Why Did Tesla Sell Some Bitcoin?_老虎社区_美港股上老虎

Why Did Tesla Sell Some Bitcoin?

TheStreet2021-04-29

Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed. Tesla's earnings call on Monday revealed that the company had sold off 10% of ...

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Johnlimwt
·2021-04-30
I don’t know but Bitcoin is gaining Popularity. I think Bitcoin is here to stay
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- Johnlimwt:
  Please lIke my post, thank you very much
  2021-04-30
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- 100EMAS:
  Cool
  2021-04-30
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RYong
·2021-04-29
Intelligent play by Tech King. [得意]
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jimann22
·2021-04-29
Generate quick profits
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Leeleegan829
·2021-04-29
👍🏻
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Hayz
·2021-04-29
Musk knows that cars can only make it peanuts...using his "influence" to find other sources of income for the company so that he can reap his options (few days ago, millions of TSLA share at $70!)
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- beankim:
  he is a smart man
  2021-04-29
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NanaK
·2021-04-29
Please reply and like my comments, thanks [微笑]
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JohnTeo
·2021-04-29
Cannot understand why need to feel betrayal? And what’s wrong with pump and dump. Ifyou are not game for it. Don’t hold.
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JTLim
·2021-04-29
Sold to take profit
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- PengsieX:
  Agreed
  2021-04-29
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BuzyWong
·2021-04-29
Good
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- b501167:
  Good
  2021-04-29
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weiyun
·2021-04-29
No matter the intention. It is only 10% of their bitcoin.If they want to pump and dump they could easily sell more than just 10% but they didnn't.
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ArkaneX
·2021-04-29
Yee
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Ninjachips
·2021-04-29
Cool
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- ArkaneX:
  okay
  2021-04-29
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- Bliang:
  Cool
  2021-04-29
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AlvinTing
·2021-04-29
reply to my comment pls
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- PeiYi99:
  Good
  2021-04-29
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Qkuca
·2021-04-29
Sometimes a bird in hand is worth two in the bush.
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- Charmzys:
  Deep
  2021-04-29
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- Eliskhy:
  Comment and like Thank youhu
  2021-04-29
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- Huathk:
  Gd
  2021-04-29
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Asim
·2021-04-29
Like and comment
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- Qkuca:
  ok
  2021-04-29
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- sgric:
  done
  2021-04-29
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Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FT_SY_XBT","symbol_name":"CBOE比特币","start_time":0,"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","article_id":"1117714229","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","pubTimestamp":1619657342,"columns":[],"sourceInfo":null,"weMediaInfo":null,"summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","collect":0,"end_time":0,"defaultTopTitle":"thestreet.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TSLA":"特斯拉","GBTC":"Grayscale Bitcoin Trust"},"translate_title":"特斯拉为什么要抛售一些比特币？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTCmain":0.9,"XBTmain":0.9,"GBTC":0.9,"TSLA":0.9},"content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":103020916,"gmtCreate":1619739786135,"gmtModify":1634210346658,"author":{"id":"3578545886341911","authorId":"3578545886341911","name":"Johnlimwt","avatar":"https://static.tigerbbs.com/a1adeee2347b67dfd778339494a5fd26","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578545886341911","authorIdStr":"3578545886341911"},"htmlText":"I don’t know but Bitcoin is gaining&nbsp;Popularity. I think Bitcoin is here to&nbsp;stay","listText":"I don’t know but Bitcoin is gaining&nbsp;Popularity. I think Bitcoin is here to&nbsp;stay","text":"I don’t know but Bitcoin is gaining Popularity. I think Bitcoin is here to stay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/103020916","repostId":1117714229,"repostType":2,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4177680,"gmtCreate":1619744999675,"gmtModify":1635507541356,"authorId":3578545886341911,"author":{"id":3578545886341911,"idStr":"3578545886341911","authorId":3578545886341911,"name":"Johnlimwt","avatar":"https://static.tigerbbs.com/a1adeee2347b67dfd778339494a5fd26","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":103020916,"type":1,"supId":0,"prevId":0,"content":"Please