DeVocht’s portfolio reached its peak on Nov. 30, 2021, but as Tesla’s stock price plummeted in 2022, so did his wealth. He was forced to sell Tesla shares and repay loans from a margin account, causing his investments to collapse. DeVocht argues that RBC and his tax adviser from Grant Thornton LLP were responsible for helping him preserve his wealth, but their alleged failure to provide proper financial planning advice contributed to his downfall.

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In his lawsuit, filed in the Supreme Court of British Columbia, DeVocht seeks damages, legal costs, and interest, claiming that his advisers’ actions resulted in the total loss of his net worth. While the defendants have yet to respond to the lawsuit, the case has drawn attention for its parallels to high-risk trading in other markets, including cryptocurrency.

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The post A Man Turned His 88K$ Tesla Investment To 415M$ appeared first on Coin Engineer.

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According to Tesla’s (TSLA) latest earnings report, it did not make any changes to its Bitcoin (BTC) portfolio in the fourth quarter of 2023. The absence of any information about Bitcoin in the quarterly report indicates that the company did not buy or sell Bitcoin during the period ending September. At current prices, Tesla’s Bitcoin holdings are worth $387 million.

According to the data in Tesla’s possession, the company’s Bitcoin treasury exceeds 9,720 BTC, thus making it the third largest public Bitcoin holder after software company MicroStrategy (MSTR) and mining firm Marathon (MARA).

Led by Elon Musk, TSLA made a $1.5 billion investment in approximately 43,000 BTC in February 2021. In the same month, TSLA announced that it would accept Bitcoin as a form of payment. However, as a result of the uncertainties caused by the COVID-19 pandemic, it sold a few periods of Bitcoin in the second quarter of 2022 in order to protect its cash position.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

The post Tesla Does Not Change Bitcoin Holdings in Q4! appeared first on Coin Engineer.