Cuepee,

Could you please go back to the politics forum or wherever you came from?

Sincerely,
BFI

Since Tesla profited from Bitcoin can they show that in their report for earnings? Do they have to sell in order to report it?

Other income entry for unrealized gains

It would be recognized on the balance sheet under 'cash and other current assets' and be reconciled to the 'current value' at the time the Financial Statements were being done.

So if there was a gain it would be in there much like sitting on a lot of ForEx or Real Estate could cause a gain. But it will not be realized or treated as income without it being sold.

I'm wondering how you can put an unrealized gain on the balance sheet without it being income.

Yeah, you can’t. Cuepee is wrong. Crypto is treated as an intangible asset, meaning losses are recorded as impairments but gains are only reported when they’re realized— https://www.forbes.com/sites/shehanc...ap-financials/.

Has anyone figured out where on the chain are Tesla’s buys? Will anyone be able to figure out when they sell (before they announce)?

OK. Not my direct area, for sure. I used to be involved with a Canadian company that held a substantial amount of their cash on their balance in both Canadian and US funds, and I was pretty sure that they would have to look at the current conversion rate of the US funds to Canadian dollars when filing quarterlies and utilize the current exchange rate value when representing it on the balance sheet as they could not have both US and Canadian values on it.

I was assuming Bitcoin would be treated more like a foreign currency than a stock in that regard.

Interesting question. You'd have to think they're using pooled custody services. There are lots of institutional providers now.

You're still wrong about gains being on the balance sheet (if that was the correct treatment) and not being income. It's called double-entry bookkeeping for a reason.

next gen lithium battery options use far less rare earth materials. Cobalt for sure, nickel too. More. US will have options that don’t require the ccp.

DRC supplies 63% of current supply of Cobalt, so you will need cooperation from a politically unstable nation.

Also, Bloomberg estimates that global demand of Cobalt will be 47x 2017 demand. Further exploration may be warranted, but I don't need to tell you what that means.

My guess is Tesla bought bitcoin at $34K

$1.5B (purchase amount) / $34K (price) = 44.1K (# of bitcoins)

Theoretical market value @ $57K (market price now) = $2.5B

Paper gain = $1B

1. I said cobalt won't be necessary in many next-gen batteries. That means DRC is irrelevant also. Layoffs coming in the 5-13 year old range. They should probably unionize...

2. Congo owes China a lot of $, as does almost all of Africa. China is in a position of power over most rare-earth supply chains globally, cobalt included.

3. 2017 is a random, irrelevant comparison. First, Bloomberg doesn't know what future tech will be made of, or when it will enter the market, despite their best guesses. Second, it's not like cobalt use will drop to zero over night.

I have no opinion about the general cobalt market, other than what will happen in one specific (and important) market - next gen LI energy storage.

They used Coinbase OTC.

This. Cobalt has been in heavy use in desulfurization of diesel for many decades (since the 80s). Also in high strength steel and specialty applications like spark plugs
No one has ever cared. But now all of a sudden cobalt in EVs it's frontpage news.

Hypocrits. The lot of 'em.

So ummm is this it? The great reckoning? Down nearly 20% here

I wonder how the TSLA millionaires are fairing now. Actually I do know, they double down with any cash they have. One friend of mine is 100% TSLA stock or long dated options so he is down around 200K today alone on a $1.3Mil portfolio he retired on. I dunno way too much volatility for me but to each their own. Also going full solar and getting a Tesla powerwall installed for ummm reasons. We have very low power rates here, the payback will be in decades as we have no incentives at all here to bring it down.

Would you fully put your family's future and retirement in the hands of Musk, constantly tweeting about DogeCoin and in general being a shady character. I guess for some people the answer is a resounding YES

Yeah that's pretty insane. I only have a few shares, but still had puts in play that came in handy today.

That is totally irresponsible.

Imagine not allocating at least 50% to bitcoin.

When Tesla gets to 1.5T in market cap with only 600K cars sold he will be laughing at you.

Fall Tesla fall. It’s gotta get to $50 a share! I think Tesla people will panic sell. It will be a glorious collapse to normalcy.

$451 is the floor

It better burst through that floor and get lower than $400 before mid July for me to make money on my put!