Tesla Could Take a Big Loss on Its Bitcoin Bets

2022-06-14

Tesla Motors

-0.57%

Tesla’s (NASDAQ:TSLA) big bet on Bitcoin (BTC-USD) is beginning to look like a blunder amid a violent crash for cryptocurrencies.

While adding Bitcoin (BTC-USD -14.6%) in early 2021 looked like a wise decision throughout the year and even into early 2022, the tables have turned rather quickly in recent months. The price of Bitcoin specifically has fallen just over 50% in the current quarter, which bodes poorly for Tesla’s (TSLA -7.1%) upcoming quarterly report.

With shares down nearly 50% year to date, bookended by an over 7% drop on Monday, the Bitcoin issue adds yet another headwind to contend with as a number of adverse impacts bear down on the Austin-based automaker.

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Comments

LouisLowell
2022-06-16
LouisLowell
The stock price has changed, not the fundamentals of the company.
ElvisMarner
2022-06-16
ElvisMarner
Is Tesla going to split its stock in the next few days?
Maria_yy
2022-06-16
Maria_yy
Maybe Musk needs to rethink.
BellaFaraday
2022-06-16
BellaFaraday
We should be greedy when others are fearful.
DonnaMay
2022-06-16
DonnaMay
Only a dip gives you a good chance to buy it.
EvanHolt
2022-06-16
EvanHolt
Don't worry, now is the time to buy TSLA.

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