I don't know why a car company is investing in digital assets and its CEO hasn't been flamed by the shareholders for it.
Shareholders are busy being excited about the company's pivot to fast food.
Did Tesla sell it to Elon or xAI by any chance?
Stockholders can buy their own Bitcoin whenever they feel like it, relying on a corporation to do it for them just triggers Corporate Income Tax before the normal Capital Gains Tax.
But I doubt the stockholders care about basic stuff like that.
A lot of strange behaviour on the stock market seems to more or less be "a large enough fraction of investors are bad at math". Crypto buying is one of them: buying and holding cryptocurrencies seems to drive up the market cap of a company by more than the cryptocurrencies they are buying (even if they issue more shares to pay for it), so why wouldn't any random company just take the free money?
As one of the few things one can say about Bitcoin investments, is that it’s probably best to not buy any, if your going to do that, if you don’t have at least a four year horizon.
It’s not a trivial dynamic.
whom did it sell it to? buying cheap bitcoin ahead of an expected rally…
tactical
Remeber No one knows about Bitcoin better than Elon Musk and Trump.