Tesla, Microstrategy stocks react
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$118,232.00
1.15%$3,162.69
5.92%$2.93
2.44%$691.59
1.55%$164.09
2.29%$0.999903
0.01%$0.198701
3.66%$3,161.01
5.90%$0.300964
0.67%$0.746227
3.27%$47.79
-0.10%$118,031.00
1.10%$0.460863
3.31%$3.99
2.25%$3,815.82
5.72%$16.22
4.87%$0.235003
1.83%$499.24
1.89%$21.95
5.35%$3,387.66
5.81%$8.85
-1.70%$0.00001368
5.31%$3.11
4.73%$3,162.22
5.96%$96.31
3.78%$0.999839
0.02%$0.99919
-0.16%$44.55
-1.99%$4.11
5.85%$331.11
-2.13%$118,367.00
1.30%$9.26
2.48%$0.00001296
6.67%$1.00
0.05%$4.65
6.62%$332.71
5.33%$441.87
5.52%$0.445729
-1.23%$5.18
6.33%$0.108326
3.91%$2.68
5.74%$1.18
0.09%$0.945983
5.39%$19.51
7.97%$5.55
4.75%$47.54
0.82%$1.00
0.00%$199.54
2.33%$0.282794
3.01%$0.00003133
5.97%$0.719362
0.49%$0.00671591
13.52%$0.088737
5.74%$0.359838
8.18%$0.999651
-0.06%$0.02514912
4.85%$0.434798
8.29%$4.69
4.64%$0.368531
6.49%$0.233228
3.86%$0.03232119
9.91%$3.90
5.44%$0.762536
10.61%$4.49
-0.10%$3,162.02
5.82%$9.52
4.25%$15.93
2.04%$1.059
0.02%$1.074
5.36%$2.63
4.90%$117,944.00
0.58%$0.079133
2.14%$113.33
3.13%$174.20
2.38%$0.522146
7.66%$4.77
1.21%$1.66
10.79%$3,315.20
5.93%$3,602.07
5.87%$11.65
1.40%$0.999915
0.01%$0.998273
0.04%$1.97
7.49%$1.00
-0.03%$1.31
1.71%$4.42
2.82%$13.17
7.86%$0.809549
5.39%$0.077791
5.01%$0.710814
9.95%$0.01738719
1.99%$1.21
-4.40%$3,321.93
5.91%$3,397.79
6.11%$0.364337
6.57%$117,795.00
0.88%$0.999987
0.01%$1.67
2.71%$0.791325
10.20%$1.08
8.03%$3,332.50
5.82%$3,416.09
5.90%$0.103157
5.91%$0.539021
4.88%$0.999385
-0.12%$0.00009939
4.04%$118,056.00
1.03%$3,344.13
-0.61%$1.11
-0.01%$119,923.00
1.11%$691.31
1.52%$0.152022
1.18%$0.557465
2.72%$26.42
18.19%$0.224238
4.51%$184.12
2.23%$0.999657
0.04%$2.44
2.87%$0.833963
7.06%$0.922598
9.16%$3,337.05
-0.66%$214.53
2.36%$0.01680768
7.19%$0.01773728
6.30%$2.92
5.27%$0.314561
4.54%$0.865761
6.50%$9.15
83.09%$0.280581
4.69%$44.41
5.63%$10.75
0.03%$111.81
0.01%$0.122751
5.90%$3,398.10
6.27%$0.0000007
1.93%$3,163.75
6.01%$0.653514
4.12%$1.91
2.78%$4.09
4.52%$0.998182
-0.00%$3,294.65
6.57%$0.999788
0.00%$2.06
6.86%$0.01887199
4.26%$117,907.00
0.82%$0.391429
-6.23%$0.464436
4.99%$0.400807
4.94%$1.094
0.22%$0.00000161
-0.38%$0.317709
3.94%$3,166.06
6.03%$0.00649667
13.95%$0.00877621
1.44%$29.66
15.11%$0.997803
-0.00%$116,988.00
0.29%$3.09
4.04%$0.057657
9.01%$0.55416
4.09%$118,207.00
1.16%$1.57
3.32%$47.69
-0.17%$3,161.49
5.88%$0.074766
8.33%$0.66692
5.31%$0.103554
5.16%$47.42
-0.69%$0.14481
7.10%$0.372381
7.49%$0.999763
-0.03%$0.198933
3.71%$0.477553
7.55%$1.00
0.04%$0.50517
0.03%$1.16
0.03%$0.998556
0.07%$3,361.38
5.76%$0.00835097
7.59%$7.45
7.78%$0.64316
7.80%$0.230961
1.69%$0.19037
2.22%$50.22
6.02%$1.26
13.24%$0.432286
2.23%$1.49
14.90%$0.392913
7.90%$3,493.36
6.01%$6.54
5.23%$15.97
6.07%$0.00000045
0.43%$0.00002218