lIke my post, thank you very much","text":"Please lIke my post, thank you very much","html":"Please lIke my post, thank you very much"},{"id":4181681,"gmtCreate":1619777083653,"gmtModify":1635507193879,"authorId":3570479349727470,"author":{"id":3570479349727470,"idStr":"3570479349727470","authorId":3570479349727470,"name":"100EMAS","avatar":"https://static.tigerbbs.com/1a7c31b79e7bff28841c5f18dca737f4","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":103020916,"type":1,"supId":4177680,"prevId":0,"content":"Cool","text":"Cool","html":"Cool"}],"langContent":"EN"},{"id":109542323,"gmtCreate":1619706913262,"gmtModify":1634210542908,"author":{"id":"3581681008250852","authorId":"3581681008250852","name":"RYong","avatar":"https://static.tigerbbs.com/1578f159b299beaa194afc3dbdc0c690","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581681008250852","authorIdStr":"3581681008250852"},"htmlText":"Intelligent play by Tech King.&nbsp;[得意]&nbsp;","listText":"Intelligent play by Tech King.&nbsp;[得意]&nbsp;","text":"Intelligent play by Tech King. [得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109542323","repostId":1117714229,"repostType":2,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":109341526,"gmtCreate":1619668002065,"gmtModify":1634210858965,"author":{"id":"3566520187799658","authorId":"3566520187799658","name":"jimann22","avatar":"https://static.tigerbbs.com/56be210ea8b5eaefec8a4f636e3d30ec","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3566520187799658","authorIdStr":"3566520187799658"},"htmlText":"Generate quick profits","listText":"Generate quick profits","text":"Generate quick profits","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109341526","repostId":1117714229,"repostType":2,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":109357848,"gmtCreate":1619667605384,"gmtModify":1631891439835,"author":{"id":"3582082065771283","authorId":"3582082065771283","name":"Leeleegan829","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3582082065771283","authorIdStr":"3582082065771283"},"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109357848","repostId":1117714229,"repostType":2,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":109302607,"gmtCreate":1619662212009,"gmtModify":1634210910072,"author":{"id":"3576709204489965","authorId":"3576709204489965","name":"Hayz","avatar":"https://static.tigerbbs.com/d87598e3b13004920f673918b320782e","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3576709204489965","authorIdStr":"3576709204489965"},"htmlText":"Musk knows that cars can only make it peanuts...using his \"influence\" to find other sources of income for the company so that he can reap his options (few days ago, millions&nbsp;of TSLA share at $70!)","listText":"Musk knows that cars can only make it peanuts...using his \"influence\" to find other sources of income for the company so that he can reap his options (few days ago, millions&nbsp;of TSLA share at $70!)","text":"Musk knows that cars can only make it peanuts...using his \"influence\" to find other sources of income for the company so that he can reap his options (few days ago, millions of TSLA share at $70!)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/109302607","repostId":1117714229,"repostType":2,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4173265,"gmtCreate":1619707682730,"gmtModify":1635507941574,"authorId":3568042901804000,"author":{"id":3568042901804000,"idStr":"3568042901804000","authorId":3568042901804000,"name":"beankim","avatar":"https://static.tigerbbs.com/7e86bf0ae7dd84473464d6af842304eb","vip":1,"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109302607,"type":1,"supId":0,"prevId":0,"content":"he is a smart man","text":"he is a smart man","html":"he is a smart man"}],"langContent":"EN"},{"id":109921238,"gmtCreate":1619660027924,"gmtModify":1634210938227,"author":{"id":"3581817892984972","authorId":"3581817892984972","name":"NanaK","avatar":"https://static.tigerbbs.com/931ccd7616551a24c96b3410bc994a9d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581817892984972","authorIdStr":"3581817892984972"},"htmlText":"Please reply and&nbsp;like my comments, thanks&nbsp;[微笑]&nbsp;","listText":"Please reply and&nbsp;like my comments, thanks&nbsp;[微笑]&nbsp;","text":"Please reply and like my comments, thanks [微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109921238","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":109919279,"gmtCreate":1619658567491,"gmtModify":1634210962339,"author":{"id":"3574646684002399","authorId":"3574646684002399","name":"JohnTeo","avatar":"https://static.tigerbbs.com/884c031c0209150d5c4da4db425234b3","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3574646684002399","authorIdStr":"3574646684002399"},"htmlText":"Cannot understand why need to feel betrayal? And what’s wrong with pump and dump. Ifyou are not game for it. Don’t hold.&nbsp;","listText":"Cannot understand why need to feel betrayal? And what’s wrong with pump and dump. Ifyou are not game for it. Don’t hold.&nbsp;","text":"Cannot understand why need to feel betrayal? And what’s wrong with pump and dump. Ifyou are not game for it. Don’t hold.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109919279","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":109934076,"gmtCreate":1619658376595,"gmtModify":1631887960367,"author":{"id":"3574457923416240","authorId":"3574457923416240","name":"JTLim","avatar":"https://static.tigerbbs.com/d4cd2e21996d37297b06b32df8d66b04","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3574457923416240","authorIdStr":"3574457923416240"},"htmlText":"Sold to take profit&nbsp;","listText":"Sold to take profit&nbsp;","text":"Sold to take profit","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/109934076","repostId":1117714229,"repostType":2,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4166746,"gmtCreate":1619659078544,"gmtModify":1631887960381,"authorId":3578047933589423,"author":{"id":3578047933589423,"idStr":"3578047933589423","authorId":3578047933589423,"name":"PengsieX","avatar":"https://static.tigerbbs.com/ebe92821eba3b91a6431d698b66bbed5","vip":1,"currentWearingBadge":{"badgeId":"35ec162348d5460f88c959321e554969-2","templateUuid":"35ec162348d5460f88c959321e554969","name":"宗师交易员","description":"证券或期货账户累计交易次数达到100次","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"80.32%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109934076,"type":1,"supId":0,"prevId":0,"content":"<u>Agreed</u>","text":"<u>Agreed</u>","html":"<u>Agreed</u>"}],"langContent":"EN"},{"id":109933316,"gmtCreate":1619658078635,"gmtModify":1634210969989,"author":{"id":"3581502869871196","authorId":"3581502869871196","name":"BuzyWong","avatar":"https://static.tigerbbs.com/6355a4c4d4a1642e828f3dcfbcd411ce","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581502869871196","authorIdStr":"3581502869871196"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/109933316","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4166683,"gmtCreate":1619658863390,"gmtModify":1635508473421,"authorId":3579044894324834,"author":{"id":3579044894324834,"idStr":"3579044894324834","authorId":3579044894324834,"name":"b501167","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109933316,"type":1,"supId":0,"prevId":0,"content":"Good","text":"Good","html":"Good"}],"langContent":"EN"},{"id":109939275,"gmtCreate":1619658024697,"gmtModify":1634210970591,"author":{"id":"3580425558261791","authorId":"3580425558261791","name":"weiyun","avatar":"https://static.tigerbbs.com/477c415682361148f065d9de1aa8c930","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3580425558261791","authorIdStr":"3580425558261791"},"htmlText":"No matter the intention. It is only 10% of their bitcoin.If they want to pump and dump they could easily sell more than just 10% but they didnn't.&nbsp;","listText":"No matter the intention. It is only 10% of their bitcoin.If they want to pump and dump they could easily sell more than just 10% but they didnn't.&nbsp;","text":"No matter the intention. It is only 10% of their bitcoin.If they want to pump and dump they could easily sell more than just 10% but they didnn't.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109939275","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":109997999,"gmtCreate":1619657903211,"gmtModify":1634210972731,"author":{"id":"3573820729106564","authorId":"3573820729106564","name":"ArkaneX","avatar":"https://static.tigerbbs.com/3e960bba343800acd12763380b87cec5","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3573820729106564","authorIdStr":"3573820729106564"},"htmlText":"Yee","listText":"Yee","text":"Yee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109997999","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":109995470,"gmtCreate":1619657848790,"gmtModify":1634210973678,"author":{"id":"3582588150029789","authorId":"3582588150029789","name":"Ninjachips","avatar":"https://static.tigerbbs.com/84d7e26328c924be8d6b42aa48e5ed9e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582588150029789","authorIdStr":"3582588150029789"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/109995470","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4166437,"gmtCreate":1619657895656,"gmtModify":1635508494732,"authorId":3573820729106564,"author":{"id":3573820729106564,"idStr":"3573820729106564","authorId":3573820729106564,"name":"ArkaneX","avatar":"https://static.tigerbbs.com/3e960bba343800acd12763380b87cec5","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109995470,"type":1,"supId":0,"prevId":0,"content":"okay","text":"okay","html":"okay"},{"id":4166442,"gmtCreate":1619657920961,"gmtModify":1635508494356,"authorId":3573606104770883,"author":{"id":3573606104770883,"idStr":"3573606104770883","authorId":3573606104770883,"name":"Bliang","avatar":"https://static.tigerbbs.com/0d7cd18997f43a1b7035c0207a1c5872","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109995470,"type":1,"supId":0,"prevId":0,"content":"Cool","text":"Cool","html":"Cool"}],"langContent":"EN"},{"id":109995545,"gmtCreate":1619657848687,"gmtModify":1634210973799,"author":{"id":"3573353671865836","authorId":"3573353671865836","name":"AlvinTing","avatar":"https://static.tigerbbs.com/ed0f901d5fc162b9425bee2ba85b397f","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3573353671865836","authorIdStr":"3573353671865836"},"htmlText":"reply