Hacker News Reader

HNHacker News

Top New Best Ask Show Jobs

Comment by simondotau | Hacker News Reader

Parent Full thread

simondotau·

Why is it clever to tank an asset that they own?

How did the 12% drop benefit Tesla?

You're not making any sense.

View on HN

> Why is it clever to tank an asset that they own?

It's not but that doesn't mean Musk won't do it anyway. He once tanked his own company's stock by smoking cannabis in public. After something like that anything is possible.

Stock market investors don’t care, because they’re in it for the long term. It’s the stock market gamblers who bitch and moan, even though they’re the ones who actually cause these fluctuations by reacting to superficial, fleeting news stories which have no bearing on the underlying asset.

Perhaps because only that amount could be sold for a good enough price? Someone has to buy it and a sudden increase in supply will drive the price down, that amount is not a single transaction with fixed price.

None of that was an answer to any of my questions. Specifically, how did talking down Bitcoin benefit Tesla? I don't understand how that move plays into Tesla's hands.

Selling some at a good price, wait/manipulate it back up again, sell some more, repeat. You can’t liquidate the whole thing at the same time.

That's still not an answer to my question. Specifically, how did talking down Bitcoin benefit Tesla? That step didn't feature in your hypothesised manipulation strategy.

A 12% drop isnt ‘tanking Bitcoin’, it’s barely more than normal daily fluctuations in the crazy casino of crypto.

That's true.

edit: nevermind

Did you read the tweet?

Reply on news.ycombinator.com