Elon Musk statement on his Bitcoin holding

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Quote from: imstillthebest on May 04, 2021, 07:29:20 AM

Quote from: RondoAnyar on April 29, 2021, 03:48:42 AM

why does elon musk say that, it looks like elon musk doesn't want to lose his profit in bitcoin. i think elon musk has a secret in his statement, so i don't think too much trust statement like that keep doing the best and according to your own ability

he replied to the guy that tagged him but his reply is also for the people that spread lies .
do you read the tweet ? its not elons btc that but it was the teslas btc that they sold and they sold not because of profit but it was for a reason . elon musk have his personal btc investment and he dont differ to us . we all invest in btc because we want to earn and not invest to loose .
i believe in elon musk but it was up to you guys if you will do the same .

I get your point, but unlike many of us Elon Musk is not struggling for money. He's an investor of a huge scale and to him investment into an early stage endeavour which can give him phenomenal return isn't much to him.

Let's not forget that everyone has their 'skin in the game' and they'll act in whichever way to protect their future gain.

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Quote from: RondoAnyar on April 29, 2021, 03:48:42 AM

why does elon musk say that, it looks like elon musk doesn't want to lose his profit in bitcoin. i think elon musk has a secret in his statement, so i don't think too much trust statement like that keep doing the best and according to your own ability

he replied to the guy that tagged him but his reply is also for the people that spread lies .
do you read the tweet ? its not elons btc that but it was the teslas btc that they sold and they sold not because of profit but it was for a reason . elon musk have his personal btc investment and he dont differ to us . we all invest in btc because we want to earn and not invest to loose .
i believe in elon musk but it was up to you guys if you will do the same .

elisabetheva

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Quote from: Republikcoin.com on May 03, 2021, 02:24:10 AM

All the impacts of what he did in cryptocurrency in the past, can also be used as a reference for him to test how strong his influence is on the world of cryptocurrency. He can measure his power to control the world of cryptocurrency, because we understand very well that no one knows the amount of digital assets of a person who owns cryptocurrency. This advantage can be used by Elon Musk to maintain the rate of Bitcoin so that he can still sell it at a higher value.

In terms of income and total assets, I think it is the privacy of everyone who does not need to be shared with the public.

With the strength he has, namely his many followers on social media, @elonmusk always tries to be able to influence with his tweets with the clear assumption that he can do what he wants, so that what his target can be achieved and we don't know that. I think it is true that the colleague said above that @elonmusk is trying to find out how strong its influence is on crypto. although indeed people also know with the tesla company he bought a number of bitcoins for investment.

yes, with people believing that he has held a portion of bitcoin, of course what he is doing is being able to make what is expected to be achieved at least his bitcoin investment can still be very profitable, obviously for other large companies also want to compete to be able to store bitcoin. such as news that Alibaba also intends to invest in bitcoin.

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Quote from: Sled on May 02, 2021, 08:01:58 AM

It is just like he is playing some trick on us and make people being curious about what he does and what he could do in the future. Because even me, I don't tell anyone, it needs privacy instead.

All the impacts of what he did in cryptocurrency in the past, can also be used as a reference for him to test how strong his influence is on the world of cryptocurrency. He can measure his power to control the world of cryptocurrency, because we understand very well that no one knows the amount of digital assets of a person who owns cryptocurrency. This advantage can be used by Elon Musk to maintain the rate of Bitcoin so that he can still sell it at a higher value.

In terms of income and total assets, I think it is the privacy of everyone who does not need to be shared with the public.

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Quote from: bryant.coleman on May 02, 2021, 07:51:08 AM

Quote from: mk4 on April 27, 2021, 09:13:24 AM

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

If that is the case, then I have another question. Elon Musk once claimed that he owns only 0.25 BTC, which he received as a gift from his friend. Has his holdings increased recently, or is he still owning just 0.25 BTC? It looks like Musk doesn't own any significant quantities of Bitcoin, so the topic of him selling his coins never arise in the first place. And also, as far as I understand, Elon is not required to reveal his individual holdings of cryptocurrency. He may need to mention about it in his income tax return, but then those returns are confidential.

He never tells us for sure nor to share it with the Tesla stakeholders. And in the first place, we don't have the right to urge him to speak about how much he owns and the profit. Because if that he says he owes nothing, nobody could believe as we are assuming that he holds a lot of Bitcoin more than the amount that Tesla company had.
It is just like he is playing some trick on us and make people being curious about what he does and what he could do in the future. Because even me, I don't tell anyone, it needs privacy instead.

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Quote from: mk4 on April 27, 2021, 09:13:24 AM

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

If that is the case, then I have another question. Elon Musk once claimed that he owns only 0.25 BTC, which he received as a gift from his friend. Has his holdings increased recently, or is he still owning just 0.25 BTC? It looks like Musk doesn't own any significant quantities of Bitcoin, so the topic of him selling his coins never arise in the first place. And also, as far as I understand, Elon is not required to reveal his individual holdings of cryptocurrency. He may need to mention about it in his income tax return, but then those returns are confidential.

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Elon musk tweeted already stated that he didn't sell his bitcoin at all and he would hold bitcoin for longer periods but who knows his privacy.

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Quote from: Reatim on May 02, 2021, 06:24:00 AM

Quote from: Bilgent on May 01, 2021, 06:19:11 AM

Technically, he hasn't sold his Bitcoin, it was Tesla's. And I don't see any abnormality about it as it was just an investment in the end and they've made a really great deal of profit so far. But I'm not content about that the market can be manipulated too easily by these news.

Actually we can't do anything about this issue if Tesla/Elon will sell their Bitcoin or not because none of us can hinder crypto owners action.
But what we have concern here is that the effect in the community specially from those weak investors and those manipulator, surely they will take this opportunity to turn the table into their position and the suffering public will once more crying in the end.
and Also Elon can admit or deny everything as long as here wanted because we are only here to speculate and wait for the result.

In short, let them do what they want with their holdings. After all, it is their assets. Even us, ordinary crypto users, we act according to what is advantage for us. The difference is that they have big influence in the market, whatever they say to the public, the public is usually taking it seriously. So if Elon just keep mum about the liquidation of 10% of Tesla's bitcoin, how are we going to know it, right? So just mind our own business and plan what would be best for our funds.

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Quote from: Bilgent on May 01, 2021, 06:19:11 AM

Technically, he hasn't sold his Bitcoin, it was Tesla's. And I don't see any abnormality about it as it was just an investment in the end and they've made a really great deal of profit so far. But I'm not content about that the market can be manipulated too easily by these news.

