<story><title>Tesla has suspended vehicle purchases using Bitcoin</title><url>https://twitter.com/elonmusk/status/1392602041025843203</url></story><parent_chain><item><author>hooande</author><text>As far as pump and dumps go, this would make a very tiny amount of money for a company of Tesla&amp;#x27;s market cap. In another post someone said they made $270MM from selling bitcoin in Q1. On a market cap of close to $590B. And they can only really do that trick a few times at most.&lt;p&gt;I have no idea what the true motivation for Tesla accepting bitcoin was. But I would be surprised if a publicly traded company took this much risk for such a relatively small amount</text></item><item><author>Arcuru</author><text>If TSLA has already dumped their Bitcoin, Elon just pulled off a highly lucrative pump and dump scheme.&lt;p&gt;1. Buy $1.5 billion in BTC&lt;p&gt;2. Announce TSLA will accept BTC, with the knowledge that very few people will actually do that, and public support from a major company will drive up the price of BTC.&lt;p&gt;3. Sell off your BTC at the higher price. A portion was sold in Q1 for a hefty profit already.&lt;p&gt;4. Rinse and repeat with DOGE?&lt;p&gt;The environmental impact was well known before they bought it, so it&amp;#x27;s a little odd that they&amp;#x27;d reverse course because of that.</text></item></parent_chain><comment><author>heavyset_go</author><text>Tesla&amp;#x27;s Q1 operating profit of $594M was slightly less than the sum of their $101M Bitcoin profit and the $518M regulatory credits they received[1].&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;old.reddit.com&amp;#x2F;r&amp;#x2F;dataisbeautiful&amp;#x2F;comments&amp;#x2F;n0jxyt&amp;#x2F;teslas_first_quarter_visualized_oc&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;old.reddit.com&amp;#x2F;r&amp;#x2F;dataisbeautiful&amp;#x2F;comments&amp;#x2F;n0jxyt&amp;#x2F;tes...&lt;/a&gt;</text></comment>
<story><title>Tesla has suspended vehicle purchases using Bitcoin</title><url>https://twitter.com/elonmusk/status/1392602041025843203</url></story><parent_chain><item><author>hooande</author><text>As far as pump and dumps go, this would make a very tiny amount of money for a company of Tesla&amp;#x27;s market cap. In another post someone said they made $270MM from selling bitcoin in Q1. On a market cap of close to $590B. And they can only really do that trick a few times at most.&lt;p&gt;I have no idea what the true motivation for Tesla accepting bitcoin was. But I would be surprised if a publicly traded company took this much risk for such a relatively small amount</text></item><item><author>Arcuru</author><text>If TSLA has already dumped their Bitcoin, Elon just pulled off a highly lucrative pump and dump scheme.&lt;p&gt;1. Buy $1.5 billion in BTC&lt;p&gt;2. Announce TSLA will accept BTC, with the knowledge that very few people will actually do that, and public support from a major company will drive up the price of BTC.&lt;p&gt;3. Sell off your BTC at the higher price. A portion was sold in Q1 for a hefty profit already.&lt;p&gt;4. Rinse and repeat with DOGE?&lt;p&gt;The environmental impact was well known before they bought it, so it&amp;#x27;s a little odd that they&amp;#x27;d reverse course because of that.</text></item></parent_chain><comment><author>onlyrealcuzzo</author><text>$270MM was &amp;gt;60% all of Tesla&amp;#x27;s $480MM Q1 profit.</text></comment>