Bond Angle in the News re Tesla and Bitcoin, 4/26/21

CNBC's Lora Kolodny: "Tesla's bitcoin speculation helped boost profits by more than $100 million in Q1" with Bitcoin and Tesla analysis from VIcki Bryan, Bond Angle

In “Tesla’s bitcoin speculation helped boost profits by more than $100 million in Q1”

Lora Kolodny, @LoraKolodny
4/26/21

“Vicki Bryan, founder of the bond investment research firm Bond Angle, wrote in an e-mail to CNBC:

“Bitcoin is not fungible or logically advantageous as currency, arguably not safer for the owner vs cash in transactions, and inexcusably damaging to the environment.” 

Tesla had historically racked up around $1.6 billion in regulatory energy credits, primarily zero emission vehicle credits, Bryan notes. Credit sales helped Tesla to report more than four consecutive quarters of profitability, qualifying Tesla for addition to the S&P 500 index.

With Tesla’s bitcoin purchases, Bryan says, Tesla is adding a volatile asset with limited reported visibility to financial statements which “already conceal vital clarity of key operations and financial conditions.”

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