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No. of Recommendations: 1
1. He buys 1.5B in bitcoin
2. Claims Tesla will accept Bitcoin
3. Bitcoin goes up
4. Sells Bitcoin
5. Says Tesla won’t accept Bitcoin because “environment “

It’s classic pump and dump. He’s no innocent.

Google “Elon manipulate market “ and a slew of articles pop up.


Oh, there are lots of accusations, but it's all baseless. If you look at the timeline of BTC price changes and Tesla actions you'll see it isn't nearly so linear.

Note that "4. Sells Bitcoin" was in truth sells 10% of Bitcoin. So if it's a "classic pump and dump" then Tesla made a rather hilarious rookie mistake. And, in any case, these were actions of Tesla, not Musk, which makes it even less likely.

This story is the sort of knowledge you acquire through bad sources with no verification. You can look at Tesla's quarterly report (https://www.sec.gov/Archives/edgar/data/1318605/000095017021...) for the truth of the matter.

Note 3 – Digital Assets, Net
During the three months ended March 31, 2021, we purchased and received $1.50 billion of bitcoin. During the three months ended March 31, 2021, we recorded $27 million of impairment losses on bitcoin. We also realized gains of $128 million through sales during the three months ended March 31, 2021. Such gains are presented net of impairment losses in Restructuring and other in the consolidated statement of operations. As of March 31, 2021, the carrying value of our bitcoin held was $1.33 billion, which reflects cumulative impairments of $27 million. The fair market value of bitcoin held as of March 31, 2021 was $2.48 billion.


-IGU-
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