Dave And Elon Musk (Kind Of) Go At It On Twitter Over #Bitcoin After Tesla's Earnings

Today was $TSLA earnings day for the 1st quarter of the new year. The electric car company returned great numbers as they beat their earnings estimates:

A lot of their overall revenue came from their investment into Bitcoin...

SOURCE-After putting bitcoin on its balance sheet earlier this year, electric vehicle maker Tesla sold off $272 million of its holdings. Its Q1 2021 earnings report shows the sum under "proceeds from sales of digital assets."

Tesla first bought $1.5 billion in BTC in February of this year, according to a disclosure filing with the Securities and Exchange Commission. Crypto exchange Coinbase facilitated the purchase. The $272 million sale would leave at least $1.33 billion in BTC on Tesla's balance sheet according to the price at the Feb. 8 transaction. At this point that figure would be higher given price movements, but filing rules don't allow for Tesla to adjust the figure to the upside.

(Side note: Nothing to see here. Probably nothing.....)

Dave, who bought back into Bitcoin today, commented on this move by Elon Musk and Tesla:

To which Elon responded:

Based on some basic assumptions, Elon does not appear to be lying. Tesla converted 1.5 billion US token into Bitcoin at some point in January...let's say they did that on January 20th...the price of BTC was 36k US token. With Bitcoin's price being at 54k right now, Tesla would have seen an increase of 50% on their holdings, meaning they theoretically then had 2.25 billion in Bitcoin when they sold off 272 million of it for their Q1 earnings, which is just over 10% of its Bitcoin holdings. Not a bad play by Tesla:

Now back to Dave and Elon, which honestly should be a podcast.

Nice to see that Dave is back in the Bitcoin game after exiting in the fall of 2020. For those a bit confused with the lettuce stuff, a new saying in the crypto community is lettuce hands (soft). This came to us via Jason Williams: