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Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC

 
Anonymous Coward
User ID: 80073096
United States
02/22/2021 03:16 PM
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Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
[link to finance.yahoo.com (secure)]


Tesla's (TSLA) investment in Bitcoin (BTC-USD) has garnered the electric vehicle company about $1 billion in profits — at least on paper, according to estimates from Wedbush Securities Managing Director Dan Ives.

"That’s more than all they made on EV vehicles in 2020, but that continues to be the double-edge sword. It’s going to add risk to the story, and we’re seeing that in terms of the volatility," Ives told Yahoo Finance Live on Monday.
Anonymous Coward
User ID: 79578855
Canada
02/22/2021 03:26 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
It's impossible to convert bitcoin to cash.

Everybody is selling nobody is buying.
AkashicRecord®

User ID: 73046022
United States
02/22/2021 03:28 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
It's impossible to convert bitcoin to cash.

Everybody is selling nobody is buying.
 Quoting: Anonymous Coward 79578855


I cashed out and it worked for me...

I came back later and put 20% back in.

Last Edited by AkashicRecord® on 02/22/2021 03:31 PM
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Anonymous Coward
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Latvia
02/22/2021 03:31 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
It's impossible to convert bitcoin to cash.

Everybody is selling nobody is buying.
 Quoting: Anonymous Coward 79578855


If no one is buying, why is BTC at 50k and climbing every week? I am no market genius but price going up generally means people are buying.
Anonymous Coward
User ID: 77743360
Sweden
02/22/2021 03:52 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
It's impossible to convert bitcoin to cash.

Everybody is selling nobody is buying.
 Quoting: Anonymous Coward 79578855


If no one is buying, why is BTC at 50k and climbing every week? I am no market genius but price going up generally means people are buying.
 Quoting: Anonymous Coward 78887571


It's a fair question, here's your answer:

A shady business named Tether creates special tokens called "tethers" out of thin air and claims they're "backed by dollars" (without showing any evidence whatsoever they're backed by anything), then it buys bitcoins with these tokens instead of with dollars.

That's your supposed buying pressure right there. Whipped up from thin air.

How can this be allowed, you ask. Isn't this fraudulent or something?

Why of course it is! The entire crypto economy is one swindle stacked on another!
Anonymous Coward
User ID: 79908903
United States
02/22/2021 03:55 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
It's impossible to convert bitcoin to cash.

Everybody is selling nobody is buying.
 Quoting: Anonymous Coward 79578855


Your post makes no fucking sense

If they can't convert BTC to cash...how the fuck are they selling?
Anonymous Coward
User ID: 76579674
Australia
02/22/2021 03:57 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
STFU Opie.
AkashicRecord®

User ID: 73046022
United States
02/22/2021 04:47 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
STFU Opie.
 Quoting: Anonymous Coward 76579674


banhim
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Anonymous Coward
User ID: 78259353
United States
02/22/2021 04:56 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
Meth Cartel money laundering
Anonymous Coward
User ID: 69987138
United States
02/22/2021 04:56 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
It's impossible to convert bitcoin to cash.

Everybody is selling nobody is buying.
 Quoting: Anonymous Coward 79578855


I cashed out and it worked for me...

I came back later and put 20% back in.
 Quoting: AkashicRecord®


Your cashout of .03 BTC is not what they are talking about
Anonymous Coward
User ID: 80077710
United States
02/22/2021 04:59 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
so... slush funds are cryptic?
prettystupid

User ID: 11150628
United States
02/22/2021 05:02 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
It's impossible to convert bitcoin to cash.

Everybody is selling nobody is buying.
 Quoting: Anonymous Coward 79578855


You sir have no idea what you're saying. There are dozens of platforms to exchange your cryptocurrency for government backed money, fiat, us dollar, whatever you want to call it.
prettystupid
AkashicRecord®

User ID: 73046022
United States
02/22/2021 05:35 PM
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Re: Tesla Scores $1,000,000,000 in Profits Buying Bitcoin BTC
It's impossible to convert bitcoin to cash.

Everybody is selling nobody is buying.
 Quoting: Anonymous Coward 79578855


I cashed out and it worked for me...

I came back later and put 20% back in.
 Quoting: AkashicRecord®


Your cashout of .03 BTC is not what they are talking about
 Quoting: Anonymous Coward 69987138


More than that.. A few thousand was no problem, but if you tried to liquidate a few million, that might turn some heads...
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