Actually we can't do anything about this issue if Tesla/Elon will sell their Bitcoin or not because none of us can hinder crypto owners action.
But what we have concern here is that the effect in the community specially from those weak investors and those manipulator, surely they will take this opportunity to turn the table into their position and the suffering public will once more crying in the end.
and Also Elon can admit or deny everything as long as here wanted because we are only here to speculate and wait for the result.

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Quote from: Timelord2067 on May 01, 2021, 09:40:09 PM

Question: Whose head would roll at Tesla if Bitcoin were to surge immediately after the bitcoin were sold?

Answer: No one's because no-one at Tesla does anything without Elon Musk's authorisation. It's his company after-all.

Saying Tesla chose to sell bitcoin is like saying the dog ate the homework which is a poor level of responsibility for Musk to take.

This is the correct interpretation of the circumstances but keep in mind there is a difference between Tesla the legal entity and Musk the private individual. It is very important to make this distinction when it comes to public communication. He knows that we know, but it's still important to stick to a certain set of rules in the external presentation. There is no way around that.

He has to act that way as he is already clashing with the SEC on many fronts. Now you may ask what's the issue if he said he decided it. Maybe there is no issue, just play it safe to not get things confused. I would do it the same way. That is why he immediately publicly added he personally did not sell any Bitcoin, and I believe that that is true. He has a huge bag I am sure about that as hell.

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Quote from: Fortify on April 27, 2021, 01:30:47 PM

Quote from: Imran232 on April 27, 2021, 08:45:57 AM

Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his investment. Just becasue of spaceX needs funds. He just confirmed this news. So guys don't panic and don't spread rummers. I want to know what you guys thought about his tweet. What is your opinion?

Elon has worded this statement in a certain way, but as cryptocurrency is not a regulated financial instrument so he could be lying and nobody would ever be able to take any action against him. That's why he cannot spout rumors around Tesla any more, so manipulates cryptocurrency like Dogecoin instead. The fact that you instantly conflate "his" bitcoin with Tesla's bitcoin shows how he can get away with such things, it is effectively working as a money market fund within Tesla and he is not bound to much publication around the profit he takes. The fact that he is on the defensive should be more alarming than him ignoring it in the first place - he usually revels in controversy, he might want a longer time to sell off at the higher price.

Bulls eye 👁.

As long as he does not own an exchange I am pretty sure he can say whatever he wants to about any cryptocoin.

So he is having some fun.

Since it is 10% of Tesla’s BTC it is pretty much a no story.

If it was all of the companies holdings it would have more meaning.

I wonder if there will be a call 📞 for more restrictions on touting a cryptocoin.

Quote from: Chato1977 on May 01, 2021, 06:22:41 AM

Quote from: Bilgent on May 01, 2021, 06:19:11 AM

Technically, he hasn't sold his Bitcoin, it was Tesla's. And I don't see any abnormality about it as it was just an investment in the end and they've made a really great deal of profit so far. But I'm not content about that the market can be manipulated too easily by these news.

And that is Only 10% that is nothing compared to the remaining 90% .

And Tesla stands for Elon as Elon stands for tesla as well , so tesla selling is Elon's selling .

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Question: Whose head would roll at Tesla if Bitcoin were to surge immediately after the bitcoin were sold?

Answer: No one's because no-one at Tesla does anything without Elon Musk's authorisation. It's his company after-all.

Saying Tesla chose to sell bitcoin is like saying the dog ate the homework which is a poor level of responsibility for Musk to take.

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Quote from: Bilgent on May 01, 2021, 06:19:11 AM

Technically, he hasn't sold his Bitcoin, it was Tesla's. And I don't see any abnormality about it as it was just an investment in the end and they've made a really great deal of profit so far. But I'm not content about that the market can be manipulated too easily by these news.

And that is Only 10% that is nothing compared to the remaining 90% .

And Tesla stands for Elon as Elon stands for tesla as well , so tesla selling is Elon's selling .

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Technically, he hasn't sold his Bitcoin, it was Tesla's. And I don't see any abnormality about it as it was just an investment in the end and they've made a really great deal of profit so far. But I'm not content about that the market can be manipulated too easily by these news.

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Quote from: slaman29 on April 30, 2021, 03:16:20 AM

Quote from: Ausgewielt on April 29, 2021, 03:07:34 AM

He is an expert, he know what he doing. I still believe that Elon Musk see something good about bitcoin. In my oppinion, use popularity to help increase the price of stock or cryptocurrency in order to gain profit isn't good behaviour. If he do that then he and his company image will become bad. I think he really interested to bitcoin and blockchain technology.

He is an expert in tech yes and building space tech etc but he is not an expert in Bitcoin and on wealth,,, I am so sure the decision came from his CFO or something similar in a financial position.

Even he admitted he got in late when surely he must have heard about it a long time ago and yet did not get in. So as an expert if he did not get in early, then he surely needs to be a better expert:)

LOL! He is not an expert in Bitcoin and on wealth? He understands it all including programming. I am not saying he is the best programmer, but he understands it. He also understands wealth and financial technology. I highly doubt he got in late.

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

[img width=]https://i.postimg.cc/9X9R0cXx/Screenshot-20210427-193846.jpg[/img]
Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. Just becasue of ~~spaceX needs funds~~ bitcoin liqudity according to his word. He just confirmed this news. So guys don't panic and don't spread rummers. I want to know what you guys thought about his tweet. What is your opinion?

From what I have seen, the company itself (TESLA) sold its bitcoin holdings right? So if it’s the company, then we shouldn’t say that it is Elon Musk. I do understand that he’s the CEO there and makes most of the orders that they carry out, but let’s talk about him personally. Although the last time I saw something about him owning bitcoins, he said it was just a few, and if I can remember clearly it is about 0.25 BTC.

Anyways, I don’t know whether he bought more bitcoins and added to his private holdings or if he has sold them all. Anyways, it’s not like they are not going to sell their holdings at some point, in fact every of these companies that are holding bitcoin as part of their assets can do that at any time.

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Quote from: Ausgewielt on April 29, 2021, 03:07:34 AM

He is an expert, he know what he doing. I still believe that Elon Musk see something good about bitcoin. In my oppinion, use popularity to help increase the price of stock or cryptocurrency in order to gain profit isn't good behaviour. If he do that then he and his company image will become bad. I think he really interested to bitcoin and blockchain technology.

He is an expert in tech yes and building space tech etc but he is not an expert in Bitcoin and on wealth,,, I am so sure the decision came from his CFO or something similar in a financial position.

Even he admitted he got in late when surely he must have heard about it a long time ago and yet did not get in. So as an expert if he did not get in early, then he surely needs to be a better expert:)

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Quote from: meanwords on April 29, 2021, 10:12:05 AM

Well to be fair, Tesla's Bitcoin holdings is very much different from his own bag so his claims are valid. It's pretty obvious that he has some secret Bitcoins stored in but he just doesn't want people to know how much he have. I don't know the reason though.

