Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, GC, SI & Bitcoin
Posts: 4,058 since Dec 2013
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I disagree that it was an investment (its rampant speculation) or that it was a smart thing. Tesla is company that loses money making cars, and only makes money by selling regulatory credits. They've flirted with insolvency several times in the last few years. Thankfully by some manipulation by their CEO (eg "Am thinking of taking Tesla private at $420, Funding secured" etc) and due to some additional funding at sky high prices due to a continued squeeze, they now sit on a pile of cash. Speculating that on Bitcoin is not where I think their focus should be. Where's the governance?
Now that is very interesting. $33k is basically year end. If you remember Bitcoin started going crazy right at Christimas. If they averaged $33k they must have started buying before that. Wonder if they were the driving force behind the Xmas/New Year move. Wonder if their Q4 earnings were effected by it in anyway?
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This is the first think I though when I saw the news. What's going on???
Producing BTC is disastrous on an environmental point of view, it's main real usage is to pay ransom to pirates who froze hospitals IT services, and it's using computing power which could be more useful somewhere else.
On an ethical point of view this thing is a disaster. At some point people will figure it out, hopefully.
Just like I never trade tobacco stocks I'll stay far away from trading BTC .
Success requires no deodorant! (Sun Tzu)
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