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Tesla's bitcoin value dives; Musk signals hold with '

Tesla s bitcoin value dives; Musk signals hold with ‘diamond hands’ tweet
Reuters | May 19, 2021 11:10 PM EDT
Representations of virtual currency Bitcoin are seen in front of Tesla logo in this illustration (Photo : REUTERS/Dado Ruvic/File Photo)
The market value of Tesla Inc s bitcoin holdings have fallen by half to $1.26 billion, close to the electric car maker s purchase cost, as the cryptocurrency s value plunged following a crackdown by the Chinese government.
Shares of Tesla Inc were 3% lower on Wednesday afternoon, down more than broader U.S. market indices. Chief Executive Elon Musk signaled that the company still is not selling, tweeting symbols for diamond hands https://twitter.com/elonmusk/status/1395027147161489412 to his 55.3 million followers. ....

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Tesla's bitcoin value dives; Musk signals hold with âdiamond handsâ tweet

Tesla s bitcoin value dives; Musk signals hold with âdiamond handsâ tweet
By Hyunjoo Jin, Sinéad Carew and Akanksha Rana
Reuters
(Reuters) -The market value of Tesla Inc s bitcoin holdings have fallen by half to $1.26 billion, close to the electric car maker s purchase cost, as the cryptocurrency s value plunged following a crackdown by the Chinese government.
Shares of Tesla Inc were 3% lower on Wednesday afternoon, down more than broader U.S. market indices. Chief Executive Elon Musk signaled that the company still is not selling, tweeting symbols for diamond hands https://twitter.com/elonmusk/status/1395027147161489412 to his 55.3 million followers.
Diamond Hands is a symbol used frequently on Reddit signaling the intention to stubbornly hold on to a stock or other asset. ....

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Tesla Made More Money On Bitcoins Than By Selling Cars: Here's What Happened

Tesla Made More Money On Bitcoins Than By Selling Cars: Here's What Happened
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

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Tesla edges past Wall Street target as bitcoin sales, environmental credits boost revenue

5 Min Read
(Reuters) -Electric carmaker Tesla Inc marginally beat Wall Street expectations for first-quarter revenue on Monday boosted by a jump in environmental credit sales to other automakers and liquidating some bitcoins.
Tesla posted record deliveries in the first quarter despite a global chip shortage that has slammed auto sector rivals, but its profit was not driven by auto sales.
Tesla, which had invested $1.5 billion in bitcoin, trimmed its position by 10% during the quarter, said Chief Financial Officer Zachary Kirkhorn. Tesla said proceeds from sales of digital assets amounted to $272 million with a $101 million “positive impact”.
“We do believe long term in the value of bitcoin,” he said. “It is our intent to hold what we have long term and continue to accumulate bitcoin from transactions from our customers as they purchase vehicles.” ....

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Tesla sees growth on track as China, bitcoin boost revenue

5 Min Read
(Reuters) -Electric carmaker Tesla Inc marginally beat Wall Street expectations for first-quarter revenue on Monday boosted by a jump in environmental credit sales to other automakers and liquidating some bitcoins.
Tesla posted record deliveries in the first quarter despite a global chip shortage that has slammed auto sector rivals, but its profit was not driven by auto sales.
Tesla, which had invested $1.5 billion in bitcoin, trimmed its position by 10% during the quarter, said Chief Financial Officer Zachary Kirkhorn. Tesla said proceeds from sales of digital assets amounted to $272 million with a $101 million “positive impact”.
“We do believe long term in the value of bitcoin,” he said. “It is our intent to hold what we have long term and continue to accumulate bitcoin from transactions from our customers as they purchase vehicles.” ....

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