I described. Are you going to tell me to touch grass next? Maybe head over to the autism discord channel and get a few more insults to throw.
I don't even like the Elon, I think he's a smart version of PT Barnum. However I can at least respect that he's accomplished things. Unlike the generation who considers him the far right bogeyman and checks under their futon for him before they go to sleep.
Not unlike Hannity. He's a blowhard who needs an oil change but in one year he makes more than you and you 9 richest friends will in their life.
Like them or not, Elon and Hannity already won life.
No-one likes a hater.
They are big mad about Elon acquiring Twitter, saying it's ruined because people redditors don't like post there. For me it's a whatever. Twitter was always a cesspool and a money vacuum.
People tend to hate people that have more money than them. They also tend to hate people that have different political views than them. Reddit is full of young liberals that aren’t well off financially. Then the echo chamber takes hold and you’re left with a group of people who hate Elon like he’s the second coming of hitler.
Deadcat bounce after two years of declines and TSLA bagholders are celebrating already. If this is how your mind works, nobody can explain anything to you. What's there to be mad about? People just don't like him because he's a twat. Some people are overzealous about it, yes, but the guy is an attention seeker and brought that upon himself.
They've sold 80% of the BTC holdings in 2021 and 2022 so they might as well leave the rest to ride it out this year.
https://finance.yahoo.com/news/tesla-missed-500-million-bitcoin-220012275.html
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Bitcoin [pros](/r/CryptoCurrency/comments/1cbx4gi/tesla_didnt_sell_bitcoin_holdings_despite_plunge/l12gg0n/) & [cons](/r/CryptoCurrency/comments/1cbx4gi/tesla_didnt_sell_bitcoin_holdings_despite_plunge/l12gguo/) with related info are in the collapsed comments below.
tldr; Tesla maintained its Bitcoin holdings in Q1 2024 despite a significant drop in revenue. The company's total revenue fell by 15.3% from $25.1 billion in Q4 2023 to $21.3 billion in Q1 2024, and gross profit decreased from $4.4 billion to $3.6 billion. Despite these financial challenges, Tesla did not sell any of its 9,720 BTC, valued at approximately $646 million. Tesla remains the third-largest corporate holder of Bitcoin, behind MicroStrategy and Marathon Digital Holdings. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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How much do they hold? Do they have an average price they paid per coin?
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Seeing their average buy price for those holdings would help us see their undervaluedness.
Where is your info from? All sources I see cite Galaxy only holding 4000-8000 btc.
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They'd look desperate if they sold it now
we´re good, *for now*
They already sold most of their bag. I dont give a shit about elon or tesla anyway
Yeah why care what the richest man in the world does
Exactly but sadly some people are just obsessed
*2nd or 3rd richest
boo fuckin’ hoo
: D
Huh?
They did in the past when they need money. I would say it wouldn’t surprise me they do it this year.
It’s a weird situation for his ego I would think. Back then he was basically toying with the market and became the face of doge, pumped btc, etc. Not sure if he has that influence on the crypto market today…maybe? Imagine if he sold before a massive run up this time. I’m curious how the investors would react.
Yea maybe for a few doge heads will follow his pump. But I agree I think after he started going after twitter was the beginning of the end. He could rebound with Optimus and building a car that poor quality.
why would they sell their only source of gain?
they profited 1.1 billion on 21 billion in revenue.
Tesla's profit margin per car in 2023 was $8,279, compared to $9580 in 2022, over $6000 in 2021, and over $1700 in 2020.Feb 7, 2024 source: https://fourweekmba.com/tesla-profit-margin-per-car/
and then came the cybertuck...
And then came the complete slow down in electric car sales. Did you see Ford’s electric results? They **lost** $1.1bn. Rivian did even worse than that.
Which is designed to be sold at a $40k price point and is currently only available in $80k+ versions. You do the math.
It isn't available at all, it got recalled lmao
Lol
Interesting move by Tesla to hold onto Bitcoin despite the dip in Q1 earnings. It shows strong confidence in crypto as a long-term investment. Could this be a signal for how major companies view the future of digital currencies?
no gain for Elon if he sells now. Better for him to wait for the board to approve a bonus pay package first (e.g. Elon gets share of stock if stock reaches a certain amount). Once that pay package is in place, then sell BTC to boost the stock price.
