{"id":1440,"date":"2022-05-02T21:30:44","date_gmt":"2022-05-02T21:30:44","guid":{"rendered":"https:\/\/prendergast.net\/?p=1440"},"modified":"2022-05-02T21:30:44","modified_gmt":"2022-05-02T21:30:44","slug":"bitcoin-is-a-liquid-alternative-to-cash-says-elon-musks-tesla","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=1440","title":{"rendered":"Bitcoin Is A Liquid Alternative To Cash&#8217; Says Elon Musk&#8217;s Tesla"},"content":{"rendered":"<h1><strong>Bitcoin Is &lsquo;A Liquid Alternative To Cash&rsquo; Says Elon Musk&rsquo;s Tesla<\/strong><\/h1>\n<p>by Shawn Amick&nbsp;<\/p>\n<p><img src=\"https:\/\/proxy.feedspot.com\/a936e2b1d7093ecd23e7406c114e5973ca4e54b4\/68747470733a2f2f626974636f696e6d6167617a696e652e636f6d2f2e696d6167652f745f73686172652f4d5467304e5455344f4441344f4449784f544d7a4e54517a2f63343566643937642d356664332d346139382d396138302d3362333630386231333637662d7468652d7465736c612d6c696e6575702d666561747572696e672d7468652d6d6f64656c2d732d73656d692d332d782e706e67\/?p=4\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size:18px\">In a recent SEC filing, Tesla explained bitcoin&rsquo;s liquidity use case while outlining its &ldquo;long-term potential.&rdquo;<\/span><\/p>\n<ul>\n<li><span style=\"font-size:18px\">In a recent SEC filing, Tesla doubled-down on its bitcoin investment as &ldquo;a liquid alternative to cash&rdquo; thesis.<\/span><\/li>\n<li><span style=\"font-size:18px\">Tesla experienced a rocky path from buying bitcoin, to accepting it as payment, and later removing it as a payment method over environmental concerns.<\/span><\/li>\n<li><span style=\"font-size:18px\">Tesla also recently entered the bitcoin mining space.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size:18px\">In a recent U.S. Securities and Exchange Commission (SEC)&nbsp;<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1318605\/000095017022006034\/tsla-20220331.htm\" target=\"_blank\" rel=\"noopener\">filing<\/a>, Tesla Inc. reiterated its pro-Bitcoin position stating that bitcoin has &ldquo;long-term potential&rdquo; and is &ldquo;a liquid alternative to cash.&rdquo;<\/span><\/p>\n<p><span style=\"font-size:18px\">The filing also confirmed that the electric car maker did not sell any of its bitcoin holdings since the quarter prior.<\/span><\/p>\n<p><span style=\"font-size:18px\">During the first quarter of 2021, Tesla&nbsp;<a href=\"https:\/\/bitcoinmagazine.com\/markets\/its-happening-tesla-buys-1-5-billion-of-bitcoin\" target=\"_blank\" rel=\"noopener\">invested<\/a>&nbsp;an aggregate of $1.5 billion in bitcoin, per an SEC&nbsp;<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1318605\/000156459021004599\/tsla-10k_20201231.htm\" target=\"_blank\" rel=\"noopener\">filing<\/a>&nbsp;at the time. Within that filing, Tesla provided information explaining how the investment would &ldquo;provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.&rdquo;<\/span><\/p>\n<p><span style=\"font-size:18px\"><a href=\"https:\/\/markethive.com\/rico40\/page\/ronaldtate\" target=\"_blank\" rel=\"noopener\"><img alt=\"markerhive\" src=\"https:\/\/tse2.mm.bing.net\/th\/id\/OIP.stJXHJKy6aI6D8NodoUtmAHaEJ?pid=ImgDet&amp;rs=1\" style=\"border-style:solid; border-width:1px; height:265px; width:474px\" \/><\/a><\/span><\/p>\n<p><span style=\"font-size:18px\">Tesla also stated its intentions to accept bitcoin as a means of payment for goods and services in the future in the Q1 2021 filing. News of the investment spread across all forms of media and Elon Musk, the company&rsquo;s CEO, became more active in discussions involving bitcoin.<\/span><\/p>\n<p><span style=\"font-size:18px\">On April 26, 2021 the initial investment for means of liquidity was strengthened when Musk took to&nbsp;<a href=\"https:\/\/twitter.com\/elonmusk\/status\/1386821144037236737?s=20&amp;t=1F40PScR3zoTlGIg0B2R2g\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>&nbsp;in order to defend Tesla&rsquo;s choice to sell 10% of its bitcoin holdings during Q2 2021 stating:<\/span><\/p>\n<p><span style=\"font-size:18px\">&ldquo;Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet,&rdquo; he wrote.