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Notices by web3 is going just great (web3isgreat@indieweb.social)

web3 is going just great (web3isgreat@indieweb.social)'s status on Wednesday, 01-Feb-2023 10:01:24 JST web3 is going just great

Tesla lost $140 million trading Bitcoin in 2022
January 31, 2023https://web3isgoinggreat.com/?id=tesla-lost-140-million-trading-bitcoin-in-2022
In conversation Wednesday, 01-Feb-2023 10:01:24 JST from indieweb.social permalink
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1. Tesla lost $140 million trading Bitcoin in 2022 Elon Musk's $1.5 billion Bitcoin bet at Tesla turned out to be a bad deal. He sunk the funds into Bitcoin in January 2021, when Bitcoin was trading between $30,000 and $40,000. Simultaneously, he announced that Tesla would begin accepting Bitcoin — an announcement that was quickly reversed when someone apparently pointed out to Musk that Bitcoin is an environmental nightmare. Tesla sold most of its Bitcoin in Q2 2022, following the grand crypto tradition of buying high and selling low. Now, according to SEC filings, Tesla suffered a net loss of $140 million in 2022 thanks to the gamble. Their reported $64 million in trading profits were eclipsed by their $204 million loss. Tesla still holds somewhere around 11,000 BTC.
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web3 is going just great

only some of the many disasters happening in crypto, defi, NFTs, and other blockchain-based projects • created by @molly0xfff

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