TSLA bitcoin purchase.

How is that evidenced by history except for some very isolated instances that lead to a fiat devaluation for very clear political reasons? It's like saying that all materialism on earth is doomed because it spoils. Sure if you give it a few 1000 years. No, the demise of fiat currencies is not predicated on history at all. You took a fair comparison completely out of context to try to make a point that is, however, not well evidenced by history.

Sprout said:
One could say the same about fiat.

All fiat goes to zero, eventually.
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Specterx said:
I see this more as Elon trying to grab attention and gun the share price than anything else.

What's interesting to me is that TSLA's open PnL from this can fluctuate as much in a week as the profits they report in an entire quarter. Those who study market history might be reminded of Japan in the late 1980s, when toaster factories started to make vastly more from real-estate speculation than they did from making toasters... until the tide went out.
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Elon's a populist, he knows what the mob wants and adjusts accordingly
 
maxinger said:
BTC futures margin requirement $91K !!!

time for mini, macro, nano BTC Futures
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Good points/IBD like$ hi priced stuff.
BUT that goes for cash markets or early bull leverage. ANOTHER BIG problem for bit con/\ huge bid ask spread..................................................................................................
 
Pekelo said:
I remember the guy who bought a Lambo with Bitcoin. Because of the wild appreciation, that must have been the most expensive car to be purchased. Well, let's see:

"He caught the attention of the dealership though — and the internet — by cashing in 45 bitcoins to drive away with a $200,000 2015 Lamborghini Huracan with a white matte wrap and race exhaust features. Thanks to an early interest in cryptocurrencies, buying those 45 bitcoin cost Saddington less than $115."

Another way looking at the purchase is that 45 times 44K is almost 2 MM bucks so he easily overpaid by 900%.

And that is kids how I me.... I mean why cryptos are not good as currency. Beside the $20 transaction fee for ETH. (I used to like ETH)
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This is nonsense. Why didn't we all put our entire net liq into BTC/USD at $12? He sold it at the prevailing rate. End of story.

He didn't swap one investment for another. Nobody considers (any) new car purchase an investment. You're looking at it the same as the housing buyer did in 2008.
 
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Tesla is accepting bitcoin as a payment method but they may use a payment processor that automatically converts it to US $. I don't know if this is the case or if Tesla will actually keep the bitcoins as Overstock did.

The important part of the news is that Tesla converted almost 10% of its cash reserves to bitcoin

MSTR, Stone Ridge, Square, now Tesla and there are others who have done this.

Microstrategy has completed a "Bitcoin for CEO's conference" on 2/3 - 2/4/2021 to open source this strategy and there was a high interest

I wonder if AAPL will use part of their huge cash reserves and convert to bitcoin and how much?

ICYMI, I started the video below on this topic.

 
johnarb said:
Tesla is accepting bitcoin as a payment method but they may use a payment processor that automatically converts it to US $. I don't know if this is the case or if Tesla will actually keep the bitcoins as Overstock did.

The important part of the news is that Tesla converted almost 10% of its cash reserves to bitcoin

MSTR, Stone Ridge, Square, now Tesla and there are others who have done this.

Microstrategy has completed a "Bitcoin for CEO's conference" on 2/3 - 2/4/2021 to open source this strategy and there was a high interest

I wonder if AAPL will use part of their huge cash reserves and convert to bitcoin and how much?

ICYMI, I started the video below on this topic.

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TSLA is too large to ignore the FX risk. They'll pay the processor for taking that risk. They aren't going to allow BTC to be a driver of earnings. I see his 10% stake as a fundamental call, but I can't see him allowing it as a fiduciary--even knowing the guy is a schizo.
 
Specterx said:
I see this more as Elon trying to grab attention and gun the share price than anything else.

What's interesting to me is that TSLA's open PnL from this can fluctuate as much in a week as the profits they report in an entire quarter. Those who study market history might be reminded of Japan in the late 1980s, when toaster factories started to make vastly more from real-estate speculation than they did from making toasters... until the tide went out.
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I don't disagree but how do you reconcile your bearish leaning with your public calls in Daal's thread for Nasdaq > 20k?

If you are right, Nasdaq shouldn't even hit 15k. One of these 2 things don't match up.
 
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