@Tesla #Bitcoin treasury superthread
-how many Bitcoins $TSLA currently hold
-how many they sold
-the dates of their transactions
-TSLA #Bitcoin treasury dominance
-my take on the strategy behind their #Bitcoin sale

These dates are approximations based on @tesla's announced purchase and sale dates. The purchases almost certainly occurred over many days; the dates outlined in the following tweets are the dates that the average transaction price occurred.

Tesla invested $1.5B of their $19.38B cash reserves into #Bitcoin in order to "further diversify and maximize returns on our cash."

This netted them ~43,860 $BTC around January 28, 2021. This is an approximation based on the statements and announcements made by Elon and TSLA.

On March 24, 2021, $TSLA sold 5000 $BTC at $54,400 aggregate sales price. This $272M total sale produced a net profit of $101M. This sale locked in an impressive 59.06% profit.

These figures were useful in determining the total number of #Bitcoin owned by @Tesla.

Tesla now owns approximately 38,860 $BTC at a declared net value of $1.331B. This was confusing to read, but they include no upward revisions of prices.

With ~38,860 BTC (plus the one from the Model 3 you just bought), Tesla's Bitcoin has a retail market value of $2.1B. This is in impressive 57.8% increase in value over their aggregate purchase price.

Here you can see the areas where Tesla's purchase was being made. All in all, it didn't run the market up or nuke it much. The news of the investment had the greatest effect (February 8 2021).

I hope you're able to enjoy some of this data. It was a fun challenge trying to do the detective work to determine their holdings and exact purchase dates. Likely not pinpoint accurate, but the numbers used worked out to produce that 5000.00 BTC sale without intending to do so.

I think the outcome from these tx is overwhelmingly bullish and affirming of the #Bitcoin -as-a-SOV narrative. I don't believe that the intention of the sale was to prove liquidity. Liquidity ebbs and flows in all assets, especially #Bitcoin . A sale today proves nothing tomorrow.

I will do some more diving and put some numbers together, but this fair value of $2.1B in #Bitcoin puts their Bitcoin treasury dominance of 12.25%. It makes sense that they wouldn't want to advertise this to traditional investors. *sorry, Elon et al*

Their declared value puts their #Bitcoin treasury dominance at 7.77%.

I will continue this analysis tomorrow in this thread and continue analyzing #Bitcoin treasuries in future posts. I want to understand why the disclosure says in the summary their net outflow was $1.2B here