It will be interesting to see if today's Bitcoin buying affects the stock price much.
It is definitely an expensive stock but it does have a strong market position at the moment.
You are viewing a single comment's thread from:
It will be interesting to see if today's Bitcoin buying affects the stock price much.
It is definitely an expensive stock but it does have a strong market position at the moment.
Yeah, it's hard to tell... it seems to have mainly bounced around the range it was already in. I have to imagine that since around 7% of their cash reserves are now in Bitcoin then if/when other companies start to put their own cash reserves into the Bitcoin ecosystem then Tesla's "cash" position will look stronger and the market will value their shares more. There are estimates that they've currently made half a billion in the BTC price rise since the time (people are guessing) they bought in.
Pretty good quick return on their BTC investment !
Posted Using LeoFinance Beta