No Result
View All Result
Monday, February 6, 2023
  • Login
LiveBetPro - Soccer Betting Tips, Crypto Casino, Crypo Exchanger
  • Home
  • Crypto Casinos
    • Best Cryptocurrency Casinos
  • Bookmakers
    • Top Online Bookmakers 2023
  • Exchanges
    • Best Cryptocurrency Exchanges
    • Best Crypto Derivatives Exchanges [2023]
    • 9 Best Bitcoin Exchanges
    • Bybit Review
    • Binance Review 2023
    • Coinbase Review [2023]
    • Gate.io Exchange Review [2023]
    • KuCoin Review 2023
    • BitYard Review [2023]
  • Scripts Bots
    • Seuntjies DiceBot
  • Betting Tips
  • Promotions
  • Contact Us
No Result
View All Result
  • Home
  • Crypto Casinos
    • Best Cryptocurrency Casinos
  • Bookmakers
    • Top Online Bookmakers 2023
  • Exchanges
    • Best Cryptocurrency Exchanges
    • Best Crypto Derivatives Exchanges [2023]
    • 9 Best Bitcoin Exchanges
    • Bybit Review
    • Binance Review 2023
    • Coinbase Review [2023]
    • Gate.io Exchange Review [2023]
    • KuCoin Review 2023
    • BitYard Review [2023]
  • Scripts Bots
    • Seuntjies DiceBot
  • Betting Tips
  • Promotions
  • Contact Us
No Result
View All Result
LiveBetPro - Soccer Betting Tips, Crypto Casino, Crypo Exchanger
No Result
View All Result
Home Cryptocurrency Price analysis and Prediction

Elon Musk’s Tesla faces $440 million loss on its BTC holdings while whales continue to dump

LiveBetPro by LiveBetPro
July 4, 2022
in Cryptocurrency Price analysis and Prediction
1
FXStreet
190
SHARES
1.5k
VIEWS

(Ekta Mourya – FXStreet)

– Bitcoin price plummets below $20,000 yet again, pushing automotive manufacturer Tesla towards a $440 million writedown on BTC holdings. 

– Tesla accumulated $1.5 billion in Bitcoin in 2021, however the car manufacturer’s bet turned into a loss during the crypto bloodbath. 

– Whales are depositing Bitcoin to exchanges rapidly, fueling an increase in selling pressure. 

The electric car manufacturer faces a dire fate as its Bitcoin holdings further devalue amidst a market rout that is seeing whales readying to sell by rapidly pouring their Bitcoin onto crypto exchange platforms. Tesla is already facing a $440 million writedown of its Bitcoin holdings after the recent crypto market bloodbath, and could face even more. 

Related articles

LunaTerra

LUNA holders watchout: Investigation in the Terra collapse catches investors off guard

July 21, 2022
FXStreet

Solana’s new daily address growth outpaces other blockchains, SOL jumps

July 20, 2022

Tesla prepares to record impairment on Bitcoin holdings

Bitcoin price has slipped below $20,000, hitting an 18-month low. This is bad news for Tesla which bought $1.5 billion of Bitcoin in 2021. The move has garnered a backlash from investors as the company is heading towards a writedown. Part of Tesla’s cash reserves were moved into cryptocurrency, however, the decision backfired as Bitcoin price crashed in the recent crypto bloodbath. 

Tesla recorded the value of its Bitcoin holdings at $1.26 billion three months ago. The actual market value of Tesla’s holdings at the time was close to $2 billion, however, it could not register these gains on its investments, as they were unrealized (they had not yet been sold), in line with accounting practices. 

With the recent slump in Bitcoin price (to the $19,000 level), on the final day of Tesla’s second financial quarter, however, the company’s holdings are now worth an estimated $820.8 million. Elon Musk’s Tesla is therefore likely to record an impairment on its Bitcoin holdings of around $440 million, 9% of the car company’s annual profit in 2021. 

When Tesla reports its quarterly results in July 2022, it is likely to make this announcement and take a writedown of $440 million on its big Bitcoin bet. 

Bitcoin addresses underwater surpassed March 2020 record

Based on data from crypto on-chain firm Glassnode, the weekly moving average number of unique Bitcoin addresses at a loss hit a peak of 18.8 million on July 3, 2022. Data revealed that the average Bitcoin holder was hit by the worst monthly loss since 2011 in the current bloodbath. 

FXStreet

Analysts at CryptoQuant reveal that the Whale Ratio metric, an indicator that reveals the selling behavior of large wallet investors, points towards a Bitcoin price bottom soon. Whale Ratio metric is calculated by dividing bitcoin’s top 10 inflows to exchanges by all the inflows in a single day. High values of the metric indicate price fluctuations. 

The analyst noted that whales are rapidly depositing their Bitcoin holdings to cryptocurrency exchanges and realizing massive losses. Bitcoin price is therefore likely to find a bottom soon and for the next bullish cycle to then begin. 

