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How Bitcoin impacted Tesla, MicroStrategy, and Square’s Q2 earnings

Here’s what we learned from the Q2 earnings of Tesla, MicroStrategy, and Square — which together hold billions of dollars in Bitcoin.

Hedge fund profits by shorting Bitcoin stock MicroStrategy — but not Tesla

Argonaut chief Barry Norris said he believes the recent crypto rallies are “unsustainable,” so he’s shorting Bitcoin stocks like Coinbase.

MicroStrategy’s Bitcoin stash makes up 80% of its market value, having spent over $2 billion on BTC since August.

Cayman Islands-based Binance has partnered with a German bank to sell stock tokens, but international regulators are keeping close watch.

HSBC effectively reasoned that MicroStrategy now derives too much of its value from Bitcoin, so its customers can no longer buy MSTR stock.