Tesla’s new financial report confirms the head of the “Diamond Hand”

On October 21, BTC hit a record high again after a trough period of nearly half a year, reaching a maximum of US$66,999; ETH also rushed to a maximum of US$4,375.

A few hours later, Tesla founder Elon Musk returned to the topic of encryption on Twitter for a long time. He posted a connotative picture showing the towering quotations of BTC and ETH.

On the same day, Tesla released the third quarter financial report of this year, and its revenue and profitability data increased significantly. What is interesting is that the financial report shows that Tesla still holds Bitcoin , which means that Musk has complied with the promise represented by the “diamond hand” emoticon when the market plummeted on May 19th. In the crypto circle, this expression often means not afraid of market fluctuations, holding positions until the target.

According to estimates, Tesla currently holds more than 40,000 BTC, and the cost of a single currency is about 30,000 US dollars. At the current market price, its profit has exceeded 1 billion US dollars.

Musk is proud here, but investors who bought DOGE at high positions are still losing money. On October 22, DOGE quoted a price of US$0.248, a 66.5% drop from the high of US$0.74 in early May. Because Musk has repeatedly called for DOGE to promote its sharp rise, many people blame Musk for investment losses. In fact, during the skyrocketing of DOGE and other animal currencies, Musk reminded in a street interview that “no one should invest all of their wealth in cryptocurrency.”

The well-known movie “Moscow Doesn’t Believe in Tears” once expressed the theme that no one will sympathize with the weak, and one needs to become strong. Also a market investor, Musk, who doesn’t believe in tears, shows how he can become a strong man through his “Diamond Hand”, and does an investor who loses money because of his fragile mentality and drifting with the trend learn a lesson from the market?

Tesla holds over $1 billion in BTC profit

On October 21st, Tesla founder Elon Musk posted a picture on Twitter. A man buried his head in a woman’s arms and couldn’t see his expression. At this time, the screen hanging on the wall was impressively written BTC 69,000 USD and ETH 4200 USD. Musk didn’t add any text to the picture, as if he wanted to let the object understand its meaning.

Tesla's new financial report confirms the head of the "Diamond Hand"

Musk posted on Twitter

Just a few hours before the release of this tweet, BTC hit a record high in 6 months, reaching a maximum of US$66,999; ETH also rushed to a maximum of US$4,375. The two figures are the same as the price shown in the figure by Musk. Very similar.

In the comment area, onlookers began to guess what Musk wanted to express. “This man sold his Bitcoin at a low point, and when the price returned to a high point, he could only cry for comfort.” Someone speculated. Others believe that Bitcoin’s return to high after falling by more than 50% has made it difficult for men, “He is savoring the twists and turns and joy.”

No matter what Musk wants to express, this tweet sends a signal that the man who once stirred the market is back.

Looking at Musk’s Twitter, in the past two or three months, his personal dynamics have almost revolved around Tesla and the exploration of space. Crypto assets are rarely mentioned. This is the same as the frequent comments on the crypto market in the first half of the year and caused significant fluctuations. He is totally different. Looking back, Musk’s most impressive recent speech on crypto assets is “Tesla has diamond hands.” That tweet was published on May 19, when BTC plummeted to $29,000 on that day, and the “diamond hand” usually means defying market fluctuations and holding positions until the target.

Musk returned to the public opinion field of the crypto world with BTC reaching new highs. What is striking is that Tesla also announced its third-quarter financial report on the same day. The financial report shows that Tesla’s third-quarter revenue was US$13.76 billion, a year-on-year increase of 57%, and its operating profit was US$2 billion, a year-on-year increase of 148%.

According to its third-quarter balance sheet, Tesla currently holds $1.26 billion in crypto assets, which is $51 million less than in the second quarter. According to industry estimates, Tesla did not conduct any new bitcoin selling or buying operations in the third quarter. In other words, Musk and Tesla did not violate the attitude of the “diamond hand” during Bitcoin’s decline and turmoil.

Although the third-quarter financial report showed that Tesla’s crypto assets were impaired, with the recent return of BTC to above $60,000, Tesla’s investment has actually reaped huge returns. According to estimates, Tesla currently holds more than 40,000 BTC, and the cost of a single currency is about 30,000 US dollars. Now its investment has doubled and the profit exceeds 1 billion US dollars.

From the results, Bitcoin did not live up to Musk’s “diamond hand.”

Musk has shouted the single DOGE has not recovered

Tesla’s financial report is eye-catching, and the price of Bitcoin is back. Musk once again talked about the crypto market. Everything seems to be back on the eve of the “5·19” plunge.

However, many investors find encryption assets, the loss of the money did not come back, because a lot of the cottage currency price is far less than the high point of the year, such as Musk has repeatedly shouting orders dogs currency DOGE.

On October 22, DOGE quoted a price of US$0.248, a 66.5% drop from the high of US$0.74 in early May. And if it wants to return to highs, DOGE needs to rise by 198%.

Because Musk played a vital role in the earlier DOGE skyrocketing process, many investors blame Musk for their losses. Under many of his tweets, there are comments similar to “I lost all my savings by investing in DOGE.” Some people denounced Musk for profiting through market manipulation, and others begged Musk for assistance. Never responded to a similar topic.

Looking back now, Musk actually hinted at risk. He reminded in a video of a roadside interview that no one should invest all of his wealth in cryptocurrency, “but if you want to speculate and entertain on a small scale, you can still do it.” Even though he did it during the frenzy of the market. A reminder, but apparently many people did not listen to these words and suffered heavy losses.

Tesla's new financial report confirms the head of the "Diamond Hand"

Musk once prompted a risk in a roadside interview

Whether it is from Tesla’s main business operation or investment returns, Musk’s life and career are still climbing to a peak, and his life has not changed much due to the collapse of the crypto asset market in the previous stage. But for many investors who have lost most of their net worth, their lives and mentality are no longer what they used to be.

In this contrast, if you look back at the picture Musk posted on Twitter, you may understand why there are different conjectures in the comment area. Optimists and pessimists are facing the same thing. At times, they tend to taste different flavors.

There was a well-known former Soviet film called “Moscow Doesn’t Believe in Tears.” It was about the theme that in a city like Moscow, no one sympathizes with the weak, and one needs to become strong. The same is true in the volatile crypto market. Musk did not believe in tears. When the market plunged and caused panic, he put out a “diamond hand”; and relatively fragile and drifting investors eventually became disadvantaged in the market game. One side.

For investors who have lost money from investing in DOGE, this painful lesson should be an important lesson. Ironically, as Musk once again returned to the vision of the crypto world, many people again placed their expectations on him. In the Twitter comment area, many people hope that Musk will continue to shout for Dogecoin to push the price up; of course, there are also investors who are tired of his influence on the market, and what is still in their ears is that investor’s complaint. -Please stop manipulating the market.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/teslas-new-financial-report-confirms-the-head-of-the-diamond-hand/
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