2021 BRN Discussion, page-9390

"Elon saying Tesla wont accept bitcoin as payment means sweet f*** all in terms of the price of btc, do people honestly think that tesla purchases make up a significant amount of btc transactions???"

The Tesla effect on the price of bitcoin has nothing to do with how many bitcoin Tesla owns.

Tesla buying shares

When a name of a household known innovator such as Musk publicly validates bitcoin by saying Tesla own shares that very confirmation/validation will affect the share price. "If it's good enough for Elon, it's good enough for me".

Tesla no longer accepting bitcoin
Again, nothing to do with the number of bitcoin owned by Tesla. When a name of a household known innovator such as Musk publicly declares bitcoin no longer an accepted form of currency, it will affect the share price. "If it's not good enough for Elon, it's not good enough for me".

The reality

Musk cares about the planet and the environment so I'm guessing he does care about carbon foot print, but also, I think it's partly (or mostly) a commercial decision. Elon's war chest of analysts have probably come to the conclusion that Bitcoin will suffer some short term pain and so Tesla would rather take payment in cash rather than bitcoin given their huge R&D expenditure and upcoming cash burn in building gigafactories and expanding the rollout of their EV across the world, which their suppliers will request cash for, not bitcoin.

Key takeaway of this post
Tomorrow is Friday. It's almost the weekend. Have a red wine with your dinner tonight. Why not?