In fact, it is the right of an @elonmusk to be able to keep what they have a secret and it doesn't have to be all published, as a businessman he clearly understands the situation and will certainly do so not to make an impact on him later and clearly with Tesla. many believe that @elonmusk holds a lot of bitcoins, it can also be seen from the way he sells Tesla which can use bitcoin. This clearly indicates that he does not want to buy through a broker because it will certainly be known to the public.

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Quote from: Ausgewielt on April 29, 2021, 03:07:34 AM

He is an expert, he know what he doing. I still believe that Elon Musk see something good about bitcoin. In my oppinion, use popularity to help increase the price of stock or cryptocurrency in order to gain profit isn't good behaviour. If he do that then he and his company image will become bad. I think he really interested to bitcoin and blockchain technology.

Maybe you are overestimating the qualities of Elon Musk, he really cares a lot about the value of bitcoin but technology is not a thing he loves because these values are too vague, most of us do not know where bitcoin can be most heavily used and developed, all information points towards one goal of increasing bitcoin's price. And when looking at sensitive interests like money and profits, Elon Musk acts like many others, using fame to achieve common goals, he is not as noble as you think, just looking at his statements is enough to understand the role of manipulation

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the way people interprete this top guys tweet is the real problem. meanwhile announcing a sell is for a purpose which people will see as negative but its not. you have to know what you are doing and not let these words get into you. dont expect Elon to tell you things the way it is, its his choice if he really wants people to know or not.

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Quote from: meanwords on April 29, 2021, 10:12:05 AM

Quote from: Willitivity on April 29, 2021, 03:51:42 AM

Telsa sells bitcoin to prove liquidity yet Elon Musk claims his personal stash of bitcoin is not touched. I remember he said one time he doesn't own bitcoin. Stories just getting twisted with each passing day.

Well to be fair, Tesla's Bitcoin holdings is very much different from his own bag so his claims are valid. It's pretty obvious that he has some secret Bitcoins stored in but he just doesn't want people to know how much he have. I don't know the reason though.

And besides, Elon has the right to do that and hide his holding. And I don't think it was important to know how much he is holding right, it was his choice to keep a secret. We never know his entire life, we even don't know what is doing with his Bitcoin. We do not need to argue If he denies that nor says that claims are right because he is the one who knows everything about what he is doing.

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Quote from: Willitivity on April 29, 2021, 03:51:42 AM

Telsa sells bitcoin to prove liquidity yet Elon Musk claims his personal stash of bitcoin is not touched. I remember he said one time he doesn't own bitcoin. Stories just getting twisted with each passing day.

Well to be fair, Tesla's Bitcoin holdings is very much different from his own bag so his claims are valid. It's pretty obvious that he has some secret Bitcoins stored in but he just doesn't want people to know how much he have. I don't know the reason though.

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Quote from: karanggatak on April 28, 2021, 05:52:23 PM

distinguish personal investment from corporate investment, what Elonmusk said is very clear and true so in my opinion, don't panic if there is news that Tesla is selling some of its investment in bitcoin because Tesla is a large company that needs profit to develop its company to grow.
after all, 10% of Tesla's total investment is only a small part of his total assets in bitcoin so don't worry bitcoin still has a bullish potential to the new ATH.

the thought that everyone should buy bitcoin to make hodl is making many people try to force others to do the same thing. if a rich person or rich company buys a lot of bitcoins people keep thinking that the company or rich person should make eternal hodl, but that is not how it works, anyone has the right to do whatever they want with their investment, they have the right to seek profit. people must understand this

Quote from: ?? on ??

Well, it looks like he's tired of Doge

to this day I wonder what he saw in dogecoin? I can not understand

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Quote from: acener on April 29, 2021, 02:37:42 AM

Just let him be if they want to sell their holding or investment let them do it they are free to do so,
Other investor would buy it back it could drive the price lower but it would recover soon.
Now I think Elon is playing with Bitcoin maybe he is done with Doge and wants to try creating waves on Bitcoin price.

Whatever he decide for his investment it's he's right or his company's right.

Their money their responsibilities, the problem is to those who keeps chasing his words from social medias, they are the one who are really affected, misconceptions or being allure by his words. Investment is a business that you really need to think of everything instead of relying with luck and other people's opinions.

Quote from: RondoAnyar on April 29, 2021, 03:48:42 AM

why does elon musk say that, it looks like elon musk doesn't want to lose his profit in bitcoin. i think elon musk has a secret in his statement, so i don't think too much trust statement like that keep doing the best and according to your own ability

Better than relying to anyone. Musk is just another big whale inside, he does influenced in many ways as there are
people who keeps believing on him as a business tycoon.

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Quote from: Ausgewielt on April 29, 2021, 03:07:34 AM

He is an expert, he know what he doing. I still believe that Elon Musk see something good about bitcoin. In my oppinion, use popularity to help increase the price of stock or cryptocurrency in order to gain profit isn't good behaviour. If he do that then he and his company image will become bad. I think he really interested to bitcoin and blockchain technology.

But Elon Musk has been indirectly responsible for the price increase that Doge has been experiencing in the last few days and weeks. But he does this indirectly so he might not get slapped with a lawsuit for influencing the market. Whether you like it or not, Doge won't reach this new height without Elon Musk constant shilling. Similarly, Elon Musk is using his tesla company to try and replicate something similar with Bitcoin. Telsa sells bitcoin to prove liquidity yet Elon Musk claims his personal stash of bitcoin is not touched. I remember he said one time he doesn't own bitcoin. Stories just getting twisted with each passing day.

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why does elon musk say that, it looks like elon musk doesn't want to lose his profit in bitcoin. i think elon musk has a secret in his statement, so i don't think too much trust statement like that keep doing the best and according to your own ability

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Tesla greatly influenced the current state of bitcoin, imagine if Elon Musk decided to quit bitcoin, we would see a quarter loss of bitcoin's current good condition. But, like Elon Musk a good man, he's like telling the truth in his investments with bitcoin, if Elon Musk lasts longer with bitcoin it will make bitcoin much to be known.

Quote from: acener on April 29, 2021, 02:37:42 AM

Just let him be if they want to sell their holding or investment let them do it they are free to do so,
Other investor would buy it back it could drive the price lower but it would recover soon.
Now I think Elon is playing with Bitcoin maybe he is done with Doge and wants to try creating waves on Bitcoin price.

Well, it looks like he's tired of Doge, but playing with bitcoin is a tough thing, not only is Elon Musk the only rich person who goes into bitcoin, we don't know who the biggest bitcoin holders are right now, or if they're selling all his investments then there's always a whale coming down to buy. and it will recover only if Elon Musk quits bitcoin it could have an impact long enough, maybe a little similar in 2018.

