THELOGICALINDIAN - Its time for addition copy of By The Numbers This time able-bodied use a bearding analysts numbers to acquisition out if Tesla is in the red back it comes to their Bitcoin backing The admonition actuality is if bitcoins amount loses the 30K akin could Teslas lath burden Elon Musk into affairs And if they do would that account addition alternation of red candles In any case were aloof apperception
Let’s stop that and go to the numbers.
As you can see, they’re on the edge. Tesla took accumulation back they awash that 10% for $272M “to analysis liquidity.” And the accepted amount is aloof s tad beneath the $35K boilerplate they paid for their bitcoin. In any case, Tesla currently owns about 38,406 BTC. And 1 BTC = 1 BTC.
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How Did Tesla Got Here?
The funny affair is the acumen that Elon Musk is at atomic partially amenable for Bitcoin’s contempo amount action. When Tesla appear their bitcoin advance the amount went up like crazy. When they advertise they were not accepting bitcoin as acquittal anymore for artificial reasons, the amount crashed. However, alternation doesn’t betoken causation. Did Tesla absolutely move the punch that abundant or was it an optical illusion? We could alone speculate.
However, back Musk tweeted this:
We at Bitcoinist reported:
And we additionally appear on another affectionate of Bitcoin trend that Tesla seems to accept started:
Those two instances are not audible affidavit either, but the trend is clear. Tesla’s accomplishments assume to be affiliated to Bitcoin’s amount in added means than one. And if said amount avalanche beneath the $30K line, Tesla could be absorbed to advertise and all hell could breach loose.
However, these are aloof speculations.
Why Would Elon Musk Play With Bitcoin’s Price If He’s Got Skin In The Game?
Nobody knows for sure, but there are theories amphibian around. ARK Invest’s Catherine Wood, one of Tesla’s better supporters and shareholders, said once:
Related Reading | Wall Street Survey Says: Bitcoin To Close 2021 Under $30K
And according to the abominable Max Keiser, Tesla’s CEO is aloof “a Bitcoin noob authoritative all the aforementioned noob mistakes.” Exploring that idea, our sister armpit NewsBTC concluded:
In any case, Tesla still holds about 38,406 BTC, and those are account about $1.26B. Musk still claims that his aggregation has design easily and will not sell. Bitcoin’s amount is aloft $30K and Tesla is almost in the red. There’s annihilation to anguish about.
