Did Tesla Book Loss with Bitcoin ?

Tesla is again in the news because Elon Musk has confirmed that Tesla has sold out their major holding recently and because of this Bitcoin had also been facing a price drop even when it was in recovery mode. This year 2022 has not been doing well for the Bitcoin and cryptocurrency market because in the last six months we have seen two major events that have contributed to the big price drop in the market. The first one was about Luna which has contributed very well to bring the market down and the second one seems like the selling done by Tesla company which was announced by elonmusk a few days back and since then there have been many discussions going on in crypto space.

One of the biggest questions that almost everyone is asking that if Tesla booked loss with this Bitcoin sale which I don't think is possible because the land is a businessman and he knows what is the right time to book the profit. He is very well aware that he has the power to influence the market and he has done the same many times in the past. There are mixed opinions about this topic some people are saying that Tesla has sold 75% of their holding in Bitcoin because of the cash crunch in the balance sheet and booked loss in the market to have a better picture of financials but some people also say that the company did not book any property. Obviously whatever is shared in the media is the only information we are aware of and not sure what actually has happened here.

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Bitcoin price dropped below the 19,000 U.S. dollar price mark and when it started recovering back to 24k USD plus then Elon Musk all of sudden comes and shared this news. I am surprised about the timing because he knows what is the right time to post a tweet and then things just go another way round which actually he expects the same. Somewhere I feel like he is in a state where people can either love him or hate him but they cannot ignore him because he's a popular businessman celebrity as of now across the world. Elon Musk likes to be in the news and this way he is surely part of the trending news. Now I feel like the deal which he announced sometime back for Twitter was also a marketing stunt whereas he wanted to be the attention of international media and I believe he was successful with this.

As per Elon Musk, he is still holding all the dogecoins and even he has not given up on Bitcoin because in the future he will surely think of buying and this sale was just two add some financial value to the balance sheet. I believe anyone we'll do the same whoever thinks that he has a good influence on the crypto market because of his popularity so we cannot blame him because he knows whatever is the best for his business and what can give him great returns on the investment and somewhere I believe he is doing the same and good as a businessman.

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In my opinion, the company did not book any loss instead they have sold these bitcoins at a higher price which has caused the price drop so they are in good profit but not sure how much it is. Even though the amount is not clear but one thing is confirmed for sure the company has earned a very good amount on the investment in Bitcoin and now looks like Elon is trying to manipulate the price so that he can buy again this Bitcoin at a low price.

The current situation of Bitcoin is surely not good but I believe if you have a long-term vision then you can surely go for the investment through dollar cost averaging and this way you will be able to accumulate more quantity while keeping the average by price at the lower side. Crypto is here to stay and all these things are happening not for the first time and even not for the last time so just ignore it and keep on accumulating as much as you can.

Thank you.

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