Analysts predict Bitcoin price could bleed further

Analysts at FXStreet evaluated the Bitcoin price chart and revealed that the asset wants to plummet below $18,817, its seven-day low. For more information and key price points to watch out for, check this video:

Post Views: 173

Related posts:

ethereumEthereum continues to underperform while movement remains uncertain Polkadot-DOT-Price-AnalysisPolkadot (DOT) Price Analysis: June 8 2022 solana-logoSolana remains below $40: What to expect? ethereum-logoEthereum retains $1800: Is $2K next? dogecoin-gradually-moves-downwards-what-to-expectDogecoin gradually moves downwards: What to expect? Solana-price-analysis12062022Solana bleeds heavily: No signs of relief Dogecoin breaks above 0.06Dogecoin breaks above $0.06 after a 6% price surge: What’s next? Why Investors Are Keeping ADA in Their Sights Over the WeekendWhy Investors Are Keeping ADA in Their Sights Over the Weekend
Tags: Analysts predict Bitcoin priceautomotive manufacturer TeslaBTC holdingscrypto bloodbathElon Musk’s Tesla

Related Posts

LunaTerra

LUNA holders watchout: Investigation in the Terra collapse catches investors off guard

by LiveBetPro
July 21, 2022
0

(Ekta Mourya - FXStreet) - LUNA price posted nearly 9% losses after South Korean authorities raided the offices of fifteen...

FXStreet

Solana’s new daily address growth outpaces other blockchains, SOL jumps

by LiveBetPro
July 20, 2022
2

(CoinDesk Analysis Team) Active wallets on the Solana network grew 58% this year, outpacing some other blockchains despite a market-wide...

FXStreet

Shiba Inu price steals the spotlight as SHIB bulls take charge

by LiveBetPro
July 20, 2022
2

(Akash Girimath - FXStreet) - Shiba Inu price has sustained its recent breakout from a  bullish pennant, hinting at an...

FXStreet

Here is not one but three reasons why Solana price could revisit $25

by LiveBetPro
July 19, 2022
2

(Akash Girimath - FXStreet) - Solana price looks ripe for a reversal from a liquidity objective perspective. - Rejection at...

FXStreet

Dogecoin price makes its bullish case, but will DOGE bulls come through?

by LiveBetPro
July 18, 2022
3

(Akash Girimath - FXStreet) - Dogecoin price shows a healthy flip of the $0.062 resistance barrier into a support level....

Load More
  • Trending
  • Comments
  • Latest
freebitco-Multiply BTC

Freebitco Review – Discover Multiple Ways To Earn Free Bitcoins

June 4, 2022
earn-free-bitcoins-daily-without-investment-2022

How can I get free bitcoin without investment [2022]?

July 2, 2022
Are-Your-Investments-Safe-with-Crypto-Trading-Bots

Are Your Investments Safe with Crypto Trading Bots?

June 8, 2022
faucet-main

What Are Crypto Faucets ?

May 23, 2022
bitcoin

Bitcoin

115
Ethereum

Ethereum

57
How-To-Use-Crypto-Online-Gambling-Websites

How To Use Crypto Online Gambling Websites

44
8-Tips-On-How-To-Make-Money-Sports-Betting

8 Tips On How To Make Money Sports Betting

44
bitcoin

Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

February 3, 2023
bitcoin

Bitcoin bulls must reclaim these 2 levels as the ‘death cross’ still looms

February 3, 2023
bitcoin

Bitcoin, S&P 500 close in on bullish ‘golden cross’ signal

February 2, 2023
crypto

Here’s why India held on to older crypto reforms in the national budget 2023

February 2, 2023

Connect with LiveBetPro.com

telegram twitter

Now online

livebetpro

Livebetpro Information

Address: Ho Chi Minh City, Vietnam, 70000

Contact Us:

– Skype: fxvnpro
– Email:
livebetpro@gmail.com
admin@livebetpro.com

Payment Methods

– Webmoney
– Perfect Money
– Skrill
– Neteller
– Bank Wire
– Bitcoin

Disclamers

Any promotions, reviews, and other information in the website are just for the information purpose only.

There is no invitation or encouragement to invest in Casinos, Bettings, Cryptocurrencies and so on. We disclaim liability for any loss resulting from the use of information contained on this website.

The published comments are private opinions or feedback of the users. Livebetpro is not responsible for any information on the website.

Risk Warning

Please be aware of your investment into bettings/casinos/cryptos which is high risk and not suitable for everyone.

Recent Posts

  • Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher
  • Bitcoin bulls must reclaim these 2 levels as the ‘death cross’ still looms
  • Bitcoin, S&P 500 close in on bullish ‘golden cross’ signal
  • Here’s why India held on to older crypto reforms in the national budget 2023
  • Bitcoin UTXOs older than five years surged during bear market
  • If Ethereum withdrawals are enabled today $1.5 billion in ETH would be on the move, here’s why this matters
  • Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto rally built on house of cards, collapse imminent
  • ARK makes coinbase buy as coin jumps 20% on-week
  • Ethereum Shanghai hard fork and token unlock: A complete guide to unstaking ETH
  • LTC/USD – Forecasting the wave (five) within the second dimension correlation

Categories

  • Affiliate Programs
  • Betting Tips
  • Bitcoin
  • Blockchain
  • Blockchain Gaming
  • Crypto
  • Crypto Casinos
  • crypto lending platform
  • Crypto Mining
  • Crypto Trading
  • Crypto Trading Bots
  • Crypto Wallets
  • Cryptocurrency Price analysis and Prediction
  • DeFi
  • Earn Free Crypto
  • Ethereum
  • Exchanges
  • Faucets
  • Investment News
  • NFT
  • Promotions
  • Ripple
  • Scripts Bots
  • sport betting
  • USDT
  • Web3
  • XRP
  • About
  • FAQ
  • Contact Us

© 2022 by LiveBetPro.

No Result
View All Result
  • Contact Us
  • Homepages

© 2022 by LiveBetPro.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Warning: array_sum() expects parameter 1 to be array, null given in /home/betbonus/livebetpro.com/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111