7.77%$7.68
2.34%$0.059889
11.51%$2.58
6.63%$3,461.59
5.87%$0.004199
4.19%$0.00599736
10.87%$1.093
0.01%$1.001
-1.04%$0.999904
0.01%$0.155533
6.51%$3,158.35
5.69%$0.04154248
5.43%$117,996.00
1.13%$0.084466
7.77%$1.002
0.12%$0.87063
9.84%$0.557085
2.56%$1.61
6.54%$3,164.04
5.98%$3,147.00
5.42%$0.00735396
9.61%$0.999975
0.00%$1.36
-0.83%$4.50
17.01%$0.365351
5.39%$0.373077
2.78%$0.03673698
2.19%$0.360713
0.94%$0.01872252
1.25%$3,819.46
5.81%$0.539948
5.50%$134.81
6.95%$118,112.00
1.07%$0.03338429
10.51%$0.00006315
1.95%$11.92
3.48%$179.61
2.44%$21.26
2.95%$0.757646
8.18%$0.854514
6.84%$26.71
5.45%$0.233218
4.21%$0.99985
0.02%$1.14
3.99%$0.789652
3.55%$21.97
5.43%$0.00383347
3.01%$0.690669
10.61%$0.99959
-0.06%$0.999527
0.04%$3,319.42
5.92%$0.999388
0.03%$0.99964
0.02%$0.485822
2.14%$6.93
5.41%Bitcoin whales like Tesla and MicroStrategy are all down on their investments today after the leading cryptocurrency plummeted again overnight, hitting a low of $26,350.
The last time the leading crypto was this cheap was in December 2020, according to CoinMarketCap.
Prices have since risen sum and Bitcoin is now trading at $28,387.
Despite the minor rise, this effectively wipes out all of the gains made by Tesla's Bitcoin bet.
In early 2021, his electric car company Tesla invested $1.5 billion in Bitcoin at an average purchase price of $31,620. Tesla then sold off 10% of its Bitcoin holdings to test liquidity, earning a tidy profit, or “positive impact,” of $101 million just over a month later, according to an SEC filing.
Musk didn’t sell any more Bitcoin throughout 2021’s wild bull run, despite prices hitting an all-time high of $68,789.63 on November 10, 2021.
Now, Bitcoin’s current price is roughly 10% lower than the price Tesla paid for it. The company has 42,000 Bitcoin left on its balance sheet, worth about $1.19 billion.
Michael Saylor's Microstrategy is also underwater today following the volatile price action.
Since August 2020, his cloud software company has bought 129,218 Bitcoin at an average price of $30,200 a coin. At that price, Microstrategy’s Bitcoin holdings are worth $3.9 billion.
Today’s Bitcoin crash means Saylor’s Bitcoins are currently worth $3.6 billion.
Contrary to the maximalist doctrine that Bitcoin is a store of value akin to “digital gold,” the currency has actually been trading more like a tech stock, according to a report published on April 18 by Arcane Research.
Today, MicroStrategy's stock is also plummeting. At today’s price of $148, MicroStrategy shares are currently down 11.5%.
Tesla stock dropped 4% overnight and currently trades for $734.
Elsewhere, crypto-adjacent companies like Coinbase, PayPal, and Robinhood have also dropped 23%, 3%, and less than 1%, respectively.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.