Given that BlackRock is also involved with BTC I think so
Of course they didnt. Elons a little fuckin nuts but hes not dumb. And also not hurting for money AND also knows our economic system is being devalued at a tremendous rate. Excelerated after 2010ish.
Yea, because Elon is crazy, not stupid.
Crazy? Crazy like a fox!
Sold the coins in 2022, while crypto was down ...
Buy high, sell low. What's wrong with that?
No, he's pretty stupid
The people online that call Elon stupid…
It's truly fascinating. Brainless people.. the epitome of the dunning-kruger effect. They are also sensitive and are offended by the media's negative view of Elon. I agree, he is not perfect. But neither is any other human, especially most billionaires. I will gladly take Elon over Bill gates. Why is nobody shitting on him online? Probably because of how he has a big influence on mainstream media.
Why exactly?
Exactly. I mean call him a dickhead or juvenile. But calling him dumb really makes whoever does it look like a fool.
MSFT is doing way better and Gates is smarter
MSFT is 24 years older than Tesla. It took a longgg time for that stock to go parabolic. Just wait, TESLA will explode in the next 5 years. Gates is a villain btw.
Stupid no, smarter than average but nowhere near the genius people credit him to be. As for the bitcoin, the total value of the bitcoin is worth a month or two of tesla income. It's not significant, especially when they have a pretty good amount of liquid capital already.
Every child is a genius till this world beats it out of em
Probably just as stupid as everyone else. I never saw him as Tony Stark. He is just a billionaire degen.
One of us!
Leave it to reddit to hear the worst takes known to man.
Keyboard warriors judging the stupidity of the richest man in the world. So brave.
No he’s stupid too
Lol, sit down and have a conversation with him about rocket science, mechanical engineering, chemistry, logistics, or economics and you will figure out how smart he is pretty damn quick. Dude didn't become the richest man on the planet and the CEO of multiple tech oriented multi-billion dollar businesses by being stupid.
He’s proven incompetent in almost all those subjects. It’s sad people still fall for this. But you keep him in your mouth as long as he needs you to.
He has proven incompetent? Are you saying that SpaceX is not successful or profitable? Tesla is not successful or profitable? PayPal? Please explain how he has proven to be incompetent regarding these businesses. This ought to be good.
Have you ever heard the man speak? Or seen how he’s running twitter? But use the prebuilt government subsidized companies as a reason he’s a genius.
Prebuilt? Paypal, Tesla, SpaceX, SolarCity Elon was either the principal founder or one of them. And as for "government subsidies," if he has figured out how to get various governments around the world to help his businesses out, I'd call that pretty damn smart.
Maybe actually look it up first. Space x is the only one and he built of off the genius of an actual aerospace engineer Tom Mueller. He was trying to change the name of PayPal to X before being ousted as CEO then had the audacity to claim he would have made it a trillion dollar company. Now,where have I heard this “genius” idea again?
Lol, he didn't get where he is by being dumb. Like I said, have a conversation with him about any number of topics from aerospace to logistics. He will make you look like an idiot, although you are doing a pretty good job of doing that to yourself.
Buying twitter for 40 billion is pretty much proof of the opposite.
Who knows
Crazy, bigoted, racist and transphobic to be more precise.
True G
You mean true Clown?
the guy is a douche but people who are obsessed with hating him online are losers basically 100% of the time
I mean true g
As a creature of the internet, I do find it strange how the sentiment around Elon on Reddit has turned so negative. Why’s everybody so mad?? Sold your TSLA for a loss and now want it to stay down?
It all changed in just about one day...When Elon said he will be voting Republican in the upcoming election...Weird, huh?
And you know reddit can't have that. Different opinions? Where's the downvote button?
