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Wall Street Breakfast

Is Tesla bailing out of bitcoin?

Wall Street Breakfast

Seeking Alpha

News, Business News, Investing, Business

4.11K Ratings

🗓️ 16 October 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

The EV maker has transferred almost all $760 million in bitcoin. (0:16) Clarence Beeks! OJ prices are soaring. (1:04) United Airlines brings back its buyback. (3:05)

Show Notes
GameStop becomes an authorized dealer of sports and hobby trading cards
Amazon signs deals to invest in small nuclear reactors to power AI
British American Tobacco plans to sell synthetic nicotine pouches in U.S.

Episode transcripts: seekingalpha.com/wsb
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Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis.

0:10.0

Good afternoon. Today is Wednesday, October 16th I'm your host Kim Khan. Our top story so far.

0:16.4

Tesla has reportedly transferred almost all 760 million dollars in Bitcoin that it owns to

0:21.5

unidentified wallets. The move has given rise to speculation

0:25.2

that the EV Maker might be selling the cryptocurrency. Well, that are associated with

0:30.0

Tesla moved more than 11,500 Bitcoin to other wallets whose ownership is unknown.

0:35.8

That's according to a Coin Desk report citing data from Arkham Intelligence.

0:40.2

The Tesla wallets now have about only $6.65. The carmaker is the fourth largest holder of the

0:48.8

cryptocurrency among publicly listed companies in the US according to Bitcoin's Treasury data.

0:54.0

Earlier in March, a Morgan Stanley report suggested that since September last year

0:59.0

the historically positive correlation between Tesla's share price and Bitcoin has broken down.

1:04.4

In today's trading...

1:06.4

Some on in April of 1,42.

1:10.0

Training places fans will recognize that is a sign we're about to talk frozen concentrated orange juice.

1:15.0

No confirmed sightings of Clarence Beeks, but the holiday season is starting and orange juice prices are soaring.

1:22.0

Plaid by diseased groves, uprooted trees to make room for housing developments,

1:26.0

and severe weather that has decimated crops,

1:29.0

the price of orange juice has skyrocketed in the past three years by 327%. It's expected to climb even higher in the wake

1:36.4

of Hurricanes Helene and Milton, which swept through Florida less than three weeks apart.

1:41.8

Hurricane Milton destroyed more than 3 million boxes of oranges in Florida, setting

1:45.4

the state up for the smallest orange harvest in close to 100 years. Coupled with a protracted

1:50.4

drought in Brazil, the world's largest orange exporter, the price for

...

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