[moderator's note: consecutive posts merged]

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He is an expert, he know what he doing. I still believe that Elon Musk see something good about bitcoin. In my oppinion, use popularity to help increase the price of stock or cryptocurrency in order to gain profit isn't good behaviour. If he do that then he and his company image will become bad. I think he really interested to bitcoin and blockchain technology.

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Just let him be if they want to sell their holding or investment let them do it they are free to do so,
Other investor would buy it back it could drive the price lower but it would recover soon.
Now I think Elon is playing with Bitcoin maybe he is done with Doge and wants to try creating waves on Bitcoin price.

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Quote from: Teslon on April 29, 2021, 01:13:59 AM

Elon musk never sell there bitcoin I'm 99.09 Sure

Any proof that will support or corroborate with that claim, there are plenty of reasons to sell bitcoin and if Elon sees it fit with his next agenda, I am sure that he will sell his bitcoin to prove a point.

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. Just becasue of ~~spaceX needs funds~~ bitcoin liqudity according to his word. He just confirmed this news. So guys don't panic and don't spread rummers. I want to know what you guys thought about his tweet. What is your opinion?

Of course He wont really be accepting those words but rather deny that its for prove of liquidity as he say but who knows behind the curtain? You wouldnt know on whats up to his mind
but if Elon did really mean on what he said then he has a point and lets see if there would be some future sells on where Tesla had bought but honestly, who we are to stop them on doing so?
Its their bitcoin holding and its their money that had been spent so they do have the full rights whenever they do sell on.

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

That's a clear statement mate and i think enough for us all to treat Bitcoin as a Gentle and promising asset , If Elon can say this for clarity then why not believe it?

Quote

Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet.

The thing is you cannot Blame them because

-First Elon is at some what trolling the market.

-Second His is one of the biggest Investors that open Bitcoin to big businesses .

Quote

That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. Just becasue of ~~spaceX needs funds~~ bitcoin liqudity according to his word. He just confirmed this news. So guys don't panic and don't spread rummers. I want to know what you guys thought about his tweet. What is your opinion?

Proving about liquidity is enough answer , because if He really did sold all the bitcoin in His pocket? surely market is already dumping really hard now because maybe Paypal will do the same thing.

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Dave Portnoy is just another guy claiming that Bitcoin is some sort of "tulip mania" ponzi scheme.
"Last one HODLing Bitcoins"? What if there's no "last one"?What if people keep buying and selling Bitcoins until the end of human civilization?I know that there's a big possibility that Bitcoin might not survive in the next 20 years,but technology evolves and improves.Maybe Bitcoin in 2030 will be better than Bitcoin in 2021.Who knows?

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Elon Musk never sells bitcoin but Elon Musk's two decisions took bitcoin to record heights. The world's largest cryptocurrency market has been on the rise since investing in bitcoin on top of that Tesla the electric car maker of Musk has recently decided to pay for bitcoin from buyers bitcoin has gained more momentum the world economy collapsed during the time of covid. At that time the prices of other cryptocurrencies including bitcoin also went down however, as soon as corona's push subsided the upward race started again.

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Elon musk never sell there bitcoin I'm 99.09 Sure

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Quote from: Stalker22 on April 27, 2021, 09:55:26 AM

Quote from: Imran232 on April 27, 2021, 08:45:57 AM

He just sold 10% of his investment. Just becasue of spaceX needs funds.

He said: "Tesla sold 10% of its holdings essentially to prove the liquidity of Bitcoin as an alternative to holding cash ...", not because the company "needs funds". These are two completely different things.

As I read it, he wanted to (had to) prove to his investors and shareholders that Bitcoin holdings are as liquid as cash.

yes you're right, he just wanted to prove that bitcoin liquidity is good enough as an alternative to saving money. he had no plans to destroy the market. Elon knows that if the market crashes her investment will only lose. after all it's only 10% of his total investment and he still holds the remaining 90%.

chaoscoinz

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Even if Musk did do it, what could anyone possibly do to stop it? Bitcoin is valuable, so that means any one with enough Capital can buy in indefinitely. I'd like to remain optimistic though, and do believe in the original dream of the block father, and founder, Satoshi Nakamoto Son. There's a glimmer of hope that shines a the end of the tunnel, and even if Bitcoin doesn't survive the future, I'm certain another Blockchain project that shares a similar ideology as Bitcoin will.
I'd like to think Ethereum being the lead coin within the future, as Bitcoin has already set the standard.

Timelord2067

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I don't suppose you could post a link to the original tweet? Most people at the moment have the classic FOMO surrounding bitcoin and crypto in general. Bitcoin and altcoins to a large extent were created as a means to make electronic transfers / payments securely via a one way system with the block-chain / ledger as proof of that payment.

It's a technicality to say "Tesla" sold the bitcoins after it's owner/creator talked up the price. It's another thing entirely to hold coins just for the sake of HODLing them as he is doing. After all, there was a price surge a couple of years ago when ransomware demanded payment in bitcoin prompting companies to go out and buy BTC on spec just in case they were attacked.

I wonder how many & where those coins are now?

masphie

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Many things made the price of bitcoin fall, and many also spread the issue of the falling price of bitcoin.
We can believe it or not about Elon's twitter reply (unless Elon provides evidence of his statement).
But we shouldn't panic, because the crypto world is like this (price ups and downs are common)

just_Alice

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I just recently learned about this liquidity stuff, though it might be just a quick excuse for what Tesla is doing.
If the initial purpose was to attract even more investors, then it's actually good and will have a positive impact on Bitcoin adoption. However, to make a strong point on Bitcoin's liquidity shouldn't Tesla constantly buy and sell Bitcoin instead of doing it just once? But maybe the company will do so, we don't know what will happen in the future.
On the other hand, let's not forget that Musk owns around 23% of Tesla shares, which means he definitely made a profit out of this too.

Rruchi man

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It is common knowledge that It is quite easier for a man with little financial challenges to hold on to his investment (say bitcoin) through the highs and lows without even thinking of shedding off a little quarter to solve some problems. Elon Musk's is a wealthy and influential individual whose major problem is no longer finance, for reasons like this, there is a high possibility that his claims are true.

finaleshot2016

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So, Elon Musk's shilling for bitcoin continues, which is a good thing because it means that other institutional investors will jump on board and pump the BTC price again. However, IMO, this is just like a defi degen, where pump and dump schemes can happen because he's a big player in the crypto market.

