Tesla sells its BTC in full recovery of the crypto market

newsonjapan.com -- Aug 11
After issuing the quarterly reports of the companies listed on the financial markets, Tesla made public the sale of around 75% of the stored units of Blockchain-Jobz site, representing more than 900 million dollars.

This event happened during this second quarter, which could have contributed in a certain way to the market continuing to fall; this news possibly occurred in the last days of June.

Now is the time to analyze when this event could have occurred, which led to the digital financial market further accentuating its downward trend.

If we take a tour during 2021, we could see how Elon Musk, after his opinions, usually has a direct effect on the financial market, contributing to its rise or fall, but, in this case, there is doubt since it is news that is generated almost a month ago.

Was Tesla one of the Bitcoin whales?

2022 has not been one of the best for Bitcoin and crypto investments; since the beginning of the year, we have witnessed prices falling steadily and periodically without finding a floor to stop them.

Not only small investors entered into a state of alarm, but also large corporations such as Tesla began to follow the variations of Bitcoin more closely.

Even though Tesla's concept is not on the same path as Bitcoin in terms of energy savings, in the case of mining this crypto active, it became one of its whales.

After the electric vehicle corporation acquired a significant amount of Bitcoin that reached 1,500 million dollars in 2021, it decided to make a small sale of 10%, which yielded profits exceeding 100 million dollars, which is not wrong to be its first investment.

After this situation, he arranged to keep the remaining units in storage; what was not expected was a global economic and financial situation that could have drastic results on this crypto active, where its purchase value has always been more significant than the current price of Bitcoin after the crypto winter.

Investment or corporate strategy

Tesla's position against Bitcoin has been quite strong; as it considers that the conception of this digital currency could reflect it in the future as an alternative currency to those existing in the traditional financial market.

For many, opinions are pretty risky; for others, they are the closest thing to the economic reality of the future.

In its latest reports, Tesla has maintained a long-term vision regarding the use of Bitcoin because its investments are usually more strategies that allow it to obtain profitability in terms of capital; however, they also assume that Bitcoin could even replace the dollar.

It could be considered the main reason they kept the Bitcoin units acquired during 2021 stored and on hold.

From purchase price to sale price

At the beginning of the year 2021, Tesla decided to purchase around 47,000 Bitcoins, which were bought at a value of 31,620; in the middle of the year, Elon Musk decided to sell 10% of his savings in this crypto-active, obtaining not insignificant profits, almost 100 million dollars.

After seeing that the returns of Bitcoin were a reality, they decided to do Hodl. Still, history changed, although it could be said that globally, with the profits obtained in that last sale, the losses for June could have been compensated.

By June, he decided to sell 75% of his Bitcoins at a theoretical value. Assuming that they were sold on this date at a value between 19,000 dollars, if both prices are compared, he could have a loss of almost 40%. Still, he preferred to add capital to his company.

The idea of storing Bitcoin is not dismissed.

This company, whose technology is based on protecting the environment by eliminating fuel consumption in its vehicles, does not rule out the possibility of acquiring new Bitcoin units again.

It is due to their faithful conviction regarding cryptocurrencies as a long-term investment and that they could be a solid alternative to fiduciary currencies.

Conclusion

The digital financial market, during its short history, has had followers. In some cases, not many are in its favor, but we must be sure that they have changed the perspective of seeing finances, reaching the point those investors with step. Over time, they adapt to their behavior. More information on Bitcoin-Prime trading system

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