Tesla no longer accepts Bitcoin due to climate impact

Post by alismayilov » Thu, May 13, 2021, 8:24 AM UTC

Negitivefrags wrote: post #46

arcticbull wrote: post #10

So far, Elon/Tesla: 1. Bought a bunch of Bitcoin. 2. Announced they were going to accept Bitcoin, sending the price up. 3. Sold a bunch of Bitcoin to pad out otherwise poor earnings, citing their goal of "testing liquidity of the market." 4. Announced they were going to stop accepting Bitcoin, sending the price plummeting. As though he didn't know the environmental impact a week ago? As though he didn't check for liq…

When Tesla announced the initial move they received a huge amount of push back for the environmental concerns. And it didn’t look good for an EV company of all things. There is a trend I’ve seen of a company making a decison, everyone hating on them for it, then they reverse the decision, and they are still criticised. If a company turns around and reverses a decision citing the very reasons they were criticised for…

Post by iso1210 » Thu, May 13, 2021, 8:25 AM UTC

rvz wrote: post #39

arcticbull wrote: post #10

So far, Elon/Tesla: 1. Bought a bunch of Bitcoin. 2. Announced they were going to accept Bitcoin, sending the price up. 3. Sold a bunch of Bitcoin to pad out otherwise poor earnings, citing their goal of "testing liquidity of the market." 4. Announced they were going to stop accepting Bitcoin, sending the price plummeting. As though he didn't know the environmental impact a week ago? As though he didn't check for liq…

Yes. A very clever plan, executed to perfection. We don't know the price point of the BTC they bought at the time but it is likely to be somewhere around $30,000 - $40,000 and then they announced it to cause a run up close to $60,000 and then sold some of it for a >$101m profit. Now they somehow 'stop accepting Bitcoin' causing BTC to go down 12%. These same institutions are NOT interested in hodling. They are here t…

Post by epgui » Thu, May 13, 2021, 8:26 AM UTC

asddubs wrote: post #64

Negitivefrags wrote: post #46

Earlier quoted context omitted.

When Tesla announced the initial move they received a huge amount of push back for the environmental concerns. And it didn’t look good for an EV company of all things. There is a trend I’ve seen of a company making a decison, everyone hating on them for it, then they reverse the decision, and they are still criticised. If a company turns around and reverses a decision citing the very reasons they were criticised for…

The problem is that you can't really take a company at face value if they reverse course after having already profited from their "lapse in judgement". The parent post lined out potential motivations behind all this that IMO aren't really that outlandish. It's speculation, but it's not some outlandish crackpot theory

Post by Broken_Hippo » Thu, May 13, 2021, 8:26 AM UTC

cvak wrote: post #14

lwhi wrote: post #2

I see this as market manipulation. Tesla hasn't suddenly become aware of information not available when Tesla initially announced they'd accept bitcoin as payment.

Well, they might saw the backslash in environmentalist community, that used to be their main supporters. That's imo a pretty big sudden information.

Post by rokot » Thu, May 13, 2021, 8:26 AM UTC