Still, I assume he can hold it for a longer period of time, and I can't blame him if he makes a profit during that time, as we are doing the same thing. Everyone is riding the pump they're doing, if we lose then it's our fault for riding the hype train without $DYOR. Roll Eyes

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This is a statement that will be difficult to ascertain the truth. He can sell high and buy the dip, this kind of statement is just to be a defence mechanism. He is a businessman and profit will be his first goal

Shasha80

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Quote from: karanggatak on April 28, 2021, 05:52:23 PM

distinguish personal investment from corporate investment, what Elonmusk said is very clear and true so in my opinion, don't panic if there is news that Tesla is selling some of its investment in bitcoin because Tesla is a large company that needs profit to develop its company to grow.
after all, 10% of Tesla's total investment is only a small part of his total assets in bitcoin so don't worry bitcoin still has a bullish potential to the new ATH.

I believe that Elon Musk actually wants Tesla not to sell the Bitcoin that they have, but because Tesla is a large company that has investors other
than Elon Musk. So Elon Musk does have to accept Tesla selling 10% of the Bitcoin it owns. If we think selling 10% is not something to worry
about. Besides, I am sure that if the price of Bitcoin corrects again Tesla will buy more Bitcoin when the price is low. So there's no need to panic
about Tesla selling their Bitcoin.

Questat

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Quote from: pixie85 on April 28, 2021, 04:49:53 PM

I like how he says tesla did something like he wasn't behind that move.

I fully understand that Tesla is a company managed by a group of people and financial investments have to go through a vote but Musk's opinion has a lot if not the most value there so it's not like Tesla did something, it was Musk who ordered it. The only difference between his personal sales and Tesla sales are that Tesla sale had to be cleared by the board before it happened but in both cases the idea to sell came from Musk.

If he owes a big share in Tesla, he can still manipulate the whole team. And behind this Bitcoin adoption is might be his opinion and decision as well.
Elon Musk is a very successful person and this is how people being easily influenced by his words. He brings Tesla into the crypto world, he is no doubts about taking the risk because he knows that there is a bright future here.

And I believe that Elon doesn't just invest in Bitcoin and Doge, but probably he also invests in other altcoins.

karanggatak

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distinguish personal investment from corporate investment, what Elonmusk said is very clear and true so in my opinion, don't panic if there is news that Tesla is selling some of its investment in bitcoin because Tesla is a large company that needs profit to develop its company to grow.
after all, 10% of Tesla's total investment is only a small part of his total assets in bitcoin so don't worry bitcoin still has a bullish potential to the new ATH.

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It is real that what Elon Musk says always gives a certain influence to crypto.
From what he said, I believe that he hasn't sold any of his Bitcoins, but he also admitted that Tesla did.
Elon may be the owner of Tesla. But he and Tesla are still different. Tesla is however a company in which there are some certain interests that make them decide to buy and sell Bitcoin at a certain rate. And this is not absolutely the decision of Elon, but the decision of the Tesla Company. There were many parties involved, not just Elon himself.

Quote from: capcaypro on April 27, 2021, 09:31:09 AM

from the many negative news about Elon, finally he made a statement which I think this statement can make people who spread negative news and hate Elon to be a little bit mum.

Haters will gonna hate, will never stop.
I personally prefer to take the advantage of what Elon Musk does and also consider about what may negative sides of his statement and action in crypto. S, we can still be wise and careful enough in responding to what a public figure states, not really always believe 100%, but always do more research again about it and not only following the hype because of it.

pixie85

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I like how he says tesla did something like he wasn't behind that move.

I fully understand that Tesla is a company managed by a group of people and financial investments have to go through a vote but Musk's opinion has a lot if not the most value there so it's not like Tesla did something, it was Musk who ordered it. The only difference between his personal sales and Tesla sales are that Tesla sale had to be cleared by the board before it happened but in both cases the idea to sell came from Musk.

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Quote from: hatshepsut93 on April 27, 2021, 02:38:01 PM

Quote from: teosanru on April 27, 2021, 02:22:43 PM

Just making meaning less memes on doge and pumping it hard is sheer foolishness even if he hasn't sold it till now

There's no proof that Musk holds any DOGE, and from what it looks like, he never actually had any intention to pump this coins. He just posted memes about Dogecoin, because he posts all sorts of memes all the time, and crypto speculators decided that it's a good reason to buy Doge, so the price went up and it started a feedback loop: more price growth -> more memes & attention -> more price growth

You could say it's irresponsible from Elon to tweet about Doge, but I doubt he has any malicious or selfish intentions.

Firstly, He has clearly said once as I remember that he is holding some dogecoins for his Child so that Indirectly means that he does hold some dogecoins at least. Secondly, If he would have done it once or twice I still would have agreed with you on this thing, but consistently tweeting some bullish memes about dogecoins doesn't seem to me like an irresponsible act. Moreover, why would he unnecessarily draw the attention of various government agencies to his crypto holding by declaring online that how many doge coins he holds.

Here is the link to his tweet : https://twitter.com/elonmusk/status/1359519541219500033?s=20

arwin100

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Quote from: ?? on ??

Quote from: Kayum10029 on April 28, 2021, 04:59:24 AM

Elon musk already tweeted his Twitter account that he didn't any bitcoin and already sold 10% tesla . But why he didn't sell his Bitcoin? May be an another smart trick of Elon musk in cryptocurrencies market.

obviously he made a lot of people wonder, because what he said did not match the reality that was done with his Tesla company, when at that time everyone knew that Tesla company had bought a lot of bitcoins, but at this time he said he did not have bitcoins. and it seems what you say is very true why he did not sell his bitcoins and only sells 10% of the tesla, what he did is clearly something strange and maybe there is a specific purpose.

The purpose is they don't want people to get panic after tesla is selling their bitcoins and made a profit on it, they want people to hold since if major panic will happen after their actions made they will lose millions dollars on their accounts. So be careful on believing if they want to hype it and always take your profit if there's a chance don't hold because Elon or other influencial people hype it.

hazenyc

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Quote from: mk4 on April 27, 2021, 09:13:24 AM

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Also, the point he made is all but against Bitcoin. He said he wanted to prove (or Tesla wanted to prove) that Bitcoin is liquid enough to be a viable alternative for holdings on the balance sheet. This is true because the financial crisis was a liquidity crisis because of fire sales. Tesla easily liquidated 300 or so million without crashing the price. That's hit point and it's a good point in favor of Bitcoin.

Kayum10029

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Quote from: RESIN2011 on April 27, 2021, 08:55:22 PM

Tesla has BTC listed as "digital assets" on their balance sheet. Elon has not disclosed the amount of BTC he personally holds.

Elon musk already tweeted his Twitter account that he didn't any bitcoin and already sold 10% tesla . But why he didn't sell his Bitcoin? May be an another smart trick of Elon musk in cryptocurrencies market.