to my comment pls","listText":"reply to my comment pls","text":"reply to my comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/109995545","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4166436,"gmtCreate":1619657894651,"gmtModify":1635508494857,"authorId":3582637292455335,"author":{"id":3582637292455335,"idStr":"3582637292455335","authorId":3582637292455335,"name":"PeiYi99","avatar":"https://static.tigerbbs.com/106de96bbc6719df0070ae1f2a3daa28","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109995545,"type":1,"supId":0,"prevId":0,"content":"Good","text":"Good","html":"Good"}],"langContent":"EN"},{"id":109999768,"gmtCreate":1619657557654,"gmtModify":1634210978294,"author":{"id":"3581385014673304","authorId":"3581385014673304","name":"Qkuca","avatar":"https://static.tigerbbs.com/69a0785cbfa53d9d0452a1870c401782","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3581385014673304","authorIdStr":"3581385014673304"},"htmlText":"Sometimes a bird in hand is worth two in the bush.","listText":"Sometimes a bird in hand is worth two in the bush.","text":"Sometimes a bird in hand is worth two in the bush.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/109999768","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4166349,"gmtCreate":1619657658929,"gmtModify":1635508504186,"authorId":3576446697631224,"author":{"id":3576446697631224,"idStr":"3576446697631224","authorId":3576446697631224,"name":"Charmzys","avatar":"https://static.tigerbbs.com/6072c8259a5eabb763628fe8a558629a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109999768,"type":1,"supId":0,"prevId":0,"content":"Deep","text":"Deep","html":"Deep"},{"id":4166494,"gmtCreate":1619658088637,"gmtModify":1635508490397,"authorId":3581929369056499,"author":{"id":3581929369056499,"idStr":"3581929369056499","authorId":3581929369056499,"name":"Eliskhy","avatar":"https://static.tigerbbs.com/5bbaed9d8be2668e703feb400125ef72","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109999768,"type":1,"supId":0,"prevId":0,"content":"Comment and like Thank youhu","text":"Comment and like Thank youhu","html":"Comment and like Thank youhu"},{"id":4166502,"gmtCreate":1619658115656,"gmtModify":1635508489898,"authorId":3573472992263411,"author":{"id":3573472992263411,"idStr":"3573472992263411","authorId":3573472992263411,"name":"Huathk","avatar":"https://static.tigerbbs.com/43c7168c646d9ea6805194ed0003f1cc","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109999768,"type":1,"supId":4166494,"prevId":0,"content":"Gd","text":"Gd","html":"Gd"}],"langContent":"EN"},{"id":109999351,"gmtCreate":1619657538073,"gmtModify":1634210979026,"author":{"id":"3580880974870902","authorId":"3580880974870902","name":"Asim","avatar":"https://static.tigerbbs.com/ac8d8b0f6d3fdcd1b0e9c68c7c4b73ed","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3580880974870902","authorIdStr":"3580880974870902"},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/109999351","repostId":1117714229,"repostType":4,"repost":{"id":"1117714229","kind":"news","pubTimestamp":1619657342,"share":"https://www.laohu8.com/m/news/1117714229?lang=&edition=full","pubTime":"2021-04-29 08:49","market":"us","language":"en","title":"Why Did Tesla Sell Some Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714229","media":"TheStreet","summary":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidi","content":"<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.</p>\n<p>Tesla's&nbsp;earnings call&nbsp;on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?</p>\n<p>Tesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.</p>\n<p>\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the&nbsp;SEC filing&nbsp;that revealed Tesla had purchased Bitcoin.</p>\n<p>So why did Tesla sell?</p>\n<p>Some names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.</p>\n<p>Dave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said&nbsp;that Tesla and Musk played some sort of pump and dump on the market.</p>\n<p>\"So am I understanding this correctly?@elonmusk&nbsp;buys&nbsp;#bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1&nbsp;#Bitcoin&nbsp;but&nbsp;#bitcoin&nbsp;is exactly who we thought it was. Just don’t be last 1&nbsp;#HODLing&nbsp;the bag.\"</p>\n<p>Musk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"</p>\n<p>As the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.