In early February, Tesla followed MicroStrategy and purchased Bitcoin. They didn’t just dip their toes, they dove right into the Bitcoin pool. It wasn’t a surprise that Tesla bought Bitcoin as Elon was hinting at it on Twitter, but what was a surprise was that Tesla purchased $1.5 billion in Bitcoin. Tesla also said it might invest more of its cash in digital assets, gold bullion, gold exchange-traded funds and other assets, leaving the door open for Tesla to purchase more Bitcoin.
In May of last year, Elon made headlines after he tweeted that Tesla's share price was too high, causing an instant $60 drop in price. Three months later, Tesla’s stock was 9% higher than the $330 tweet price.
Elon was up to his old tricks again this past Friday, when he tweeted the Bitcoin price was too high.
Tesla initial investment in Bitcoin is already up $1 billion. The paper profits is more than what Tesla sold in cars 2020. So the question is did Elon tweet Bitcoin was too high, so he could buy more Bitcoin?
Video Source: https://www.youtube.com/c/CNBCtelevision/videos
So the question is did Elon tweet Bitcoin was too high, so he could buy more Bitcoin? Apparently someone bought the dip as price is now trading $5k above the today's low of $48k.
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I wouldnt be surprised if he was investigated. I don't know what it could produce though. Like you said, he's up to his old tricks again. He tweets and someone is buying or selling. Would not surprise me in the slightest of we see more and more "influential" people on social platforms use their influence to pickup coins at a discount.
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Yeah, the only issue is these people running public cos. have to be careful because they have so much influence.
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would have to agree with yeah!
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Although Tesla had made gains from the BTC price increase - how did that balance out against the loss in their stock value?
Elon's BTC announcement did seem to trigger the start of a significant fall in the TSLA stock price.
On a different, but sideways related note, there didn't seem to be much of a media pick-up on the fact that Elon's brother, Kimbal, sold $25M of his TSLA stock just before Elon's BTC announcement (and the subsequent fall in the stock price).
Lucky timing perhaps for K Musk...
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Great point as I did hear about Kimbal selling...he should be a trader as he might of sold the top :)
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Wish he would talk about Hive and Leo..maybe in 2 months...:)
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Oh, that would be so awesome.
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If someone with 1000 followers tweeted that a coin was over priced, and then bought in. Would that warrant an investigation? How about 100,000 followers?
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Only if they are associated with a public co...I guess.
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I think the SEC should be investigated.
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Lol...NNNNIIIIIIICCCCCEEEEE.
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I think Elon is too loose with what he says on Twitter. At a certain point I think that the SEC will investigate, or the public will slowly start losing trust for his tweets. Though he is highly influential, it is becoming apparent that his tweets are being manufactured to improve his holdings.
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Nicely said, although he did lose $30 billion on paper the last couple of days.
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Thoughts and prayers as he enters extreme poverty...
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