Why Did Tesla Dump Its Bitcoin?

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In this video, I discuss possible reasons why Tesla sold 75% of its Bitcoin holdings.

It was probably a combination of pressure from the ESG lobby combined with cash management to make its balance sheet comps look better, and to stockpile cash due to the uncertainty surrounding China lockdowns and their effects on Tesla's Shanghai plant.

It would be great if Elon stopped talking about Bitcoin. He not only has a subpar understanding of Bitcoin (including how it uses energy), but he also has a history of pumping garbage like DOGE.

Tesla's actions are a good reminder to also pay attention to our own financial liquidity, so that we will not be forced by external circumstances to dump our Bitcoin during a bear market in order to raise fiat like Tesla did.

Not investment advice! Consult a financial advisor.

Sell Your Bitcoin, Elon:
https://www.youtube.com/watch?v=dD0Xe-CM-xM&ab_channel=TraderUniversity

Elon and DOGE:
https://twitter.com/elonmusk/status/1393738154889338884

Elon and Bitcoin energy FUD:
https://twitter.com/elonmusk/status/1392602041025843203

Tesla has diamond hands?
https://twitter.com/elonmusk/status/1395027147161489412

Q2 2022 Tesla update:
https://tesla-cdn.thron.com/static/EIUQEC_2022_Q2_Quarterly_Update_Deck_J8VLIK.pdf?xseo=&response-content-disposition=inline%3Bfilename%3D%22_022-Q2-Quarterly-Update-Deck.pdf%22

Tesla SEC filings:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001318605/000095017022000796/tsla-20211231.htm

Tesla had a realized gain on BTC sale:
https://www.youtube.com/clip/UgkxHmWCmOTHGxwIfR0z2mYlQeTwO8ciaAae

Elon's explanation for why Tesla sold some Bitcoin:
https://twitter.com/neiljacobs/status/1549873041664098308?s=27
https://twitter.com/NeilJacobs/status/1549874983278616576
https://decrypt.co/105619/elon-musk-tesla-sold-its-bitcoin-because-of-covid-lockdowns-in-china-2

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#bitcoin
#tesla
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