Now we need another data analysis. We will use the data of an anonymous analyst to explain whether Tesla has made a loss in holding Bitcoin.
What we need to pay attention to is that if the price of Bitcoin drops to the level of $30,000, will Tesla’s board of directors force Elon Musk to sell Bitcoin?
If so, will it cause Bitcoin to fall further? In any case, this is just our guess.
So let’s first look at the data. According to Nunya Bizniz’s Twitter published on July 14, 2021, “Tesla acquired $1.5 billion worth of Bitcoin on February 8, 2021. At that time, the average Bitcoin The price was $35,150, and the total number was 42,674. After that, 10% of them were sold at a price of $2.72, leaving 38,406 bitcoins with a risk exposure of $1.228 billion and a current value of $126 million.
As we have seen, Tesla is currently on the verge of making a decision . Previously, Tesla sold 10% of its holdings for $272 million “to test the liquidity of Bitcoin” and profited from it.
The current price is only slightly lower than the average price they paid for Bitcoin of $35,000. In any case, Tesla currently owns approximately 38,406 Bitcoins.
It is believed that Elon Musk is partly responsible for Bitcoin’s recent price action . When Tesla announced that they had invested in Bitcoin, the price went up wildly. When they announced that they would no longer accept Bitcoin as payment, the price of Bitcoin plummeted.
However, correlation is not causation. Does Tesla really have such a big influence on Bitcoin? This is just a guess.
On June 13, 2021, Elon Musk pointed out on his Twitter, “(Tesla’s statement that it sold Bitcoin) is inaccurate. Tesla only sold about 10% of the share to confirm that it can change Bitcoin is easily liquidated under the market conditions . When the future miners confirm the reasonable (about 50%) use of clean energy, Tesla will resume allowing Bitcoin transactions.”
In our report to Bitcoinist, we pointed out that “As Bitcoin has risen by nearly 15%, Musk’s cautious optimism on this major crypto has encouraged investors’ sentiment.
Musk confirmed that Tesla only sold 10% of the shares to’confirm that Bitcoin can be easily liquidated without affecting the market. ‘A few hours after he tweeted, Bitcoin soared from $35,000 to $40,000. “
We also reported that another influence of Tesla on Bitcoin seems to have begun. “Ironically, the data from Glassnode indicates that when Tesla announced the purchase of Bitcoin, the Crypto market started a trend. From 2021 From February to the most recent crash, the supply held by entities holding 100 or 1,000 bitcoins increased exponentially.
In other words, from the day when Elon Musk’s company entered the Crypto market, Bitcoin whales have been accumulating at a faster rate . “
There is no clear evidence for these two situations, but the trend is clear. Tesla’s behavior seems to be related to the price of Bitcoin in many ways.
If the above price falls below the 30K dollar line, Tesla may be inclined to sell, then everything may collapse.
However, these are just speculations.
If Elon Musk has a “skin” bonus in the Crypto game, why does he play with the price of Bitcoin?
No one knows exactly the reason, but there are relevant comments everywhere. Catherine Wood of Ark Investments is one of Tesla’s biggest supporters and shareholders. She once pointed out:
“What I have seen is that after Musk took a pro-Bitcoin position, he was opposed by internal shareholders such as BlackRock.”
Larry Fink screamed on the issue of climate change: I think Elon Musk did not expect this. But I think he will come back to support Bitcoin as a payment method for Tesla.
According to the notorious Max Keiser, Tesla’s CEO and the “bitcoin rookie” made the same mistake. According to this statement, our similar website NewsBTC concluded that:
” When an idol collides with Bitcoin with a subversive idea, it will be immediately attracted to try to fix the flaws of Bitcoin. Elon Musk is not the first and will not be the last. Every great bit in the world Coin thinkers have such a stage, which makes them mistakenly believe that Bitcoin is a bit outdated.
Eventually, they will realize that Bitcoin is not so much a technology as a miracle. Economic incentives are where they belong, and it is a machine with the potential to improve everyone’s world . “
In any case, Tesla still holds approximately 38,406 BTC, valued at approximately US$126 million.
Elon Musk still claims that his company is a staunch supporter of Bitcoin and will not sell it. The price of Bitcoin is more than $30,000, and Tesla has hardly suffered a loss. There is nothing to worry about.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/data-analysis-how-much-is-the-bitcoin-held-by-tesla-now-worth/
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