{"id":38396,"date":"2021-03-05T15:38:07","date_gmt":"2021-03-05T13:38:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38396"},"modified":"2025-08-30T04:28:14","modified_gmt":"2025-08-30T01:28:14","slug":"former-goldman-sachs-executive-urges-tesla-to-sell-bitcoin-to-rescue-its-stock","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/former-goldman-sachs-executive-urges-tesla-to-sell-bitcoin-to-rescue-its-stock\/","title":{"rendered":"Former Goldman Sachs executive urges Tesla to sell Bitcoin to rescue its stock"},"content":{"rendered":"<p>Former Goldman Sachs chief investment officer Gary Black said that the electric-car maker Tesla could halt the decline in its shares by selling digital gold.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Imagine the positive momentum <a href=\"https:\/\/twitter.com\/search?q=%24tsla&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$tsla<\/a> would create if they announced the sale of their <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&#038;ref_src=twsrc%5Etfw\">#btc<\/a> position, and authorized a <a href=\"https:\/\/twitter.com\/search?q=%24tsla&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$tsla<\/a> stock buyback instead. Highly unlikely, but shareholders would be very supportive.<\/p>\n<p>\u2014 Gary Black (@garyblack00) <a href=\"https:\/\/twitter.com\/garyblack00\/status\/1367538709688639493?ref_src=twsrc%5Etfw\">March 4, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n&#8220;Imagine the positive momentum Tesla would create if it announced the sale of its bitcoins and approved a stock buyback. Highly unlikely, but shareholders would support it,&#8221; noted Black.<\/p>\n<\/blockquote>\n<p>On February 8, the company Tesla said that <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musks-tesla-invested-1-5-billion-in-bitcoin-the-assets-price-rose-to-44800\">invested $1.5 bn<\/a> in Bitcoin. In less than a month, the EV maker&#8217;s shares fell 28%.<\/p>\n<div id=\"attachment_127016\" style=\"width: 1154px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-127016\" class=\"size-full wp-image-127016\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-431.png\" alt=\"Former Goldman Sachs executive urged Tesla to sell Bitcoin to save its shares\" width=\"1144\" height=\"537\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-431.png 1144w, https:\/\/u1f987.com\/wp-content\/uploads\/1-431-300x141.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-431-1024x481.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-431-768x361.png 768w\" sizes=\"auto, (max-width: 1144px) 100vw, 1144px\" \/><\/p>\n<p id=\"caption-attachment-127016\" class=\"wp-caption-text\">Graph of Tesla stock decline after disclosure of Bitcoin investment. Data: Yahoo Finance.<\/p>\n<\/div>\n<p>Former Goldman Sachs executive is confident that Tesla should use excess cash to buy back its own shares, rather than digital assets.<\/p>\n<p>Over the past month, the <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-becomes-the-first-nasdaq-listed-company-to-invest-part-of-its-capital-in-bitcoin\">first publicly Bitcoin-investing<\/a> company MicroStrategy&#8217;s stock has also fallen. Since February 9, shares have fallen 50%.<\/p>\n<div id=\"attachment_127017\" style=\"width: 1158px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-127017\" class=\"size-full wp-image-127017\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-392.png\" alt=\"Former Goldman Sachs executive urged Tesla to sell Bitcoin to save its shares\" width=\"1148\" height=\"532\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-392.png 1148w, https:\/\/u1f987.com\/wp-content\/uploads\/2-392-300x139.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-392-1024x475.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-392-768x356.png 768w\" sizes=\"auto, (max-width: 1148px) 100vw, 1148px\" \/><\/p>\n<p id=\"caption-attachment-127017\" class=\"wp-caption-text\">Graph of MicroStrategy stock decline. Data: Yahoo Finance.<\/p>\n<\/div>\n<p>According to Bitcoin Treasuries, at the time of writing MicroStrategy owns 90,859 BTC worth $4.3 billion, bought for $2.18 billion. Tesla owns 48,000 BTC worth $2.58 billion, according to the service.<\/p>\n<div id=\"attachment_127018\" style=\"width: 1001px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-127018\" class=\"size-full wp-image-127018\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Bezymyannyj-13.png\" alt=\"Former Goldman Sachs executive urged Tesla to sell Bitcoin to save its shares\" width=\"991\" height=\"138\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Bezymyannyj-13.png 991w, https:\/\/u1f987.com\/wp-content\/uploads\/Bezymyannyj-13-300x42.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Bezymyannyj-13-768x107.png 768w\" sizes=\"auto, (max-width: 991px) 100vw, 991px\" \/><\/p>\n<p id=\"caption-attachment-127018\" class=\"wp-caption-text\">Data: Bitcoin Treasuries.<\/p>\n<\/div>\n<p>On February 8, after the investment, Bitcoin price rose by more than $5,000 within hours and hit a new all-time high above $44,000.<\/p>\n<p>On February 20, the Bitcoin price <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-breaks-above-the-57000-level\">broke through the $57,000 level<\/a>, after which it began to fall. At the time of writing, the coin was trading at around $47,500.<\/p>\n<p>Earlier, former Goldman Sachs investment chief Gary Black <a href=\"https:\/\/u1f987.com\/en\/news\/former-goldman-sachs-top-executive-sells-tesla-shares-after-bitcoin-investment\">closed a long position in Tesla shares<\/a> amid the carmaker&#8217;s Bitcoin investment.<\/p>\n<p>According to Wedbush Securities analysts, Tesla&#8217;s unrealised profit from its $1.5 billion investment in Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-investment-proved-more-profitable-for-tesla-than-ev-sales\">was higher<\/a> than from selling EVs in 2020. The company also said <a href=\"https:\/\/u1f987.com\/en\/news\/tesla-shares-increasingly-tied-to-bitcoin\">that Tesla&#8217;s share price is tied to the Bitcoin price<\/a>.<\/p>\n<p>On February 24 MicroStrategy <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-buys-more-bitcoin-for-1-026-billion\">invested more than $1 billion<\/a> in digital gold. On March 1 the company bought another 328 BTC <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-invests-another-15-million-in-bitcoin\">for $15 million<\/a>.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 all the news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Goldman Sachs chief investment officer Gary Black said that the electric-vehicle maker Tesla could halt the decline in its shares by selling digital gold.<\/p>\n","protected":false},"author":1,"featured_media":38397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,728,1207,1138,1319],"class_list":["post-38396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-goldman-sachs","tag-microstrategy","tag-opinions","tag-tesla"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=38396"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38396\/revisions"}],"predecessor-version":[{"id":38398,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38396\/revisions\/38398"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/38397"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=38396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=38396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=38396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}