Did Tesla Really Sell Its Bitcoin?

in HODL2 months ago

Tesla, the electric car manufacturer led by Elon Musk, has revealed that it has sold a piece of its Bitcoin holdings, and this comes after buying Bitcoin worth $ 1 billion earlier in 2021.

Tesla said in its income report that it sold Bitcoin worth $ 270 million in the main quarter of 2021.

With Bitcoin's value rising since its acquisition, the organization's bitcoin value may have evolved to $ 2.7 billion, indicating that Tesla likely sold 10% of its bitcoin holdings.

The organization emerged as truly worth publishing after it was revealed that it had bought $ 1.5 billion of Bitcoin in January 2021.

Tesla's acquisition of Bitcoin has raised the cost of the largest digital currency by estimating the market.

Later in March, Tesla announced that it was tolerating Bitcoin as an installment strategy for purchasing its vehicles.

Meanwhile, the organization has expressed that the bitcoin it acquired will not be exchanged for fiat cash.

However, it recently sold 10% of its Bitcoin, contrary to what it said before that it will not change Bitcoin to paper money standards.

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Elon Musk explained:

Elon Musk, in a new tweet, explained that he responded to Tesla's coordinated analysis after it sold 10% of the bitcoin it owns, saying:

I have not sold any of my Bitcoins.

Tesla sold 10% of its holdings mostly to expand liquidity and Bitcoin remains an option as opposed to staying with cash that has yet to be determined.

The cost of Bitcoin saw a massive drop from the end of the previous week, as the base digital currency traded at around $ 47,000 after previously hitting an all-time high of $ 65,000.

Bitcoin selection continues as many organizations have recently added Bitcoin to their accounting reports or as an installment strategy based on them.

MicroStrategy recently reported that non-employed moderators will be paid in bitcoin.

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By @natalia-irish

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What this leaves me with is, will people really continue to worship this guy after he has clearly been shown to be a cancer to the crypto market, as greed is what flows the most.

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He's a creep

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Ya but as a great influencer
He made great publicity for crypto in general

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This is how things may be happening:

  1. Elon says - we sold Bitcoins !
  2. Week hands panic, FUD and sell. BTC prices drop down
  3. Elon laughs ( those morons trust I've really sold) and buys MOAR BTC. Buys at cheap.
  4. Weak hands are depressed, they lost money, and soon they complete the cycle (sell low, buy High)
  5. Diamond hands keep chilling and keep HODLing

So, it works. Rinse and repeat !


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Yep. That seems to be the game of pretty much every whale in crypto. A constant cycle of generating FOMO and FUD. They make billions buying, when we're selling and selling, when we're buying.


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And this is how the elites continue to control the economy and the people, because although we are advancing in a new form of economy, it is still thought in a traditional way.

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Ya that is his main plan

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They are testing the market to see
where liquidity will come.
Profit is what drive the market
Live long BTC

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For Musk:
Live long DOGE

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They sold some for profit but by accepting it as a payment will end up with more coming in over time and if the price drops will more than likely buy in again.

It's easy if you have the money.

It's easy if you have the money.

you have said the bottom line

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Bitcoin is a great cryptocurrency, father of the crypto world, and I find it amazing in the power it holds to create decentralised (to some extent), quick and online payments. It has begun to be used more and more with businesses and companies, and who knows who is the next one up!

However, I find that there are possibly more suitable options that can be more efficient than Bitcoin, such as Tron, Bitcoin Cash and Litecoin, being the first cryptocurrency created, and thus potentially out-dated. Personally, I am more into BNB and ETH with the Dapps and other great services it has, not into Bitcoin since I do not do e-payments.

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When the dominance of btc is going more down and down
then these coins will be more valuable

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I'm still waiting for Elon to accept Dogecoin as payment for his Model 3 Tesla.

Judge a man for what he does rather than what he says.

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Yes, I judge him for what he does. Such as implementing wires and chips to the brains of monkeys and pigs without anesthesia. I know that this kind of brain surgery is also done in humans and that you don't feel any pain in the brain. BUT ... you can explain things to a person, you can make sure they don't feel fear. That they know why this operation is being done. And in my opinion that should ONLY be allowed with a medical necessity that provides real improvement and a better quality of life. How do you do that with animals? What is the need to do this with animals at all? And don't say they will understand AFTER they get the chip, because of the chip's AI intelligence.

I don't like the Neuralink company at all. We don't need this AI intelligence in our brains. I will not deny that it may be a solution for some medical problems. But seriously, I'd rather someone other than Elon Musk work on it. Musk, his ego is way too big, and the ideas he throws out at the world sound more like a bad SF movie than a good idea.

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I don't think he really cares much for the Cryptoverse.
He's in it to make a quick buck in my opinion, and what he says is often a lot of BS.

I'm just making a little more every time he tweets.
If Dogecoin went to $0.75 I'd have enough coin to buy a Model 3 but there are other projects and things I'd rather get into than own any Car.

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I don't think he will do this

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This is how the elites continue to control the economy and the people.

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