I wonder if Tesla buying $1.5B in BTC and being in the S&P has just made BTC selloffs causing market selloffs less of a prophecy and more of a reality.
BTC holdings are ~68% of balance sheet, ~34% of market cap, and MSTR is 0% of SPX
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Sure, but BTC is down 4% today and MSTR is down 21% today.
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Again it's way too new on Tesla to even make a correlation trend, but it wouldn't be farfetched to assume that investors on meme stocks react strongly to hints of a BTC drop.
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(very rough numbers, based on some assumptions and projections from their 2020 balance sheet)
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