</p>\n<p>Another big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin&nbsp;said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"</p>\n<p>Musk simply&nbsp;replied, \"Yes.\"</p>\n<p>The company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.</p>\n<p>\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring &amp; Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&amp;D investments and other items.\"</p>\n<p>So, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.</p>\n<p>As Musk&nbsp;mentioned&nbsp;in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.</p>\n<p>\"Tesla is using only internal &amp; open source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"</p>\n<p>While Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.</p>\n<p>“We do believe long-term in the value of Bitcoin.&nbsp;It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Tesla Sell Some Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Did Tesla Sell Some Bitcoin?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of ...</p>\n\n<a href=\"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"source_url":"https://www.thestreet.com/crypto/bitcoin/why-did-tesla-sell-some-of-its-bitcoin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714229","content_text":"Tesla's intention when selling Bitcoin seems to have been a way to test the cryptocurrency's liquidity. Bitcoin passed.\nTesla's earnings call on Monday revealed that the company had sold off 10% of its Bitcoin holdings for $272 million in proceeds and $101 million in profit. This led to confusion and even a sense of betrayal among some, especially crypto-Twitter. But why did Tesla actually sell any Bitcoin?\nTesla's interest in Bitcoin in the first place seems to have been found while looking for an asset that can generate returns while remaining liquid.\n\"We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,\" said the company in the SEC filing that revealed Tesla had purchased Bitcoin.\nSo why did Tesla sell?\nSome names on crypto social media felt betrayed by the company and the recently self-proclaimed'Techno King,' Elon Musk.\nDave Portnoy, the founder of Barstool Sports who frequently has live streams of himself trading,said that Tesla and Musk played some sort of pump and dump on the market.\n\"So am I understanding this correctly?@elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.\"\nMusk quickly put the situation into perspective for Portnoy when he responded,saying, \"No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.\"\nAs the company's original SEC filing suggests, and as Musk backs up in his response to Portnoy, it seems the company sold some Bitcoin to test its theory that Bitcoin is an investable asset that can generate returns but also remain liquid.\nAnother big name in the crypto-Twitter space is Documenting Bitcoin. Documenting Bitcoin said, \"Tesla stress tested bitcoin. Did it pass, @elonmusk?\"\nMusk simply replied, \"Yes.\"\nThe company's Q1 2021 earnings report said its sale of Bitcoin had a positive impact on the company's gross margin.\n\"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in \"Restructuring & Other\" line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items.\"\nSo, Tesla's intentions behind its sale of Bitcoin seem to have been as a method to prove its use-case as a liquid and value-generating asset. The company still holds just shy of $2.5 billion worth of the cryptocurrency today.\nAs Musk mentioned in late March on his Twitter, Telsa still accepts Bitcoin for its cars, and Bitcoin used will be kept as Bitcoin and not converted to dollars.\n\"Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.\"\nWhile Tesla did sell some Bitcoin, its commitment to the crypto seems clear and ongoing.\n“We do believe long-term in the value of Bitcoin. It is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles,\" said Tesla's CFO Zachary Kirkhorn during Tesla's earnings call.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4166328,"gmtCreate":1619657570190,"gmtModify":1635508506438,"authorId":3581385014673304,"author":{"id":3581385014673304,"idStr":"3581385014673304","authorId":3581385014673304,"name":"Qkuca","avatar":"https://static.tigerbbs.com/69a0785cbfa53d9d0452a1870c401782","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109999351,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"},{"id":4168121,"gmtCreate":1619666886030,"gmtModify":1635508337524,"authorId":3575769796360828,"author":{"id":3575769796360828,"idStr":"3575769796360828","authorId":3575769796360828,"name":"sgric","avatar":"https://static.tigerbbs.com/198d8594ee7383133c0f7a33a9a49909","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":109999351,"type":1,"supId":4166328,"prevId":0,"content":"<u>done</u>","text":"<u>done</u>","html":"<u>done</u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":42,"commentSize":15,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}