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Quote from: Reosta_ on April 27, 2021, 04:31:49 PM

Tesla could even sell all of their investment and nobody can say a thing about it. In the end, they don't have to HODL it. But it is really frustrating to see that Bitcoin price is so easily manipulated by these things. When they sell, the price falls and vice versa.

Yeah they are company seeking profit and the only reason they bought bitcoin in the first place is because they want to make profit either by holding it long term or short term it's all already planned beforehand. The market itself being influenced by big company like that dumping is kinda normal I think. There have been history of stocks that got influenced or manipulated by big investors so it's not really good to blame the bitcoin market of easily being manipulated meanwhile the very same thing has happened to other investment instrument.
But what baffles me though, elon says it's tesla that sold the btc, but we don't even know whether he's holding some amount of btc or not.

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. Just becasue of ~~spaceX needs funds~~ bitcoin liqudity according to his word. He just confirmed this news. So guys don't panic and don't spread rummers. I want to know what you guys thought about his tweet. What is your opinion?

As much as it is true that Elon Musk has so much influence and could, sometimes, make tweets that could move the market, so to say. I still believe that he actually didn't have any control over the markets. In situations, where his tweets caused the market to move in a certain way, I realised that he only played on the emotions of people. He actually didn't ask them to dance to the tune he played. They did that on their own accord.
Secondly, we should know that Tesla and Elon Musk's holding of bitcoin are separate and different. I do not think Musk sold his bitcoins

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Did this news cause the price to rise? If so What percentage of this message affected the price?

nightxglow

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I think we should just believe his statement. If he really said that he didn't sell his bitcoin, then it might be it. The price of bitcoin is still high as well, and i don't see why Elon want to crash the market, i don't think he want to ruin bitcoin when it's still so profitable like this. I bet he will keep it for long and gain more profit. And also, although tesla sold their bitcoin, they still hold a huge amount of bitcoin, and it will be very funny if they're talking about adapting bitcoin then sold it right? people will just lose trust and curse them. I bet they know that and won't do anything stupid.

btc-room101

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Quote from: target on April 27, 2021, 06:57:03 PM

There's always going to have assumptions that he would sell or have sold no matter what he would say though. And it's not worth it for him to also publicly expose his BTC address to prove it either but it's also going to be assumed that he sold his billions of Doge.

Its not going to matter because there is nothing anyone could do if he would sell. Are we going to condemn him for taking profit?

Yes,

HODL is to love god

Selling Bitcoin is to hate BTC, to hate btc is go hate god

I find it fascinating that more people step forward to defend Musk, than BTC any day in the normal HODL-vs-HATE meme war

I'm going to guess that MUSK owns more bots for his defense, than any other bot army on this forum

MUST is TSLA he makes all the decisions, to suggest that TSLA & MUSK are divorced is stupid

Musk said he sold $100M after he said he sold none, financial press said he made $272M profit, so he obviously sold more than $500M

Just a week ago in Texas the car that crashed and killed two, Musk said the auto-pilot was OFF,

Musk is a habitual liar, but who cares right?

Lastly, TSLA 1st quarter report shows a loss, had he NOT bought BTC at the low, and sold at the high, TSLA stock would have tanked. So now Musk makes all his money trading crypto's to float his failing company's. This is not a new story. DeLorean did this years ago with Cocaine.

MAK400

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Elon Musk stated in a tweet that he did not sell his frozen bitcoin. It is unknown at this time what he will do after leaving the post. But for now, the cryptocurrency market is doing fairly well.

RESIN2011

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Tesla has BTC listed as "digital assets" on their balance sheet. Elon has not disclosed the amount of BTC he personally holds.

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. Just becasue of ~~spaceX needs funds~~ bitcoin liqudity according to his word. He just confirmed this news. So guys don't panic and don't spread rummers. I want to know what you guys thought about his tweet. What is your opinion?

You misunderstood what Elon Musk has said on his Twitter, he told that he did not sell any of his bitcoin, Tesla is the one who sold 10% of their bitcoin investment. A lot of people thinks that Elon Musk is just manipulating the market by just doing such things as what some are thinking but with this tweet hoping that things are now clear, but still no one knows that he is really saying the truth about his investment, we cannot believe by just a single tweet.

target

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There's always going to have assumptions that he would sell or have sold no matter what he would say though. And it's not worth it for him to also publicly expose his BTC address to prove it either but it's also going to be assumed that he sold his billions of Doge.

Its not going to matter because there is nothing anyone could do if he would sell. Are we going to condemn him for taking profit?

SaShiRaJaVu

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. Just becasue of ~~spaceX needs funds~~ bitcoin liqudity according to his word.

So basically what you are trying to say, since Elon Musk sold his company assets there is nothing that would affect the market. Either it is Musk or his company and if they are holding billions of dollars worth of bitcoin then they can crush the market if they start booking their profit.
Elon Musk can do anything with his money and his bitcoin holdings what i cannot understand is why he wants to register every move in social media.

Ridwan Fauzi

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I heard the other statement from Elon Musk that all payment that collected from some crypto user who bought tesla car using bitcoin will never be cashed, but now he just told that he has sold his holding from tesla.

I mean, yeah that is the bad thing that must know by most crypto user. There is chance for bitcoin crash a lot since there are so many instutional investor who hold bitcoin just because they are following Elon Musk suggestion.

Reosta_

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Tesla could even sell all of their investment and nobody can say a thing about it. In the end, they don't have to HODL it. But it is really frustrating to see that Bitcoin price is so easily manipulated by these things. When they sell, the price falls and vice versa.

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Quote from: seoincorporation on April 27, 2021, 11:56:08 AM

It looks like Elon Musk wants to test how easy was to sell a big amount of bitcoin, because if they weren't able to sell bitcoins they would be in big problems right now, so, that 10% sold from the tesla holdings was only an experiment, just to prove it was possible.

Now the question is, the $1.5B spend in BTC was from tesla, but how much does Elon musk invest from his pockets?. And should we consider this a market manipulation?

I'd assume he knows exactly how easy it was to sell Bitcoin. Tesla, and Elon are separate entities. Yeah, they are linked, but as far as I'm aware its considered a separate entity. In the UK we have limited companies, which are created to reduce the liability of the owner, and I'm assuming American businesses have a similar sort of system.

Yeah, you should probably consider anything coming from the mouth of a billionaire as market manipulation. It doesn't mean that its accurate, but its something you should probably assume to a certain degree. He's successful because hes an incredible businessman. So, anything he says has the potential for personal gain.

Oasisman

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Quote from: seoincorporation on April 27, 2021, 11:56:08 AM

Now the question is, the $1.5B spend in BTC was from tesla, but how much does Elon musk invest from his pockets?. And should we consider this a market manipulation?

