Tesla Selling BTC: A Bullish Sign?

The Tesla news says more about Tesla's performance than BTC. They did not maintain gross margin with their increase in revenue. They resorted to selling BTC to make up for what would have been a weak earnings report on high sales.

25% of their net income came from realized crypto gains. That's not a good look for a manufacturing company but it's a great look for the power of appreciating BTC and its liquidity.

Not negative news at all for BTC. Tesla would not have met Wall Street's expectations without realized crypto gains.

THE BREAKDOWN:

Wall Street expected Tesla to report EPS of 79 cents. Tesla reported $438 million net income. It sold bitcoin to realize $100 million in gains. This means 23% of Tesla's earnings were from BTC. This also means that without it, their 93 cents per share would have dropped 23% to 72 cents per share. Without BTC, Tesla would have failed to meet Wall Street's expectations.

submitted by /u/OpticallyMosache
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