CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-04-26 22:16:37

Tesla talks up AI and Bitcoin potential on conference call

Tesla (TSLA) CEO Elon Musk talked robotics and AI during today's post-earnings conference call. Musk stated that the company is developing the most advanced AI system in the world. He also said Tesla is developing one of the strongest hardware and software AI teams in the world. As expected, Musk outlined the progress of the Gigafactories outside Shanghai, Berlin and Austin as part of the outlook that deliveries will grow rapidly. Tesla execs noted that the company trimmed 10% of its Bitcoin (BTC-USD) position by the end of the quarter after investing $1.5B. The profit on the sold Bitcoin position was about $101M. They indicated that the Bitcoin story began when the company was looking for a return on cash without sacrificing liquidity. Tesla is optimistic on cryptocurrencies and the liquidity in the market. Tesla plans to be a long-term investor in Bitcoin.The early reaction from Wall Street is largely

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.