If I was the richest person in the world I would hope I could afford to make some funny jokes if I felt like it.

Sometimes he plays high level mindgames, people take him literally when he actually is making some elaborate joke going over their heads. Well jokes on them. For example when he said “Tesla stock price is too high imo”, he tweeted it at 8:11am on 5/1. Split 5:1 was announced on 8/11. NTs think that the tweet was proof that Elon thought Tesla market cap was overvalued and sold, while Elon actually meant that price for an individual share was too high and they needed to split the shares and gave a hint that only autists could figure out so they bought. And later when the split was announce the share price increased and autists got richer and NTs got poorer.

Because of his history he knows that wall street will analyze every tweet he makes. Suddenly they will have to learn about anime, scifi books, random physical properties etc to try to figure out if he was just shitposting or if there was a hidden message. And clearly he can move the market, just see what happens to the price of Dogecoin when Elon tweets some doge meme.

IIRC there was an episode of Person of Interest that noted this.

“I’ve gone on record already saying the stock prices have been high, and that was well before the current level. But also if you ask me, do I think if Tesla will be worth more than this in five years? I think the answer is yes.

He did mean the actual price of shares was too high, but he also has agreed that the market cap is too high as well.

If Elon's intention was for someone to figure out that there would be a split on August 11, then he is not very smart as that's a ridiculous suggestion.

If he says that he thinks that the price will be higher in five years then clearly he doesn’t think that the current market cap is too high. But yeah, it requires that you have a basic understanding of logic 101 and are somewhere on the spectrum.

I placed my first option trade ever: 1 JUL 16 2021 400 Put with $12.80 in a limit order.

1280 / (1280 + 40000) = 3.1% odds needed for company bankruptcy
1280 / (1280 + 25000) = 4.9% odds needed for a panic selloff to $150

The great thing about the put over short sell is if there is some weird ass rally that goes up 4x and then crashes I won't have to cover the position like I would in a short sell.

Tsla bought 1.5b bitcoin

I only read a few short articles and didn't see it, but does anyone know the timing of the buy? Was it during the last few days or over the prior month?

I guess right about the time he tweeted ‘it was inevitable’

The article said January, I don't think we'll ever know the exact timing. It was probably over a period time given how much volume that is. Would be interested to know if the timing lined up with the large rise in January.

This is the exact opposite of good management btw. The volatility of TSLA is already very high. This means the company treasury *should* want to take less risk. Now they are adding a volatile asset to their treasury amounting to 15% of their last two $10B raises this year. That's insane. Selling shares when the price was ATH a few months ago was a great idea to raise cash. Dropping a sizable portion of that into a risky asset is very dumb.

Seems like an easy way to hide losses.

"Where'd all the money go?"

"Bitcoin"

"Oh"

Ya i am not making an argument for or against hyperloop but the arguments in those video's seem like almost the exact same ones as to why EV's could not and would not succeed.

The '...both of these technologies date back to the early 1900's but only one evolved into viable technology...'is being used as an argument the hyperloop just as it was over the same time frame for EV's.

they'll probably just raise again. they are basically raising all the time anyway with the amount of stockbased comp.
and honestly they should do that as long as people pay 850 bucks for the shares. they know it's not worth that. just look at insider selling. the core business is basically scraping by. they don't need money for another factory.
just raise and invest in something else over and over again.

they sell shares to buy bitcoin. management knows the company best and tells you at $850 they'd rather have bitcoin than their own shares. why would anyone buy or hold shares at $850 instead of bitcoin then?

Is this the biggest corporate buy of bitcoin ever?
If not, biggest of a company not active in financial sector?

I think it's just a play to create even more silly hype from the retail investors? You now also invest in crypto if you buy Tesla!

So clearly the incessant pumping of crypto the last few weeks before disclosure of holding said crypto is a coincidence right? SEC I'm sure thinks so

^^ it's even better. He tried to lower the price first

It's a pump designed to distract from the 10-k results released today.

Financial institutions have been buying Bitcoins to facilitate transactions and I'd guess the likes of JPM have stealthily scooped up a ton of bitcoin. PayPal also almost certainly is holding a ton, on behalf of its customers if nothing else.

Tesla's a con game of creating an aura of unlimited possibility and endless upside and New Big Thing just around the corner. Bitcoin certainly helps that aura. It helps chumps press the buy button.

https://www.youtube.com/watch?v=CyNtwHoXC9w

Not sure if this has been posted yet, but at 2:15 his explanation seems very idealistic. I don't think that is necessarily a problem except when it is the only factor, but when he says it doesn't matter what the number is, I feel like it is actually a sales pitch to get people to buy the stock and not to think about the actual dollar amount.


As far as Tesla buying Bitcoin, it seems like it could just be buying more time to prevent a massive sell off.

Is a company allowed to buy and sell shares whenever it wants or does it only have this option every quarter?

For a con game they're putting out an awful lot of good product.

it's an 18-year-old company with <1% of global market share...

Yeah, their growth rate is not even impressive. Compare it to Bitcoin and Tesla seems like Buffet’s last decade.

I wouldn't trust anything Chamath says at this point. He is basically a high level scam artist now.