Gary Black, former CIO at Goldman Sachs and now a managing partner at The Future Fund, has taken to Twitter to share data about Tesla stock going up in price prior to the release of the company’s earnings in 2Q.
The reason for that, as per him, is the recent comments made by Elon Musk regarding Tesla likely to resume accepting the flagship cryptocurrency as payment for its e-cars in the future.
Elon’s Bitcoin comments pushing TSLA up
Black has tweeted that TSLA keeps rising ahead of the upcoming earnings report for the second quarter 2021. He has named the TSLA price of $658 + 0.4%.
He believes that the comments made by Elon Musk during the B-Word online conference with ARK’s Cathie Wood and Bitcoin Maxi Twitter CEO Jack Dorsey about Tesla likely to resume accepting Bitcoin have pushed the company stock price up as they were viewed favorably by investors.
$TSLA continues to move up in front of Monday’s 2Q earnings ($658 pre-mkt +0.4%). Elon’s comments yesterday that TSLA would likely resume accepting #btc payments without indicating TSLA would buy more #btc were viewed favorably. SPX +0.1% NDX +0.1% 10yr Treas yld 1.295% +0.7bp.
— Gary Black (@garyblack00) July 22, 2021
Musk unveils his personal crypto holdings and those of Tesla and SpaceX
During the long-anticipated talk with a prominent Bitcoiner Jack Dorsey, who founded Twitter, Square and his team is working on a decentralized Bitcoin wallet now, the head of Tesla revealed that his personal crypto holdings contain Bitcoin, Ethereum and the meme coin DOGE that Musk frequently touts on his Twitter page to millions of his followers.
He also said that both Tesla and SpaceX hold Bitcoin on their balance sheets too. Neither the companies, nor Elon Musk are going to sell any of their crypto, according to the statement.
Bitcoin and Dogecoin rose ahead of the Musk-Dorsey talk
As reported by U.Today, on Wednesday, in the anticipation of the B-Word conference between Dorsey and Musk, both Bitcoin and Dogecoin posted a substantial growth.
The flagship crypto went up over 5 percent and rose from the $29,000 zone first back to $30,000 and then added 5 percent, soaring to the $31,300 level.
Musk’s favourite meme currency DOGE surged around 18 percent in the run up to the conference of the biggest Dogecoin influencer as the community likely expected Musk to mention the coin – so he did by confirming he holds it.
Earlier, Elon Musk also tweeted that his little baby son is also a DOGE “toddler-hodler”, who hodls “like a champ” and never says the word “sell”. The boy who was given a peculiar name Lil X was born on May 4 last year from Musk’s girlfriend – Canadian singer Grimes. His father bought him a personal Dogecoin stash after he was born.