NEW YORK (Reuters) -The U.S. Securities and Exchange Commission (SEC) will not appeal a recent court ruling that found it was wrong to reject an application from Grayscale Investments to create a spot bitcoin exchange-traded fund (ETF), said a source familiar with the matter.
Andy
Lambs are for fleecing? 
The Captain
I am not sure it they are being fleeced or not. But I donāt think I would ever call Elon Musk a but to each their own. 
Andy
What does Elon Musk have to do with it? 
The Captain
PS: Most if not all āFinancial Productsā are designed to fleece
s
PPS: A most welcome relief from debugging the Covered Call Selector
I tend to think the SEC is protecting itself politically by not really making the decision. At least that is one aspect of this.
Elon Musk owns a lot of Bitcoin. Soā¦
Surprised you didnāt know that. 
Andy
P.S So Gold is designed to fleece you?
How much bitcoin does Elon Musk own? How do you know?
Intersting, two minutes ago I checked on Google.
I suggest if you want to question statements first look. Making people prove themselves when saying something honest is a PITA.
Of course I checked first! Google says he owns effectively none of it (maybe a tiny bit, but irrelevant for someone of his wealth). Obviously the earlier poster has more [recent] information. Since they chose to share their information here, I asked about it. You know, thatās how discussion works.
Tesla may or may not still own some, but thatās not Elon Musk (I think he owns 12 or 13% of Tesla now). I also own some Tesla, but I own zero bitcoin.
Mark, Tesla is Elon Musk, if you own Tesla you are Tesla also. Anyone who owns Tesla, by proxy, owns bitcoin. To say you donāt is just being disengenuous. I am not putting anyone down for bitcoin but I do question people who invest in something and do not understand what they are invested in.
From Teslaās last 10K
In the first quarter of 2021, we invested an aggregate $1.50 billion in bitcoin. As with any investment and consistent with how we manage fiat-based cash and cash-equivalent accounts, we may increase or decrease our holdings of digital assets at any time based on the needs of the business and our view of market and environmental conditions. Digital assets are considered indefinite-lived intangible assets under applicable accounting rules. Accordingly, any decrease in their fair values below our carrying values for such assets at any time subsequent to their acquisition will require us to recognize impairment charges, whereas we may make no upward revisions for any market price increases until a sale. For any digital assets held now or in the future, these charges may negatively impact our profitability in the periods in which such impairments occur even if the overall market values of these assets increase. For example, in the year ended December 31, 2022, we recorded $204 million of impairment losses resulting from changes to the carrying value of our bitcoin and gains of $64 million on certain conversions of bitcoin into fiat currency by us.
So now you know.
Andy
P.S I think 1.5 billion of bitcoin seems like a lot
There are dozens of us here. If every honest statement is questioned as we go alongā¦well we can all google.
You also did not post any evidence of Musk owning BTC so that others would not have to ask.
@buynholdisdead Thanks for posting that here.
Mark,
On The Balance sheet they have them down as Digital Assets. The amount of Bitcoin has gone down because of impairment cost and the sale of Bitcoin. It is now sitting at 184 million.
You can find that here. Just do a search in your browser on digital assets. This is the 10K.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000095017023001409/tsla-20221231.htm
Andy
No, I donāt think so. Much less than Wal-Mart is the Walton family. It may have started that way, but it isnāt so anymore.
From their more recent 10K (June 30, 2023), they sold about a billion of it, and carry only $184M of digital assets (bitcoin, etc) on their balance sheet at this point. Thatās not really very significant.
Hereās a link to it for @Leap1 - https://ir.tesla.com/_flysystem/s3/sec/000095017023033872/tsla-20230630-gen.pdf
Love it.
I also think discussing Tesla and Musk in regards to BTC is just a small sideshow.
Your world might revolve around Elon Musk but mine does not.
The Captain
Ok so you donāt think of the stock you buy is part of owning a company and you do not think Elon Musk is a owner of Tesla? That is not uncommon but an interesting way of think of it.
That is incorrect. They didnāt sell that much, they sold some and some of that is impairment.
No , I understand what I am invested in, but I can understand why you wouldnāt know anything about your investments. Itās really hard to keep up with things as we age. 
Andy
I hate have to say this but you are full of carp. I know Tesla bought Bitcoin and I didnāt like it. I also know about Dogecoin. Itās all crap. But the investment fact is that a $1.5 B purchase of Bitcoin is irrelevant in the total Tesla story. Were it otherwise I would not own a hefty chunk of TSLA.
Before making wildass statements you might want to put your brain in gear.
The Captain
Everything you said about me is factually correct?
Not by a long shot.
The Captain
No, what gave you that idea? People who own stock do indeed own a part of the company.
I do think that āTesla is Elon Muskā is incorrect, and thatās what I replied to. You can tell because I quoted it (itās a direct quote from you).
I literally read it off their 10k!!! Thereās a line item for it.
Out of their $1.2B+ in crypto, they sold $936M of it in 2022. See here -
