In early February, Tesla followed MicroStrategy and purchased Bitcoin. They didn’t just dip their toes, they dove right into the Bitcoin pool. It wasn’t a surprise that Tesla bought Bitcoin as Elon was hinting at it on Twitter, but what was a surprise was that Tesla purchased $1.5 billion in Bitcoin. Tesla also said it might invest more of its cash in digital assets, gold bullion, gold exchange-traded funds and other assets, leaving the door open for Tesla to purchase more Bitcoin.
In May of last year, Elon made headlines after he tweeted that Tesla's share price was too high, causing an instant $60 drop in price. Three months later, Tesla’s stock was 9% higher than the $330 tweet price.
Elon was up to his old tricks again this past Friday, when he tweeted the Bitcoin price was too high.
Tesla initial investment in Bitcoin is already up $1 billion. The paper profits is more than what Tesla sold in cars 2020. So the question is did Elon tweet Bitcoin was too high, so he could buy more Bitcoin?
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So the question is did Elon tweet Bitcoin was too high, so he could buy more Bitcoin? Apparently someone bought the dip as price is now trading $5k above the today's low of $48k.