<\/span><\/p>\n<p><span style=\"font-size:18px\">The SEC filing referencing the aforementioned sale netted Tesla a gain of $128 million. However, in June 13, 2021 Musk capitulated to market environmental concerns as he stated bitcoin needed to use more clean energy, thereby removing the option to receive bitcoin as payment until there was verifiable information showing &ldquo;confirmation of reasonable (~50%) clean energy usage by miners with positive future trend,&rdquo; he&nbsp;<a href=\"https:\/\/twitter.com\/elonmusk\/status\/1404132183254523905\" target=\"_blank\" rel=\"noopener\">said<\/a>.<\/span><\/p>\n<p><span style=\"font-size:18px\">On October 14, 2021 it was&nbsp;<a href=\"https:\/\/bitcoinmagazine.com\/culture\/elon-musks-tesla-up-over-1-billion-on-bitcoin-investment\" target=\"_blank\" rel=\"noopener\">reported<\/a>&nbsp;that Tesla was up over $1 billion on its initial investment into bitcoin. More recently, April 8, 2022 Tesla&nbsp;<a href=\"https:\/\/bitcoinmagazine.com\/business\/blockstream-using-tesla-array-for-bitcoin-mining\" target=\"_blank\" rel=\"noopener\">announced<\/a>&nbsp;a partnership with BlockStream and Block, noting that Tesla energy equipment would be leveraged for a $12 million bitcoin mining facility.<\/span><\/p>\n<p><span style=\"font-size:18px\">In full circle, Tesla entered the bitcoin ecosystem with a massive $1.5 billion BTC buy, took action for the environment as it believed was necessary, held its BTC reserves, and returned to the ecosystem as a clean bitcoin mining participant.<\/span><\/p>\n<p><span style=\"font-size:18px\">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-<\/span><\/p>\n<p><big><span style=\"font-family:Comic Sans MS,cursive\"><span style=\"font-size:20px\"><em><strong><span style=\"background-color:#e74c3c\">Brands create promo codes&nbsp;<\/span><\/strong><\/em><\/span><\/span><\/big><\/p>\n<p><a href=\"https:\/\/www.amazon.com\/promocode\/A3UU2R62BKA0SV?ref_=assoc_tag_ph_1524210774301&amp;_encoding=UTF8&amp;camp=1789&amp;creative=9325&amp;linkCode=pr4&amp;tag=brifitbac-20&amp;linkId=8d153a3e7cdd947fd8f751d1383f235a\" target=\"_blank\" rel=\"noopener\">Save 50% on select product(s) with promo code 50GSXYCL on Amazon.com<\/a><\/p>\n<p><a href=\"https:\/\/www.amazon.com\/promocode\/A2KAUDB0C6M2PR?ref_=assoc_tag_ph_1524210774301&amp;_encoding=UTF8&amp;camp=1789&amp;creative=9325&amp;linkCode=pr4&amp;tag=brifitbac-20&amp;linkId=e002963a71d770f9d97dbc94d7da15bb\" target=\"_blank\" rel=\"noopener\">Save 42% on select product(s) with promo code 421YTUN5 on Amazon.com<\/a><\/p>\n<p><a href=\"https:\/\/www.amazon.com\/promocode\/A39LM2GVQFU4FR?ref_=assoc_tag_ph_1524210774301&amp;_encoding=UTF8&amp;camp=1789&amp;creative=9325&amp;linkCode=pr4&amp;tag=brifitbac-20&amp;linkId=bd8b9c5d721d9c90261c19f67e7987cc\" target=\"_blank\" rel=\"noopener\">Save 80% on select product(s) with promo code 80LX1XK6 on Amazon.com<\/a><\/p>\n<p><\/p>\n<p>Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin Is &lsquo;A Liquid Alternative To Cash&rsquo; Says Elon Musk&rsquo;s Tesla by Shawn Amick&nbsp; &nbsp; In a recent SEC filing, Tesla explained bitcoin&rsquo;s liquidity use case while outlining its &ldquo;long-term potential.&rdquo; In a recent SEC filing, Tesla doubled-down on its bitcoin investment as &ldquo;a liquid alternative to cash&rdquo; thesis. Tesla experienced a rocky path from &hellip; <a href=\"https:\/\/prendergast.net\/?p=1440\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Bitcoin Is A Liquid Alternative To Cash&#8217; Says Elon Musk&#8217;s Tesla<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[371],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/1440"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1440"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/1440\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}