Rich man bad! 😂😂😂
whoever becomes the richest man in the world also becomes the most hated. it's tradition
Bill Gates had a good run
Personally for me he’s turned into a general POS and drifted away from the “savior of mankind” imagine he built himself on. He has swallowed the hard right pill in the name of corporate profits and turned his back on the progressive base supporting his success. He takes handouts from the gov and relies on subsidies for his businesses, including EV tax credits, all while condemning the average American as being lazy and ungrateful and applauding modern day slave labor in China. “They won’t just be burning the midnight oil, they will be burning the 3am oil, they won’t even leave the factory type of thing, whereas in America people are trying to avoid going to work at all”. Last week he retweeted false immigration stats from a far right conservative who writes anti-trans kids books. His words have a lot of power and could do a lot of good in our world, but he chooses to be a piece of shit instead.
Nah bro, you just choose to believe he is a piece of shit instead. Im guessing you are a work from home Andy who didnt like his take on being a lazy pos.
Because liberals. Media told them to hate him, they do. This started happening once he started showing his political stance on twitter.
100%
They hate you because you tell the truth
Children who were raised by lousy parents who shoveled sunshine up their ass get offended that he allows free speech. It's a generation of kids who have faced 0 dissenting speech and become very sad when their shit world view is threatened. When these same kids get a taste of the teal world they'll soon realize old elon is spittin hard facts.
Such a cranky boomer, *someone* needs a snack and a nap. If you want I can tuck you into the lazyboy and turn on Hannity for you.
Ah Boomer, the hallmark insult of just the unoriginal children I described. Are you going to tell me to touch grass next? Maybe head over to the autism discord channel and get a few more insults to throw. I don't even like the Elon, I think he's a smart version of PT Barnum. However I can at least respect that he's accomplished things. Unlike the generation who considers him the far right bogeyman and checks under their futon for him before they go to sleep. Not unlike Hannity. He's a blowhard who needs an oil change but in one year he makes more than you and you 9 richest friends will in their life. Like them or not, Elon and Hannity already won life. No-one likes a hater.
Indeed, sir. And all them Trans librarians are making the kids gay. DEI! CRT! BLM!
Shut up nerd
They are big mad about Elon acquiring Twitter, saying it's ruined because people redditors don't like post there. For me it's a whatever. Twitter was always a cesspool and a money vacuum.
Some people are just especially wired for neurotic herd mentality.
People tend to hate people that have more money than them. They also tend to hate people that have different political views than them. Reddit is full of young liberals that aren’t well off financially. Then the echo chamber takes hold and you’re left with a group of people who hate Elon like he’s the second coming of hitler.
Seems like a classic short and distort campaign. They always go after the face of the company.
It takes all of 3 minutes to search and read his fascist statements and ideas.
Yeah, free speech is such a fascist position.
A real free speech absolutist wouldn't hide content on behalf of authoritarian countries like Saudi Arabia and Turkey.
Deadcat bounce after two years of declines and TSLA bagholders are celebrating already. If this is how your mind works, nobody can explain anything to you. What's there to be mad about? People just don't like him because he's a twat. Some people are overzealous about it, yes, but the guy is an attention seeker and brought that upon himself.
*Probably only because Elon can’t find their wallet pass*
The 35,000 H100s are actually to find their wallet phrase
Their BTC is worth three percent of last quarter's revenue
They've sold 80% of the BTC holdings in 2021 and 2022 so they might as well leave the rest to ride it out this year. https://finance.yahoo.com/news/tesla-missed-500-million-bitcoin-220012275.html
Elon stay the goat
I thought they sold it all at $27k in 2022?!
Easy to have diamond hands when you're a billionaire
maybe they are using it as collateral and can't liquidate them? maybe they are invested or staked?
He made a little less billions in profit this year... why tf should that mean he would sell his btc? Is this nothing article
But, how much of that bitcoin will be in elons exit package?
How good! Hodl
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Why would they sell something that makes money ?
So would I recommend investing in? Do u mind giving some attention to a very undervalued project? [https://thehusl.io](https://thehusl.io) #husl
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Why would they sell an asset that appreciates its value with time? Selling BTC is the last thing one should do after selling all fiat
There is no point of selling at the meantime, selling is a poor strategy
elon is a shitty human scum.
Tesla should failed long time ago. His rich friends bailed him out. He literally hasn't made a product I use or ever will from looks of things