Tesla Could Take a Big Loss on Its Bitcoin Bets

Michelle Ong
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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  • LouisLowell
    ·2022-06-16
    The stock price has changed, not the fundamentals of the company.
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  • ElvisMarner
    ·2022-06-16
    Is Tesla going to split its stock in the next few days?
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  • Maria_yy
    ·2022-06-16
    Maybe Musk needs to rethink.
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  • BellaFaraday
    ·2022-06-16
    We should be greedy when others are fearful.
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  • DonnaMay
    ·2022-06-16
    Only a dip gives you a good chance to buy it.
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  • EvanHolt
    ·2022-06-16
    Don't worry, now is the time to buy TSLA.
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  • MortimerDodd
    ·2022-06-16
    It should not have invested in bitcoin.
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  • BurnellStella
    ·2022-06-16
    Tesla has had a bit of bad news lately.
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  • tidehunter
    ·2022-06-14
    okay
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  • HappyTrade
    ·2022-06-14
    OK
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  • cleverbest
    ·2022-06-14
    nice
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  • Oswald Ng
    ·2022-06-14
    Ok
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  • Milliamwong
    ·2022-06-14
    看看
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  • ZenInv
    ·2022-06-14
    Repeated
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  • rockets
    ·2022-06-14
    ok
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  • Pila
    ·2022-06-14
    [Smile]
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  • MSTAN
    ·2022-06-14
    👌👌
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  • Maxcrusader
    ·2022-06-14
    Ok noted
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  • Dinvester
    ·2022-06-14
    Cool
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  • Biggoldenpig
    ·2022-06-14
    ok
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