Cue crypto market crash 🤣
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Exiting before the plebs, as expected...
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Unsubstantiated theory:
Elon Musk has a substantial personal Bitcoin investment. Buying it via Tesla (7.7% of cash reserves) & announcing it, pumps up his investment, gets others to buy. He'll exit the private one w/big profits, long before plebs.
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Nope, this is simply wrong. There is plenty of evidence that he's just not about the money. Love him or hate him, and whether or not you think he's an asshole or immoral, he's really about bigger things than money.
I thought it was broadly known Tesla BTC involvement was a way of making money off of waitlist refunds- ie if you cancel a preorder made with BTC, then
If BTC went up-> they refund you in the original dollar value in $
If BTC went down-> they refund you in the original BTC coins
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Tactics are not intent. Just because you deal smartly with financial decisions doesn't mean you're solving for maximizing money. They'd be dumb not to do things like that if they have the freedom to.
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That may be true, but the tremendous energy use of Bitcoin was no secret. Certainly not to Elon. Besides balance sheet upside/hedging, was it just one utopian dream (solar) conflicting with another (defi libertarianism)?



