I want to get out of Bitcoin and buy TSLA stock....easiest way?

[bdmridgeback]

I have some Bitcoin I've had for years, still not at a loss on it but hovering just above and want to buy Tesla stock now. What would be my best approach to doing this. My Bitcoin is all in Coinbase at the moment. I've used Robinhood in the past and have account set up. Aside from that, need some guidance.

 

[Ogre]

Sell the bitcoin. Put the money into your brokerage account, buy TSLA.

I’m not sure which bit is troubling you so can’t really say. I know little to nothing about Bitcoin so can’t say too much about selling it. Setting up a brokerage account online is fairly straightforward, though sound like you have Robinhood set up so… ??? What the issue?

If you are struggling with funding your account, just look up a local brokerage and go into the office. I’ve used TD Ameritrade and they have offices in most cities and are pretty helpful in person in my experience.

 

[LoneWolfO6]

I have some Bitcoin I've had for years, still not at a loss on it but hovering just above and want to buy Tesla stock now. What would be my best approach to doing this. My Bitcoin is all in Coinbase at the moment. I've used Robinhood in the past and have account set up. Aside from that, need some guidance.

Robinhood makes it easy, sell all the Bitcoin you want to free up for capital, wait few days for it to finalize. Once showing $$$ in Robinhood=buy (TSLA). Done?!

 

[bdmridgeback]

Robinhood makes it easy, sell all the Bitcoin you want to free up for capital, wait few days for it to finalize. Once showing $$$ in Robinhood=buy (TSLA). Done?!

That is exactly what I was hoping I could do!
Thanks

 

[Cybertruckee]

Sell your bitcoin and when you see that the $$$ have been credited, use it to buy Tesla shares.

 

[damnitjim]

I bought my Bitcoin (just one) right before the Covid crash for the hopes of a $100K BTC to pay for my Cybertruck. At this point I am up 3X. This latest dip is just more manipulation. The next halving is near, BTC has been stabilizing, ETF approvals are close, and BTC is due for a massive move to the upside. I remain hopeful and continue to HODL.

 

[Luke42]

I have some Bitcoin I've had for years, still not at a loss on it but hovering just above and want to buy Tesla stock now. What would be my best approach to doing this. My Bitcoin is all in Coinbase at the moment. I've used Robinhood in the past and have account set up. Aside from that, need some guidance.

If you have to ask this question, you should consider selling bitcoin and buying an index fund like VTI.

Buying VTI is placing a bet on the growth of capitalist economy of the United States of America, which is a relatively safe long-term bet. The returns can be lower, but the risk is definitely lower.

The alternatives you've mentioned are a bet on a single company like TSLA whose stock price has a lot to do with the personal popularity of its CEO, and a bet on an alternative currency which is a solution looking for a problem.

I made a life-changing amount of money on TSLA, so I'm not going to tell you what to do. In retrospect, I made those gains through sheer dumb luck rather than by being smarter or better informed than all of the other Tesla fans out there -- there are millions of us who follow every detail of the company closely, and I'm not different. I don't believe I can repeat that feat, so I sold my TSLA just after its all-time-high in 2021 and bought VTI instead.

I realize that standard investment advice can be unpopular with Tesla fans, but someone should point out that this perspective exists and that you should consiser it.

I cannot, and will not, tell you what you should actually do with your money -- that's your decision, and anything else would break the market. However, you do need to be aware of "boring investments" like VTI and the risk/benefit they provide in order to make smart investing decisions.

 

[mhaze]

That is exactly what I was hoping I could do!
Thanks

Wait for BTC to hit 120k. Then sell. Set aside money for long term gains tax. Enough left over for CT. Have fun!!!

 

[SorenLucas]

Swapping your Bitcoin for Tesla stock is a savvy move! Since you've got your Bitcoin on Coinbase and a Robinhood account set up, here's how to proceed. First, sell your Bitcoin on Coinbase to convert it into USD or a stablecoin like USDC. Next, transfer the funds to your Robinhood account. Once the money is in Robinhood, you can easily use it to purchase TSLA stock through their platform. It's a straightforward process that you can complete online.
If you're keen on exploring more crypto options or staying updated with the latest trends, you might want to check out https://presale.world. They provide valuable insights and information for crypto enthusiasts.