Meanwhile, Elon Musk is trying to extinguish the fire.
Lots of people have messed around with various systems for no reason other than to see if they can.
It is easy to intellectually overestimate someone with this kind of success and reach.
What is the innovation behind it?
With that stated, I don't attribute this success to Elon Musk beyond his ability to lie his way into sustaining the company's valuation so that the engineers could do the hard work.
They've marketed non fossil fuel vehicles to consumers, which other car companies have not managed to do
Tesla's addition to the S&P500 has gone a long way to propping up that share price and while one quarter in the red wouldn't be enough to boot them from the index, they're still in a precarious position when it comes to profitability. I don't think Musk is stupid enough to risk the share price on a Bitcoin bet.
So this is a roundabout way of saying "Musk probably has a considerable vested interest in keeping the price of BTC above $40k".
But I also believe - without proof, mind you - that they have sold at least 50% of their holdings at a profit anyway, so their downside is capped.
Diamond hands -> Hold regardless of whether the asset is tanking (or spiking).
Paper hands -> Sell the moment there's trouble