Kinda considered that way, when you're very wealthy and trying to prove anything by either selling or buying.
He has not personally declared how much he estimated have invested in Bitcoin and other alts.
Tesla is a business he could use as an excuse to execute a market experiment.
Well, I could be wrong here. Just a mere speculations. As he said Tesla only wants to prove Bitcoin's liquidity.

DatKing

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Not HIS investment, it's Tesla's investment 10% of which was sold. And I'm not very sure about believing his reasoning for this sell. I will observe the company's movements about its BTC investment in the coming weeks, months etc. and then decide whether he is honest about it. Because it's an investment in the end and they could sell more of it, of course.

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Quote from: isaac_clarke22 on April 27, 2021, 02:26:40 PM

Well he could be a single person, but his words could influence a lot of people to decide whether to buy more or sell more.
Sometimes it is not the celebrity itself that manipulates the market, but rather how one's words could influence a lot of people just because they think that they should decide the same just because someone has a lot of wealth not knowing that it doesn't apply to cryptocurrency

Of course, Elon Musk has become one of the characters that affect the crypto world in a big way, one tweet about the Dogecoin made thousands of people buy the coin madly and its price increased fabulously.
What I mean here is that Bitcoin is not like a Dogecoin or the rest of the cryptocurrencies, Bitcoin is stronger than all of these and more powerful than one person or even a large group of companies can affect it. All governments have worked against Bitcoin from the beginning, but they could not stop it and they certainly will not be able On it in the future.

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Quote from: teosanru on April 27, 2021, 02:22:43 PM

Just making meaning less memes on doge and pumping it hard is sheer foolishness even if he hasn't sold it till now

There's no proof that Musk holds any DOGE, and from what it looks like, he never actually had any intention to pump this coins. He just posted memes about Dogecoin, because he posts all sorts of memes all the time, and crypto speculators decided that it's a good reason to buy Doge, so the price went up and it started a feedback loop: more price growth -> more memes & attention -> more price growth

You could say it's irresponsible from Elon to tweet about Doge, but I doubt he has any malicious or selfish intentions.

Review Master

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. What is your opinion?

Just to clear that it won't right to use the word 'his hodling' or "He" as Elon is just CEO of that company and he don't have any control over those institutional investment. The correct thing is, "Tesla as a company to show their quarterly revenue, sold 10% of their hodlings, not Elon Musk. Also, 90% from the whole investment of Tesla is still on hodling, not 90% investment of Elon. Hopefully, OP get this now and edit this so that others don't get the wrong idea.

BTW, CFO of Tesla said that they're happy to get quick liquidation of BTC when they bought as well as sold some of that. That means, more institutions will buy more BTC as they always had the wrong idea that BTC don't have huge liquidation for institutional trades.

isaac_clarke22

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Quote from: yhiaali3 on April 27, 2021, 01:49:12 PM

~

Well he could be a single person, but his words could influence a lot of people to decide whether to buy more or sell more.
Sometimes it is not the celebrity itself that manipulates the market, but rather how one's words could influence a lot of people just because they think that they should decide the same just because someone has a lot of wealth not knowing that it doesn't apply to cryptocurrency

teosanru

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A very important thing to note here as everyone mention is that Tesla sold 10% of Bitcoin which is quite obvious you have to show your investors some realised profit from your investment otherwise profits in an asset like bitcoin isn't going to be liked a lot by the investors.

My main concern here is no matter he sells his bitcoin or not at the end of the day he by telling people that this and that coin will go moon is making crypto more speculative it's just showing people that crypto is a place to mint quick money and not an alternative financial system. Just making meaning less memes on doge and pumping it hard is sheer foolishness even if he hasn't sold it till now

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Quote from: jesselui on April 27, 2021, 09:32:14 AM

That's why we shouldn't take what these guys say seriously. They make explanations according to whatever is necessary at that moment. Small investors

We can't just help things if we keep them quiet because they are small and big investors and among all; public influencers. They must be listening to becasue they have some financial strength to push the market reasonably.

If i may apply some financial laws here: Elon Musk and Tesla company are two different entities, i will rather believe that he -'Elon Musk' still holding Bitcoin while Tesla sold some percentage of it portfolio to prove some points to it stakeholders.

kamotharnn

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How can you clarify whether he say the truth or not? He can sell all of his bitcoin in one day and claim that he still holds them. Nothing we can know for sure. Even though I believe this man support bitcoin, nothing ensure us that he is taking profit for a short run

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Quote from: yhiaali3 on April 27, 2021, 01:49:12 PM

It does not matter if Elon Musk sells his bitcoin, Bitcoin will definitely not be affected by one person, no matter who owns bitcoin, bitcoin grew before Elon Musk entered the bitcoin market and maintained its growth over ten years despite government opposition and despite all the difficulties it faced in its history. Bitcoin has proven to be strong and stronger than all these hardships.
Of course, if Tesla sells its bitcoin it will negatively affect the market because people will think that the bitcoin will collapse and people start panic selling, but I am confident that in the end Bitcoin will hold together and come back stronger than it was.

i like your line of thought here. i dont understand why some people seem to rely from elon musk on what may possibly happen to btc. btc has been here for years without him in the picture, so for those who are spreading fud because btc will collapse because of him, it will not happen.
people are giving meaning to whatever musk is doing these days, even simple tweet like in doge. people are buying.
from his tweet towards the selling of about 10% owned by tesla, i guess, he proved his point to his investors. i dont think we need to worry about the collapse of btc just because of this.

Hasan905

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As i understand the problem is not with who is controlling it or who is going out from the market with his profit. The simplest thing is no one invest on something without the intention of profit. The problem is with us, we act too much panic when its not really necessary and start to take wrong steps or decision. Because of these wrong decision we get in trouble, so finally we are the reason of any kind of fall down not any individual person or group...

yhiaali3

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It does not matter if Elon Musk sells his bitcoin, Bitcoin will definitely not be affected by one person, no matter who owns bitcoin, bitcoin grew before Elon Musk entered the bitcoin market and maintained its growth over ten years despite government opposition and despite all the difficulties it faced in its history. Bitcoin has proven to be strong and stronger than all these hardships.
Of course, if Tesla sells its bitcoin it will negatively affect the market because people will think that the bitcoin will collapse and people start panic selling, but I am confident that in the end Bitcoin will hold together and come back stronger than it was.

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his investment. Just becasue of spaceX needs funds. He just confirmed this news. So guys don't panic and don't spread rummers. I want to know what you guys thought about his tweet. What is your opinion?

