Is it a coincidence that China’s Tesla quality issue and Tesla’s announcement of Bitcoin?

Is it a coincidence that China’s Tesla quality issue and Tesla’s announcement of Bitcoin?

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[Blockchain Today Reporter Park Yohan] News that Tesla has invested $1.5 billion in Bitcoin is said to be in the right place.

According to the blockchain and cryptocurrency media CoinDesk, the timing of Tesla’s release of its balance sheet on the 8th (local time) coincidently coincides with the timing of the Chinese government raising the quality and safety issues of Tesla cars. What is certain is that Tesla is lucky.

Recently, Chinese market regulators have questioned the quality of Tesla cars. Problems such as sudden accidents and battery fires have been raised. In the case of Tesla Motors (Beijing) and Tesla (Shanghai), Chinese law must be strictly followed. It also stated that public safety should be prioritized, as well as consumers’ legal rights and interests should be protected.

Tesla’s announcement is particularly noteworthy in two respects.

First, Tesla has a good relationship with the Chinese government. The Chinese government applies very strict standards for foreign automakers. A prime example is the need to take the form of an investment joint venture with a Chinese company. Nevertheless, Tesla was the first automaker to enter without an investment joint venture. Second, it was at the time Tesla announced it had invested $1.5 billion in Bitcoin.

On February 8, Tesla’s share price rose 1.3%. It was the announced impact of Bitcoin investment. Bitcoin also set a new record. At the time of the announcement, the price per bitcoin rose by $4,254.48. Media like Bloomberg took note of the Chinese government’s announcement, but it was Tesla’s stock price and bitcoin price that became issues.

From the point of view, Tesla is very lucky. And some believe that the announcement of Bitcoin investment is linked to the timing of the announcement by the Chinese government. As reported by Business Insider, investor Michael Burry tweeted about Tesla investing in Bitcoin to distract him. Michael Burry is famous for being a model for the movie’Big Short’. Currently, the tweet has been deleted. When it comes to recent Tesla and Bitcoin, it is true that the viewpoint is amazing.

â—†Event timetable

â–³ December 20, 2020: Elon Musk started posting tweets related to Bitcoin. Michael Saylor, CEO of MicroStrategy, talked about investing in bitcoin, not just talking about it. Elon Musk said, “Once we invest, the amount is not a joke, is it possible?”

â–³ January 29, 2021: Elon Musk said, “If you look back, Bitcoin was inevitable.” Elon Musk also put a bitcoin hashtag on his account. Since then, the price of Bitcoin has risen by two digits.

â–³ February 8, 2021: The Chinese government recently officially announced that Chinese consumers have questioned Tesla’s quality.

â–³ February 8, 2021: Tesrala submitted its balance sheet to the Securities and Exchange Commission (SEC). And it was revealed that Tesla invested $1.5 billion in Bitcoin.

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