TESLA loses a billion plus dollars betting on bitcoin

[Bigmurph6]

So I reported this to the community

Tesla revealed it had piled into Bitcoin in early February when it let the SEC know in a filing on February 8th that it had purchased $1.5 billion in Bitcoin as part of its corporate treasury strategy.

This backfired hard against Elon Musk he lost a billion plus + dollars because Tesla stock went up and people sold a ton of Tesla stock and by the time they sold off the bitcoin and leveled out Teslas stock Elon had lost over a billion dollars of his own money.

This is what has been reported

Elon Musk revealed he had bought USD 1.5 billion worth and that his company, Tesla, was planning to accept the crypto for its products. Days later, the bitcoin market surged past a record USD 1 trillion, valuing each unit at more than USD 55,000. But it wasn’t long before jittery investors dumped both Tesla stocks and bitcoin, shaving a mind-blowing USD 15 billion off Musk’s net worth.

CRAZY OUCH

I just thought I would warn that bitcoin can pay or take away be careful
Banned

 

[Poppy]

That’s crazy. Can’t imagine

 

[Bigmurph6]

If he really lost 15 billion that’s crazy.

Even crazier is that he was going to sell Teslas for btc. That’s great but I guess didn’t workout he should have just bought bitpay it would have been cheaper lol

 

[Poppy]

I’m thinking to those super wealthy it’s all a game and the dollar figure is just a way to keep score. It’s not like he’s got to buy store brand vodka til next paycheck.

 

[Bigmurph6]

Lol its so true if you can drop 15 billion and not flinch crazy

He can also flee the planet if needed lol
He isn’t going to be claiming bankruptcy

 

[Poppy]

He can also flee the planet if needed lol

Now that’s funny! It’s true!

 

[PNWmuscle]

Man the crazy thing though with the ultra rich, this likely won’t affect him or his lifestyle one bit.

 

[Rusty]

No It won’t unless he makes the same mistake a few more times

 

[Bigmurph6]

One mistake could take everything away that would be crazy definitely not good for him lol

 

[JLee]

No risk no reward! But with that kind of money it’s probably very little risk. His accountant is probably writing it off now.

 

[Bigmurph6]

He wont pay taxes for the rest of his life