Hacker News Reader

or it is a hedge against a market downturn as gold is "not cool" to buy from Tesla and cash should be invested if not used.

Bitcoin dropped 55% in March 2020 vs S&P500 dropping 35%. You'd lose more with this hedge than without.

Tesla dropped even more (180->72) and since then it is hyped even more even so it still doesn't make profit from it's core business.

And since then lot of people hyped the bitcoin.