Elon has worded this statement in a certain way, but as cryptocurrency is not a regulated financial instrument so he could be lying and nobody would ever be able to take any action against him. That's why he cannot spout rumors around Tesla any more, so manipulates cryptocurrency like Dogecoin instead. The fact that you instantly conflate "his" bitcoin with Tesla's bitcoin shows how he can get away with such things, it is effectively working as a money market fund within Tesla and he is not bound to much publication around the profit he takes. The fact that he is on the defensive should be more alarming than him ignoring it in the first place - he usually revels in controversy, he might want a longer time to sell off at the higher price.

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Just because a correction happened people started to blame him for that without major evidences?
So far Elon Musk is being fully beneficial for crypto market. He helps to promote it, to bring more investors and he also put a lot of money from his own pocket and from his own company into bitcoin. I think those are important points to be satifisfied about and enough to not spread lies and envy on him. Anyway I'm not surprised, as there is already a popular opinion on the internet saying he should carry the world on his back for being rich and a successful entrepreneur.

DarkDays

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Quote from: mk4 on April 27, 2021, 09:13:24 AM

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Yup, that's two different things. And while Tesla sold some of its BTC it was not the entire share. Most people would have gotten shaken up a little when the market was in red a few days ago. In the end, what matters is the long term stance on this.

Also, the fact that he stood up and commented about it means that he might care about his BTC investment. It is not like DOGE, his BTC investment is more than just a 'see market reaction' to troll tweets. Anyways, there seems to be more solidarity which is good news.

Gamerholic

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The magnitude of his influence on public opinion in the West and not only significantly and only grows from year to year. His contribution to the development of cryptocurrency and its adoption for payments has given the market a lot more than many other famous people in the industry. So you should take his words literally. The guy believes in bitcoin and logically explained why he sold part of his assets. If such a person says "hold and do not sell" - then we should also think about it.

stompix

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Quote from: mk4 on April 27, 2021, 09:13:24 AM

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Yeah, two different things, and the moment I read his reply I instantly thought, wait, why using the word "my" when they are actually not yours, but then I realized the guys have some real politician material in him that has just surfaced.
I remember one scene when one of those morons in y country said he donated half of his salary (about 3000 euros) to charity, wow, so much impressive, but his family had a fortune of a few tens of millions, same with Musk, no I haven't sold any of my bitcoins which up to date nobody knew I had and they might be just two or half of it, but I did tell Telsa to dumb a few thousand.

But, in the end, it's a free market, his company( that he is running like a dictator), his keys, his coins, his decisions.
It's f* obvious every of those so cheered investors in BTC will at some point dump their coins and take the profits in $, it's not like Grayscale is an entity with a wallet that can go around buying hotdogs with BTC.

Quote from: Smartvirus on April 27, 2021, 12:29:55 PM

Thats the point most people don't get, Elon Musk isn't Tesla,.

Oh yeah, he is.
If tomorrow he wakes up with a bright idea all cars tesla cars will have 5 wheels and 1 door and nobody will be able to stop him.

Smartvirus

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Quote from: avikz on April 27, 2021, 12:14:44 PM

Quote from: mk4 on April 27, 2021, 09:13:24 AM

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Exactly it is! Elon holds bitcoin personally which he has not sold to the market. But Tesla indeed booked profit.

Thats the point most people don't get, Elon Musk isn't Tesla,. He might be the face of Tesla judging from the shares he holds and the fact that, its indeed through Tesla and there electric cars that most people came to know Elon Musk but the fact still remains that, he isn't Tesla. From his claims in the tweet in OP, it is stated clearly that he hasn't sold any of his bitcoin, Tesla as a company has but, he hasn't. We all heard of the over half a billion dollar profit over a one billion dollar Tesla investment that rallied the market during the bullrun. That was Tesla's not Musk.

Musk isn't doing anything strange or outrageous in his tweets about bitcoin. Yes, he does have some influence because, it introduces some sentiment to the market to rally along but that's in traders. Your left to build your sentiments about his tewwts and should you go for a buy or a sell, its on you. One man can't move the market, he can only influence it by the sentiments the crypto community conceive about his investment plans.

avikz

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Quote from: mk4 on April 27, 2021, 09:13:24 AM

Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Exactly it is! Elon holds bitcoin personally which he has not sold to the market. But Tesla indeed booked profit. But I believe that was expected to many people. Tesla is a business organization and they are here to make profit. So it's no harm if they have liquidated some of their digital asset holdings to book some profit from their investments.

I believe Square or Microstrategy will also go down to the same road sooner or later. After all they are business entities and not a charitable organization. So if we cheer when they entered into the market, we should also be prepared for when they exit from it!

seoincorporation

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It looks like Elon Musk wants to test how easy was to sell a big amount of bitcoin, because if they weren't able to sell bitcoins they would be in big problems right now, so, that 10% sold from the tesla holdings was only an experiment, just to prove it was possible.

Now the question is, the $1.5B spend in BTC was from tesla, but how much does Elon musk invest from his pockets?. And should we consider this a market manipulation?

Stalker22

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Quote from: Imran232 on April 27, 2021, 08:45:57 AM

He just sold 10% of his investment. Just becasue of spaceX needs funds.

He said: "Tesla sold 10% of its holdings essentially to prove the liquidity of Bitcoin as an alternative to holding cash ...", not because the company "needs funds". These are two completely different things.

As I read it, he wanted to (had to) prove to his investors and shareholders that Bitcoin holdings are as liquid as cash.

jesselui

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That's why we shouldn't take what these guys say seriously. They make explanations according to whatever is necessary at that moment. Small investors

capcaypro

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from the many negative news about Elon, finally he made a statement which I think this statement can make people who spread negative news and hate Elon to be a little bit mum.
I am not sure whether it will be good or bad news in the future but if I can understand testla when he sold 10% of his investment from bitcoin because all companies want to make a profit as well as testla. because they have many employees who have to keep working and being paid.
but for a different elon, some people think elon as a pope which is really up to him to do what he wants to do because a billionaire is free to do anything and it is very difficult to prohibit doing something.
I can only take advantage of every available momentum from these billionaires.

mk4

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Take note:

1. Elon Musk probably haven't sold some of his bitcoin (based on his claim).
2. Tesla, as in the company, has sold some of their bitcoin holdings.

These are 2 very different things.

Imran232

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Lot's of people spread rummers that elon mask playing with bitcoin market and he exist after taking his profit. Peoples says elon mask sold his bitcoin to crush the market. But elon mask clear this matter by reply a same topic tweet. That he is still his 90% investment of bitcoin holding. He just sold 10% of his nvestment. Just becasue of ~~spaceX needs funds~~ bitcoin liqudity according to his word. He just confirmed this news. So guys don't panic and don't spread rummers. I want to know what you guys thought about his tweet. What is your opinion?

Topic: Elon Musk statement on his Bitcoin holding (Read 584 times)