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.
$97,500.00
2.75%$3,407.47
3.63%$2.26
3.85%$667.21
2.49%$186.03
-0.76%$0.325706
9.45%$1.00
0.06%$3,403.03
3.44%$0.926997
8.60%$0.246033
2.72%$38.87
6.38%$22.96
6.09%$4,020.95
2.90%$4.73
15.27%$5.34
2.64%$0.00002228
10.21%$97,203.00
2.70%$33.01
25.20%$0.361801
4.91%$7.15
7.74%$0.257082
1.19%$3,404.45
3.43%$452.40
8.17%$9.33
1.39%$13.43
12.17%$101.09
7.75%$0.00001783
12.38%$3,592.12
3.42%$5.17
4.39%$4.33
3.90%$1.00
0.38%$9.84
-6.64%$1.00
0.06%$10.59
9.99%$308.54
4.88%$0.163334
5.43%$0.486984
7.27%$1.20
4.48%$26.48
3.63%$7.38
9.89%$0.046669
10.15%$3.85
2.77%$191.39
10.10%$24.47
0.07%$470.41
6.45%$1.32
6.07%$0.771765
5.88%$1.10
11.62%$5.05
7.51%$0.121819
-0.49%$1.028
10.55%$0.337367
7.38%$44.98
1.81%$2.67
17.16%$6.75
6.23%$1.72
3.34%$1.74
2.81%$1.82
5.51%$1.41
5.50%$0.00003145
13.00%$5.12
7.69%$0.979351
25.66%$2.19
17.27%$21.46
7.24%$3,403.51
3.35%$0.213516
6.59%$97,473.00
2.71%$2.02
9.16%$0.02944916
14.91%$0.435881
6.85%$2.27
7.62%$5.15
4.06%$3,511.01
3.47%$0.998157
0.28%$3,803.95
3.34%$0.0001723
7.67%$0.03425554
9.19%$13.15
6.86%$113.21
9.74%$20.04
17.11%$3,589.61
3.52%$1.75
10.70%$0.03671636
12.83%$0.02772367
2.01%$97,368.00
2.55%$1,652.03
2.32%$0.02773782
10.80%$3.32
0.14%$1.00
0.04%$0.575775
10.49%$0.375548
6.21%$11.28
6.18%$1.36
4.50%$0.226102
3.10%$1.29
12.30%$0.131394
8.07%$97,245.00
2.59%$4.44
6.48%$3,503.86
3.66%$0.817071
7.75%$6.96
6.40%$190.54
-0.33%$35.51
4.38%$1.63
12.90%$0.850058
3.40%$0.076016
12.62%$0.722296
7.57%$0.492064
5.57%$16.64
3.46%$54.45
5.81%$0.299789
7.25%$1.50
7.25%$0.936356
5.58%$0.00000108
5.66%$231.25
-1.04%$1.11
5.76%$0.81886
10.73%$14.28
4.89%$6.31
11.43%$35.07
9.13%$0.487201
7.26%$0.484875
6.46%$96,419.00
1.09%$96,968.00
2.63%$5.18
13.23%$1.17
7.86%$53.36
17.96%$3,403.09
3.40%$0.839766
-33.02%$3.89
1.08%$2.99
0.84%$0.00000208
-3.30%$3.24
6.05%$0.08679
8.29%$0.719575
10.33%$3,410.69
3.61%$0.162139
6.36%$0.273195
5.20%$0.998474
0.30%$0.760187
5.43%$0.619018
7.22%$0.791134
32.03%$82.24
8.96%$198.86
-0.39%$3,406.49
3.38%$1.93
5.08%$2.40
4.79%$1.57
11.99%$0.00003522
5.88%$2.06
1.32%$266.38
8.29%$21.34
3.84%$0.00676598
9.31%$1.50
7.20%$0.325155
8.85%$0.00793763
4.96%$96,582.00
2.21%$0.758962
7.36%$0.181022
6.10%$0.00649925
7.03%$0.647649
7.46%$2,632.87
0.66%$0.995485
0.18%$0.643939
3.78%$5.76
7.68%$3,588.76
3.56%$0.0001142
12.94%$0.01148462
13.76%$3,689.63
3.41%$2.48
12.23%$1.28
-5.54%$0.00
16.42%$0.0084338
9.84%$18.42
2.23%$3,408.32
3.46%$1.097
12.64%$0.083592
6.12%$10.97
6.74%$26.73
6.07%$0.00631261
9.18%$0.266532
5.54%$0.394295
7.73%$1.31
16.95%$0.077456
-0.34%$1.021
0.67%$0.999954
0.06%$97,656.00
2.79%$1.28
11.27%$2,630.36
0.80%$14.14
17.65%$9.04
-10.41%$96,607.00
3.06%$0.00000052
2.92%$1.51
1.83%$3,340.29
0.43%$0.052268
19.64%$0.500654
17.09%$1.002
0.33%$31.26
14.88%$0.0108909
9.37%$3,407.79
3.38%$4.85
5.48%$0.437004
9.15%$0.00621174
15.07%$97,220.00
2.73%$0.293698
61.45%$0.060812
5.76%$37.29
7.70%$1.071
0.47%$3,662.23
3.55%$0.00249963
11.24%$3,548.03
3.25%$0.064964
6.39%$0.00563357
11.31%$0.00636119
6.97%$2.08
7.51%$0.0009977
9.35%$0.02131632
9.90%$0.072158
2.28%$0.996805
0.45%$3.15
4.91%$5.22
4.76%$1.081
0.11%$0.225332
9.31%$0.00000318
7.23%$88.20
1.01%$0.464409
5.61%$0.210896
6.15%$1.00
-0.03%$24.79
30.57%$2.48
-0.55%$3,745.48
3.99%$0.00000018
6.23%$0.671968
8.84%$0.03772126
3.99%$0.893422
4.06%$1.002
0.15%$0.367813
52.41%$3.42
8.33%$0.138333
2.79%$2.89
-2.86%$45.87
6.49%$3,402.31
3.28%$0.03581203
7.88%$0.01065465
8.32%$0.356436
4.01%$3,593.54
3.26%$0.720622
12.05%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.